Business
Harvard, MIT Presidents Should Step Down, says Virginia Governor
Virginia Governor Glenn Youngkin says Harvard President Claudine Gay and Massachusetts Institute of Technology President Sally Kornbluth should “come under the exact same scrutiny” as University of Pennsylvania President Liz Magill. Magill resigned after testifying before Congress about handling antisemitism on campus. Gay and Kornbluth testified with Magill on Dec. 5. Youngkin speaks to Bloomberg’s Annmarie Hordern in Washington.
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The Close brings you the latest news and analysis leading up to the final minutes and seconds before and after the closing bell on Wall Street. Today’s guests are Charles Schwab Chief Investment Strategist Liz Ann Sonders, IDC Senior Director, Data & Analytics Nabila Popal, Susquehanna Senior Equity Research Analyst Mehdi Hosseini, KPMG US Chair & CEO Tim Walsh, Envestnet CIO Dana D’Auria, Hirtle & Co Founder & Executive Chair Jon Hirtle, Gerber Kawasaki Wealth & Investment Management President & CEO Ross Gerber, Blue Sky Productions President John McElroy, & Porsche CEO Michael Leiters.
Chapters:
00:00:00 Bloomberg The Close
00:02:50 Liz Ann Sonders on AI, Bonds & Market Rotation
00:08:00 Fed Rate Hikes, Diversification & Investor Positioning
00:11:03 Smartphone Slump, Memory Chip Shortage & Rising Prices
00:16:00 KFC Drops Pepsi for Coke & Top Wall Street Calls
00:17:00 Top Calls
00:18:09 TSMC Earnings, AI Demand & the Chip Buildout
00:23:30 KPMG CEO on AI Investment & Corporate ROI
00:28:42 AI Jobs, Geopolitics & the CEO of the Future
00:32:14 Rocket Lab Delays Its Neutron Rocket
00:36:50 Markets Rebound as Treasury Yields Fall
00:41:06 Fed Chair Kevin Warsh, Inflation & Rate Policy
00:45:17 Closing Bell
00:50:37 Market Movers, J.B. Hunt Earnings & Consumer Pressure
00:54:03 Market Recap: Defensive Stocks & Falling Yields
00:57:30 John Hirtle on AI Investing & Portfolio Strategy
01:02:47 Private Markets, Venture Capital & Diversification
01:04:21 J.B. Hunt Earnings, Trucking & Driver Shortages
01:08:35 Tesla Roadster, SpaceX & Elon Musk’s Strategy
01:14:17 Tesla’s Future, Robotaxis & the Auto Industry
01:18:20 Porsche CEO Unveils New Supercar Above the 911
01:23:32 Porsche Pricing, China & Luxury Car Strategy
01:28:24 Porsche’s Transformation & Future Product Lineup
01:30:39 What to Watch: Tesla Roadster, Fed Chair & Economic Data
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Bloomberg Daybreak Europe is your essential morning viewing to stay ahead. Live from Brussels, we set the agenda for your day, catching you up with overnight markets news from the US and Asia. And we’ll tell you what matters for investors in Europe, giving you insight before trading begins.
On today’s show, AI jitters returned after the Korean data center firm Elice flopped on its stock market debut. Shares fell as much as 35% after its IPO, which raised $151 million.
Bloomberg has learnt that the AI cloud computing firm Nscale is in talks to sell computing power to Anthropic, in a deal that could be worth about $45 billion.
The German Chancellor Friedrich Merz has warned against complacency over the dangers posed by Russia, saying that President Putin is seeking to undermine democracy in Europe.
And tougher security measures, including an 11pm curfew in some parts of Paris and other cities, appear to have quelled violent protests in France for now. But unions have called for a strike next month, with more demonstrations planned for this Saturday.
