Business
Wall Street Week – Full Show 02/03/2023
On this edition of Wall Street Week, Bob Michele, JP Morgan Asset Management Head of Fixed Income & Erin Browne, PIMCO Multi-Asset Strategy Portfolio Manager wrap up the week in the markets. Bloomberg Wall Street reporter Sonali Basak shares her takeaways from Miami’s hedge fund week. Ruchir Sharma, Rockefeller International Chairman explains why India’s growth has been long tied to the global growth cycle. And Former US Treasury Secretary Lawrence H. Summers highlights the risk of a sudden downturn in the economy after the surge in jobs growth.
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Bloomberg Surveillance: Early Edition, live from London and New York. Tom Mackenzie, Matt Miller, and Kailey Leinz deliver the latest news and analysis on the markets with leaders in global finance and economics. Mark Haefele, UBS Global Wealth Management CIO, says he likes commodities as a hedge. Aneeka Gupta, Research Director at WisdomTree, says the U.S.-EU energy deal is unrealistic.
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“Balance of Power” focuses on the intersection of politics and global business. On today’s show, Rep. Nicole Malliotakis (R-NY) says China is “in some ways an ally, in some ways an adversary” as the US and China compete over artificial intelligence. Rep. Malliotakis says talks with Beijing over an AI framework are worthwhile, but questions whether China can be trusted to follow one. Anna Ashton, Co-Founder of Ashton Intelligence, says extending the US-China trade truce will likely be a central issue when President Trump meets Chinese President Xi Jinping. Ashton says the length of any extension matters as China retains leverage through restrictions on rare-earth exports.
Chapters:
00:02:58 Bloomberg’s Nick Wadhams on Trump Addresses UN, Weighs Iran Deal
00:05:54 Rep. Nicole Malliotakis (R-NY) on Iran and Diplomacy
00:09:01 Rep. Nicole Malliotakis (R-NY) on Diesel Prices and Potential Export Ban
00:10:23 Rep. Nicole Malliotakis (R-NY) on Trump, Mamdani and New York City
00:12:49 Rep. Nicole Malliotakis (R-NY) on Xi Jinping Visit and US-China AI Competition
00:15:16 Power Moves: Top Financial Moves
00:18:06 Anna Ashton, Co-Founder of Ashton Intelligence, on AI Issue With Trump-Xi Summit
00:20:10 Anna Ashton on Trade Truce, Export Controls and Rare Earths
00:22:21 Anna Ashton on China’s Role in Russia, Ukraine and Iran
00:24:56 Bloomberg’s Bill Faries on Texas and Michigan Senate Races
00:26:42 Political Panel Reacts: Midterm Election Battles, Republicans, Iran War and Rising Energy Costs, GOP Divisions and Trump Jr. Investigation
00:37:59 Helen McEntee, Ireland Minister for Foreign Affairs and Trade, on US-EU Trade and Tariffs, Ireland, China and EU Trade Strategy
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Stocks held gains driven by a rally in the artificial-intelligence trade as oil fell for a fifth day, with investors tracking diplomatic efforts to end the US-Iran war. Early signs of success for Meta’s new personal agent revived optimism over chip demand, bolstering the sector after a recent rough patch driven by calls for slower AI development.
Alibaba is rolling out what it calls China’s most powerful AI chip, an accelerator to compete with Nvidia and underpin a massive expansion of data center capacity in coming years.
President Volodymyr Zelenskyy will meet President Donald Trump in New York today as the embattled Ukrainian leader looks to shore up support to defend against stepped-up Russian attacks. Zelenskyy has so far brushed off Trump’s calls for Ukraine to stop hitting refineries inside Russia which have triggered fuel shortages.
Today’s guests: Mike Bell, RBC BlueBay Head of Market Strategy; Kristina Spohr, London School of Economics Professor; Cristina Caffarra, EuroStack Initiative Founder & Chair
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“The Pulse With Francine Lacqua” is all about conversations with high profile guests in the beating heart of global business, economics, finance and politics. Based in London, we go wherever the story is, bringing you exclusive interviews and market-moving scoops.
Chapters:
00:00:00 – The Pulse
00:01:56 – AI trade roars back on Meta’s personal agent
00:06:03 – Mike Bell, RBC Bluebay Asset Management Head of Market Strategy
00:15:09 – Latvian Foreign Minister: Russian sabotage is ‘serious worry’
00:16:43 – Merz claims party support after election hit
00:17:41 – Kristina Spohr, London School of Economics Professor
00:25:14 – Tuesday headlines
00:26:14 – Tuesday top stories
00:30:38 – Cristina Caffarra, Eurostack Initiative Founder and Chair
00:37:45 – Novo investors seek more robust sales targets
00:42:29 – Ecuadorian President: Cocaine trade worth about $30 billion a year
00:45:07 – China, US discuss AI, investment and trade
00:47:06 – Macron, Trump discuss Kyiv, Moscow halting energy strikes
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US equity futures waver after Meta, Alibaba and Tencent boosted investor optimism around AI with their latest technology. The US and China held a second round of trade talks ahead of the Trump-Xi summit. President Trump is set to speak as the UN General Assembly convenes in New York City. Kallum Pickering of Peel Hunt joins “Bloomberg Brief” to discuss the sustainability of debt-financed growth.
