Nvidia Hits All-Time High; Big Bank Earnings Preview
On today's podcast: 1) Nvidia surges to an all-time high on news it will resume Chip sales to China. US government officials told Nvidia they would green-light export licenses for the H20 artificial intelligence accelerator, according to the company. The move is seen as a "massive win" for Nvidia's Chief Executive Officer Jensen Huang, and is also viewed positively by Vey-Sern Ling, managing director at Union Bancaire Privee, who says it is "obviously positive" for Nvidia, the AI semiconductor supply chain, and China tech platforms.2) The European Union puts out new tariff targets if it can't reach a deal with the US. The European Union has finalized a list of countermeasures to target US goods worth €72 billion, including Boeing Co. aircraft, automobiles and bourbon. The list includes US machinery products, chemicals and plastics, medical devices, electrical equipment, wines and other agricultural goods, according to a document prepared by the European Commission. The EU trade chief Maros Sefcovic says the US tariff policy is "effectively prohibitive" to transatlantic trade, and the EU insists any settlement must be mutually beneficial to both sides.3) Big bank earnings begin with JPMorgan Chase, Wells Fargo, and Citi reporting. America’s biggest banks are heading into earnings season with tailwinds from trading and lending as they benefit from market volatility and steady borrowing costs. Investment banking may be a weak spot as sluggish closings offset a pickup in deal announcements, Bloomberg Intelligence said.See omnystudio.com/listener for privacy information.
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EU-US Tariff Battle Heats Up; Trump Will Send Air-Defense to Ukraine
On today's podcast: 1) The EU is preparing to step up its engagement with other countries hit by Donald Trump’s tariffs following a slew of new threats to the bloc and other US trading partners, according to people familiar with the matter.2) President Donald Trump said the US will send more Patriot air-defense batteries to Ukraine, which Kyiv has said it needs to protect itself from Russian airstrikes.3) Bitcoin breached $120,000 for the first time, with investor enthusiasm showing few signs of dimming as the US House of Representatives prepares to consider key industry legislation during its “Crypto Week” starting Monday.See omnystudio.com/listener for privacy information.
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Daybreak Weekend: Netflix Earnings, Reeves Speech, Japan Eco
Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week. In the US – a look ahead to U.S CPI and PPI data, along with Netflix earnings. In the UK – a look ahead to a speech from UK Chancellor Rachel Reeves. In Asia – a look at several key data points for the Japanese economy. See omnystudio.com/listener for privacy information.
On today's podcast: 1) President Donald Trump threatened a 35% tariff on some Canadian goods and raised the prospect of increasing levies on most other countries, ramping up his trade rhetoric in comments that weighed on stocks and boosted the US dollar.2) Stocks rose as traders parsed a batch of corporate outlooks, with the S&P 500 hitting a record and approaching 6,300.3) President Donald Trump said he plans to make a “major statement” on Russia, as the US prepares to send more American weapons to Ukraine via purchases from NATO allies.See omnystudio.com/listener for privacy information.
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Trump Hikes Brazil Tariffs; Texas Flood Recovery Efforts
On today's podcast: 1) Donald Trump’s threat to impose 50% tariffs on Brazilian goods sent the country’s currency plunging as the US leader sharply escalated a dispute with Latin America’s largest nation and leftist leader Luiz Inacio Lula da Silva. 2) Crews in central Texas are digging through massive piles of debris, overturned vehicles and shattered homes for a sixth day as the search continues for victims of flash floods that killed more than 100 people over the Fourth of July weekend. 3) Nvidia Corp. became the first company in history to achieve a $4 trillion market valuation, cementing its status as a kingpin in the global financial market.See omnystudio.com/listener for privacy information.
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