“Balance of Power” focuses on the intersection of politics and global business. On today’s show, Pat Toomey, former Pennsylvania Republican Senator, former ranking member of the Senate Banking Committee and Coinbase global advisory council member, says Republicans are in a “really rough spot” in the House while control of the Senate remains much more of an open question. Jessica Killin, Colorado Democratic Congressional candidate, says affordability is the central concern she hears from voters and argues Congress needs to take back its power on tariffs and the war with Iran. Jessica Taylor, Senate and Governors editor for The Cook Political Report, says President Donald Trump is needed on the campaign trail to drive Republican turnout, but making the midterms about himself could also motivate Democrats and independents to vote against his party.

Chapters:

00:02:04 Power Moves: Top Financial Moves
00:06:19 Bloomberg’s Kate Sullivan on Trump Reverses Course on Final Midterm Rallies
00:10:06 Pat Toomey, former Pennsylvania Republican Senator, former ranking member of the Senate Banking Committee and Coinbase global advisory council member, on GOP Midterm Prospects and Markets
00:15:04 Pat Toomey on Pennsylvania and Ohio Races to Watch
00:18:52 Jessica Killin, Colorado Democratic Congressional candidate, on Colorado’s 5th District and the Cost of Living
00:20:00 Jessica Killin on Affordability, Tariffs and the Iran War
00:24:08 Bloomberg’s Mark Niquette on Ohio’s Tight Senate and Governor Races
00:26:31 Jessica Taylor, Senate and Governors editor for The Cook Political Report, on Cook Political Report’s Final Midterm Forecast
00:31:25 Jessica Taylor on Turnout Becomes the Key Midterm Question
00:33:45 Jessica Taylor on When Will the Senate Majority Be Known?
00:35:41 Political Panel Reacts: Trump’s Closing Midterm Push, Can Democrats Flip Kansas?, How Democratic Control Could Change AI Regulation
——–
More on Bloomberg Television and Markets

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Jonathan Ferro, Lisa Abramowicz and Annmarie Hordern speak daily with leaders and decision makers from Wall Street to Washington and beyond. No other program better positions investors and executives for the trading day.

Chapters:
00:00:00 – Bloomberg Surveillance starts
00:08:08 – Principal’s Shah: Investors to Stay Focused on Tech
00:19:37 – Wolfe Research Has Modest Expectations for Trump-Xi Summit
00:30:03 – SocGen’s Jukes: UK Political Uncertainty Drives Gilt Yields to Highest Levels in Decades
00:39:32 – New Century Advisors’ Sahm Says Government Shutdown Still Distorting Data
00:52:11 – Crossmark Global Investments Sees Tale of Two Economies: AI & Everything Else
01:20:54 – Morgan Stanley’s Carpenter Sees Disinflation Resuming in Second Half of 2026
01:35:38 – China Leveraging Chokepoints in Economic Warfare: Fishman
01:48:04 – Cantor Fitzgerald’s Johnston on Market Reaction to Trump-Xi Summit
02:00:17 – SW Retail Advisors’ Widlitz: Consumers Feeling Cost Crunch
02:08:35 – Consumers Still Face Months of Pain, Piegza Says
02:23:09 – Macquarie’s Wizman on Fed Inflation Concerns
——–
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Artificial intelligence is becoming a political issue for the first time in this year’s midterms, with much of the voter backlash focused not on the technology itself but on the data centers needed to power it. Communities from Michigan to Texas are raising concerns about electricity costs, water use and the broader impact of AI on jobs and local economies. Former House Speaker Paul Ryan says data centers have become a proxy for wider fears about AI.
——–
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European stocks exposed to Brazil fell after President Luiz Inácio Lula da Silva came from behind to win Brazil’s runoff election, with investors dealing with the twin shock of Lula’s improbable win and Flávio Bolsonaro’s calls for the vote to be annulled.

The European Union is planning to use safeguard measures to cut imports of products from sectors including chemicals, furniture and machinery from China, according to people familiar with the matter.

The Opening Trade has everything you need to know as markets open across Europe. With analysis you won’t find anywhere else, we break down the biggest stories of the day and speak to top guests who have skin in the game. Hosted by Anna Edwards, Guy Johnson and Tom Mackenzie.

Chapters:
00:00:00 – Bloomberg’s “The Opening Trade” Begins
00:01:39 – Lula’s Shock Brazil Election Victory
00:04:02 – Oil Falls Despite Trump’s Iran Rhetoric
00:05:41 – ECB, Fed and BOJ Decisions Ahead
00:06:21 – Massive Week for Tech and AI Credit
00:08:32 – What to Watch
00:11:28 – SpaceX’s $40 Billion Debt Deal, Central Banks and Hawkish Holds
00:15:07 – DZ Bank’s Sonja Marten on ECB Faces France and Inflation Risks, UK, Brexit and the Pound, Is AI in a Bubble
00:21:52 – Need to Know
00:25:40 – Bank of America’s Francisco Blanch on European Gas Hits Highest Since 2022, Europe’s Winter Gas Price Risk, Russia, Ukraine and the Diesel Market
00:39:23 – MLIV: Assessing the Market Reaction to Lula, Tech Earnings and AI Investment Risks
00:42:44 – European Stocks to Watch
00:48:03 – European Markets Open
00:51:54 – Jupiter Asset Management CIO Piers Hillier on Markets and Central Banks, France’s Fiscal and Bond Market Risks, Energy Prices and Portfolio Strategy
00:58:00 – Jupiter Asset Management CIO Piers Hillier on Investing in Latin America After Lula’s Win
01:05:12 – Roche Lung Cancer Drug Results
01:06:28 – SpaceX, Neo-Clouds and AI Debt
01:07:41 – Big Tech Earnings and AI Capex
01:09:45 – Brazil ETF Plunges After Lula Victory
01:14:48 – Need to Know: Iran, AI Productivity and Brazil
01:16:14 – Breaking News: EU-China Trade Tensions
01:17:10 – Societe Generale’s Phoenix Kalen on Brazil’s Election Shock and Market Outlook, Lula, Trump and US-Brazil Relations
01:26:10 – PIMCO’s Rupert Harrison on UK Budget Preview, Could the UK Hold an Early Election, Could the UK Move Closer to the EU
01:32:13 – The Busy Week Ahead
01:34:13 – Fed and ECB Rate Outlook
——–
More on Bloomberg Television and Markets

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A gamble on re-districting ahead of the US midterm elections may not pay off for Republicans, who redrew more than a dozen congressional districts across the country hoping to pick up more seats in Congress. Bloomberg’s Josh Wingrove joins David Gura on the Big Take podcast to explain.
——–
More on Bloomberg Television and Markets

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