This video has been edited to correct a graphic to show that the latest AI trade faltered in the Asian session. The correction is placed at 01:01
Chapters:
00:00:00 – Bloomberg Brief: AI Rally, Trade Talks & Oil
00:00:48 – Global Market Check: Asian Markets and Chinese Tech Gains
00:02:22 – European Markets React to Oil Reversal
00:03:31 – Oil Retreats on Iran Diplomacy and Saudi Supply
00:04:56 – First Look movers: On, GameStop and Pharma
00:06:24 – Trump, Xi and the UN General Assembly
00:09:02 – US-China Trade Talks and Rare Earth Leverage
00:12:50 – Oil Markets and the Strait of Hormuz
00:15:41 – Trending on the Terminal
00:16:59 – Alibaba’s New AI Chip Takes Aim at Nvidia, Meta’s AI Momentum and the Chip Rally
00:20:45 – Front Page News
00:21:33 – Market Check: Stocks, Bonds and Crude Oil
00:24:25 – Kallum Pickering, Peel Hunt Chief Economist, on US Debt, Fed Policy and AI Investment Risks, Inflation Risks and the Fed’s Balancing Act
00:32:20 – Trending on the Terminal
00:33:42 – Trump-Xi Talks and UN Diplomacy
00:37:42 – Alibaba, Meta and SoftBank’s AI Financing Boom, Meta AI Adoption and Investor Optimism
00:42:30 – What to Watch
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More on Bloomberg Television and Markets
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Bloomberg Surveillance: Early Edition, live from London, Berlin and New York. Francine Lacqua, Anna Edwards, Matt Miller, and Kailey Leinz deliver the latest news and analysis on the markets with leaders in global finance and economics. ECB Governing Council member Klaas Knot says new restrictions in parts of the euro area to battle record Covid-19 infections are unlikely to change the planned wind-down of monetary stimulus. Amundi Group CIO Pascal Blanque warns of a tech bubble. Julie Norman, Lecturer in Politics & International Relations at University College London, says Russia is the biggest geopolitical challenge for Biden.
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@IsaiahStewartJazz
January 29, 2024 at 11:43 am
Love this show. Real news. So sick of crappy financial youtube channels that are clueless and make stuff up
@SamEbby
January 29, 2024 at 11:43 am
good god the lady from pimco was annoying as hell
@igniteflow
January 29, 2024 at 11:43 am
Continually disappointed the optimists and pessimists… so, everyone?
@edmundlively8137
January 29, 2024 at 11:43 am
We need to fast track the immigration of NATOnian's to fill our 11 million empty job slots. Our economy is getting ready to rev up enough to produce all the tanks and planes we need in Ukraine
@3EBstudio
January 29, 2024 at 11:43 am
Meta profits down 55% yet rallies lololol
@DrPV
January 29, 2024 at 11:43 am
Gentleman & Ladies:. Then explain the hi tech layoffs?? The job report was the past not real time!!!!
@jp2412diu
January 29, 2024 at 11:43 am
Hindenburg is hiding in NY when a journalist wanted to ask questions. If Hindenburg is authenticated then no govt reports are to be believed. This is a promoted reporting based on personal interest and is not correct. Hatred against India is only a factor. Adani will rise again … for sure. Adani employs millions here where as Hindenburg emplos 10 people…!!!!
@johndingle6293
January 29, 2024 at 11:43 am
Fed looks trapped. Market looks trapped. Better economy means higher inflation and rates. Worse economy means lower growth, worse economy and lower rates. Can the Fed have it's cake and eat it too?
@dennismorris7573
January 29, 2024 at 11:43 am
Excellent report – with thanks.
@tommay7735
January 29, 2024 at 11:43 am
Not about not paying for our overspending. About not continuing to spend millions on seeing how cocaine effects beagles! And millions on pork! But only giving fixing city water systems and public transportation lip service!
@hadawaycolton4263
January 29, 2024 at 11:43 am
"doubled", thats concerning because EVERYONE HAS x2 the jobs they had before which was x1, it doubled because u fucks made everyone get two fuckin jobs.
@hadawaycolton4263
January 29, 2024 at 11:43 am
Do you know how many people are getting two jobs to live in the economy we are in right now that is supposed to be cheap? Say you flip interest rates without decreasing the squeeze on americans. We are on two jobs just to make it in a one bedroom apartment, that is 80% of the dealers at the golden nugget for instance. Say you let inflation go and decrease the squeeze on americans? You really think that we can handle 3 fuckin jobs to pay fuckin rent without utilities? Are you fuckin retarded?