Today’s guest: Ana Boata, Allianz Trade, Head of Economic Research
Chapters:
00:00:00 – Daybreak Europe
00:01:39 – Elice’s 33% Debut Plunge Rekindles Doubts Over AI Spending Boom
00:03:19 – Japan 20-Year Bond Sale Sees Record Demand
00:07:21 – Nscale, Anthropic in Talks for $45 Billion Cloud Computing Deal
00:12:49 – Merz Warns Europe That It’s Underestimating the Russian Threat
00:18:31 – French Unrest Tapers Off After Security Measures Imposed
00:27:46 – Ana Boata, Allianz Trade, Head of Economic Research
00:34:39 – Ukraine Suspects US Blocking Intelligence on Russian Attacks
——–
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Fed Chairman Kevin Warsh described AI as potentially the most consequential change to the US and global economy in his lifetime, calling it a positive supply shock over the medium term. He spoke at an IMF event moderated by IMF Chief Kristalina Georgieva in Bangkok, Thailand.
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Once-simple airline rewards programs have morphed into a convoluted system that makes it harder for customers to land deals.
Allyson Versprille explains why the airline rewards game is getting tougher to win
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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 than “Bloomberg Surveillance.”
Chapters:
00:00 Tech Rebound, France Riots and AI Earnings Test
03:54 Market Stress Is Mostly Driven by Technicals — Max Kettner, HSBC Bank
18:25 GOP Russia Pushback Has Limited Bite — Tobin Marcus, Wolfe Research
31:46 AI Financing Stress Favors Mega-Cap Tech — Angelo Zino, CFRA
40:04 Yellow Vests Plan New France Protests After Riots — Oliver Crook
42:11 Markets Rightfully Lowering ECB Hike Expectations — Andrew Sheets, Morgan Stanley
53:40 Buy the Tech Selloff, but Move Up in Quality — Chris Harvey, CIBC
1:06:19 Cost of Living Is Driving Midterm Discontent — Jessica Taylor, The Cook Political Report
1:19:34 Meta Is ‘Cool Again’ and Winning Back Trust — Rich Greenfield, LightShed Partners
1:30:03 5% Treasury Yields Are Attractive — Subadra Rajappa, Société Générale
1:41:25 AI Debt Could Trigger a Sharp Selloff — Peter Tchir, Academy Securities
1:53:41 AI Shakeout Could Hit the Biggest Players — Sarah Kunst, Cleo Capital
2:07:43 Why Wait? Fed Should Hike in October — Aditya Bhave, BofA Securities
2:18:02 Buy the AI Dip, but Buy It Carefully — Kelly Kowalski, MassMutual
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@blackrocks8413
December 21, 2023 at 5:41 am
Dr Gay, cheated on her works to get a position, she is full of double standards. … she's arrogant. Wait that is likely what they look for in College presidents
@eniselmenic5056
December 21, 2023 at 5:41 am
if this is your view then the bible must be banned on campus. the bible says god will end the Jews. sorry but there is no "context" allowed.
So will you ban the bible, or is there "context"?
@santhithomas4623
December 21, 2023 at 5:41 am
Stop funding for all the Universities that supports Anti-Semitism and the jihadi terror groups like Hamas. No scholarships for these students. Elect new Presidents for these universities immediately.
@davidhornback2138
December 21, 2023 at 5:41 am
Yep
@JETEXECUTIVE
December 21, 2023 at 5:41 am
Congress real reason for going after these schools is to get rid of Diversity and Inclusion. Point Blank Period. They want to take over our Higher Education Institutions to send us back to the Jim Crow Era when only the elites would be admitted to these institutions. But Congress hasn't realized that their is far more foreign money in these schools then US Money (wealthy people from other countries often send there kids to the US for education at prestigious universities) Not to Mention Alumni Money which keeps Nepotism Alive. I'm not anti-sematic but when it comes to Students Young Kids I believe that they all deserve protection and shouldn't be subject to attack whether Black, Asian, Indian, Jewish or Palestinian. Congress failed to even acknowledge the two 20 Year Old Palestinian Students who were Shot in Vermont (off-campus) near the University of Vermont. One of whom were paralyzed. We need to preach inclusion for all and stop making everything about one group of people. Congress needs to get thier hands of our Private and Public institutions. To force colleges to fire their Presidents cause they are not following the ideology of MAGA is scary which moves us many step forward to becoming a dictatorship.
@qarulxira8697
December 21, 2023 at 5:41 am
Really….
What – ridicule…. What about when u insulted a whole pple … n their faith ….