@2023gainer
January 29, 2024 at 11:43 am
* XOS Trucks ..Up 62 % Month. Global Large EV Truck Leader. New 150 EV truck order contract from Loomis Armored Truck. Near 8 X the last 20 EV truck order. Major Customers Fed Ex, Merchants Fleet ( UPS ), Uni First, Alsco, Dealerships, more.
@owenkwong3358
January 29, 2024 at 11:43 am
Bring back Volker
This fed is a joke Powell not even an economist by training
@2023gainer
January 29, 2024 at 11:43 am
Small Caps Charging UP in 2023… * FFIE.. Up 232 % Month.. Faraday Future. Nearing March 2023 Production of FF 91… FF 91 Futurist and FF 91 Futurist Alliance SUV EV 3 models. * IQSTEL. Profitable. 4 Divisions in 19 Countries. EVOSS launch 2023.
@utubeuser5312
January 29, 2024 at 11:43 am
Fun to watch, bring a picnic like Manassas
@kyronjanestepa6111
January 29, 2024 at 11:43 am
Collapsing Soon……
@luap2551
January 29, 2024 at 11:43 am
These people are Out To Lunch – Terminal Rates will be over 5% and wait for Europe to go Bankrupt
@angelobalbi
January 29, 2024 at 11:43 am
Fed won’t be able to bring inflation to 2% even with 6% rates. The only way the Fed can do that is by stopping China’s growth. If the US can not stop China, even if the Fed rates go to 10%, the Fed won’t be able to crash emerging markets and oil like they did in the 1980s if China keeps expanding.
The key is stopping China, but Europe and NATO won’t go along as they did with Russia. We have to see how these unfold.
Either way, either the Fed will give up on low inflation, or the Fed will crash the US economy.
The first quarter is the best scenario for the whole year. When this first quarter balance is tilted (offshore inflation returns), ask to double your driving because our problems will begin.
So enjoy the first two acts because things will start breaking down by the third act.
.
@curiouslymavismade
January 29, 2024 at 11:43 am
You think the Fed is doing a good job at portraying substantial uncertainty? You actually felt comfortable enough to say that publically? Who's bright idea was it to put you in front of a camera?
@anarambhkumar3211
January 29, 2024 at 11:43 am
Always a balanced view by David Weston…
@smartmoneytv420
January 29, 2024 at 11:43 am
Lastly, I asked the AI to tell me how it would trade the markets next week.
This is not investment advice just an interesting example for entertainment.
As a day trader next week, some specific trades to make profits from this could be to buy stocks in sectors that have been positively affected by the Fed's rate hikes and the job numbers, such as the travel and leisure industries. Additionally, purchasing bonds could be a good option, given the relatively flat yield on the 10-year. Additionally, buying into stocks that have seen strong earnings, such as Facebook and GM, could be a good option. Finally, investing in sectors such as energy that have been hit by environmental policies or digital payment stocks could be a profitable trade for day traders next week.
@smartmoneytv420
January 29, 2024 at 11:43 am
I also asked my AI to give me the market sentiment from this news above:
The market sentiment with regards to the Federal Reserve's rate hikes, the US job numbers, and the bond yields is one of optimism.
Investors appear content with the continued steady increase in rates and employment, and the subsequent climbing of the S&P 500 and Nasdaq are viewed as positive signs for the economy.
Examples of this market sentiment included investors appearing to have heard the Federal Reserve's assertion that things may be getting better and anticipating a rally from European Central Bank and Bank of England continuing to play catch up with rate hikes.
Additionally, investors saw the positive job numbers as indicative of a shift from work from home expenditures to travel and leisure services, and that the labor market is still quite tight.
Lastly, the yields on the 10-year ended the week almost flat, a sign that investors were comfortable with the state of the economy.
@smartmoneytv420
January 29, 2024 at 11:43 am
I asked my AI Imagine it is a Day Trader and to summarize the 5 most valuable points of information:
The 5 most important and valuable points for a day trader:
1. The Federal Reserve hiked rates another 25 basis points and warned that more is coming.
2. The US Job numbers came in far above what anyone had predicted, adding 517,000 newjobs to an already tight market, dropping the unemployment rate to 3.4%.
3. The Federal Reserve could hike an additional one time or pause, but they will likely not cut rates for an extended
continue
to remain restrictive for quite some time.
4. Wages came down a little bit, but there is still pressure particularly on some of the services side due to the mix shift.
5. The bond yields end up at 3.52% while the S&P 500 climbed 1.6% over the week and the Nasdaq gained 3.3%
@akoszoboki3071
January 29, 2024 at 11:43 am
My life would be hopeless without Bloomberg Special Contributor Larry Summers.
@praveenspike
January 29, 2024 at 11:43 am
Just curious and wanted to know with the highest number sanctions, Russia's GDP has passed Germany's and Britain's GDP reported by IMF. So what are sanctions actually?