@kirkyyz438
December 21, 2023 at 5:41 am
all these people are paid actors who has the most money wins
@amadisdee6054
December 21, 2023 at 5:41 am
What a bunch of hipocrisy in the USA. Speech is controlled but dropping bombs on the people of GAZA is o.k.
@on2thenextthing
December 21, 2023 at 5:41 am
Proof that woke diversity hires are a bad idea.
@user-yy9hk9od9u
December 21, 2023 at 5:41 am
Yes, they should step down.
@frederickj.hawkins522
December 21, 2023 at 5:41 am
Free Palestine.
@frederickj.hawkins522
December 21, 2023 at 5:41 am
No-one is calling for the genocide of Jews. They are calling for the Jews to stop their genocide of the Palestinians.
@ruthtepper8431
December 21, 2023 at 5:41 am
Claudine Gay, We would like you to resign. Your "Context" does not fit basic moral standards.
@davabaye2656
December 21, 2023 at 5:41 am
Magill is still on campus, this means nothing. I hope students and parents sue the universities and individuals.
@user-ft4sy5vk9t
December 21, 2023 at 5:41 am
The term " from the river to the see " does not mean killing the Jews. The Palestinians mean that the Ashkenazi Jews either have to return to their original countries, or to accept the return of the Palestinians refugee from abroad and establishing a democratic state. History witnesses that WE MUSLIMS have never butchered Jews as the Europeans did. Actually David J. Wasserstein a professor of, Jewish Historic Studies at Vanderbilt University in Nashville, Tennessee : says that .” In the early seventh century C.E. Judaism was in crisis. In the Mediterranean basin it was battered by legal, social, and religious pressure, weak in numbers and culturally almost non-existent. It was also largely cut off from the Jewry of the Persian Empire, in Babylon, present-day Iraq. The future seemed clear: extinction in the West, decline to obscurity in the East. Salvation came from Arabia. Islam conquered the entire Persian Empire and most of the Mediterranean world. Uniting virtually all the world’s Jews in a single state, it gave them legal and religious respectability, economic and social freedoms, and linguistic and cultural conditions that made possible a major renaissance of Judaism and the Jews. The significance of Islam for Jewry has been interpreted very variously since the middle ages and is a source of controversy to this day
@sensibility9478
December 21, 2023 at 5:41 am
We are still waiting on all these Right Wing Pundits to condemn Charlottesville Marchers Chanting "Jews will not Replace Us" Hypocrites
@helpme100
December 21, 2023 at 5:41 am
Im sure everyone wants her to step down , especially when it is that demographic. I believe it is unfortunate more ppl dont support her, nothin' about her statement allows harm of people. Just fear mongering
@missannsitting2246
December 21, 2023 at 5:41 am
But he is quiet on trump 👀 Time for his lies to begin
@hightide4782
December 21, 2023 at 5:41 am
Republicans banned “To Kill a Mockingbird,” “Charlotte’s Web,” “1984,” and others of quality. They said slavery was a benefit to slaves in providing them job training. They forbade classroom discussion about systemic discrimination in US history. They stacked the Supreme Court to deny women the right to control their reproductive lives. And on and on ….
It just goes to show how craven and corrupt so much of the business community has become to associate with a political party like that. It’s beneath contempt.
@jesusromo1571
December 21, 2023 at 5:41 am
Leaders should say what is right an wrong? Do you mean Joe Biden? No thanks 😂
@jesusromo1571
December 21, 2023 at 5:41 am
Leaders should say what is right an wrong? Do you mean Joe Biden? No thanks 😂
@bdpsingapore
December 21, 2023 at 5:41 am
He needs to manage his own State's Institutions.
@Koba_78
December 21, 2023 at 5:41 am
Sad to see them all become victims of their own bs, but serves everyone involved in this sorry saga (including the hedge fund manager and the alum) right. Degenerate society, degenerate arguments, all of them desecrating the memory of victims of Holocaust. They would abhor each and every one of these narcissistic fools and be disgusted by not just the academics, but the alumni filling cases against them while so many innocents have died and are continuing to die at the hands of extremist warmongers from all sides.