Bloomberg Daybreak: US Edition

Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) Iran suggested negotiations to get more ships moving through the Strait of Hormuz are making progress, after President Donald Trump called off what he said was a major attack on the Islamic Republic. Oil fell on Monday, with Brent crude down about 4.5% to just over $83 a barrel, after Iran’s foreign minister, Abbas Araghchi, said discussions between Tehran and Oman over management of the strait are in the final stages. Trump said Sunday that a deal to open the waterway may be close and that new unspecified talks with Iran would begin on Monday.
2) Stocks and bonds rose as the latest sign of easing tensions between the US and Iran pushed oil prices lower, allaying concerns about faster inflation. S&P 500 futures added 0.5%, signaling a positive start to a week awash with key economic data and corporate earnings. Brent crude slid as much as 7.3% to $81.55 a barrel after President Donald Trump called off a planned attack on Iran. Treasuries rose across the curve, with the benchmark 10-year yield dropping four basis points to 4.69%.
3) The US and Japan’s first joint action on the yen in 15 years, with warnings they won’t “hesitate” to move again, has underscored their unprecedented determination to defend the Asian currency. It’s still unclear how much Washington spent to help lift the yen from its four-decade low. But the currency’s rebound points at interventions larger than in 1998 and 2011, when US contributions didn’t surpass the $1 billion mark. Japan alone is estimated to have spent $53 billion on Thursday — a likely single-day record.
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Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week.
In the US – a look ahead to the July jobs report in the U.S with a focus on 3 stocks for the week ahead.
In the UK – a look ahead to some of the most consequential earnings releases of the year in Europe.
In Asia – a look ahead to key economic data for Vietnam in the week ahead, including numbers on consumer prices and trade.
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Today's top stories, with context, in just 15 minutes.
On today's podcast:
1) A rebound in global chipmakers carried into Friday, buoying stocks to end a month that saw a steep derating in this year’s most popular trade on a positive note. South Korean stocks surged on Friday, with the benchmark Kospi index rising a record 18% and chip heavyweights SK Hynix Inc. and Samsung Electronics Co. climbing 30% and 27%, respectively. The rebound was fueled by positive factors, including bullish reports on the artificial intelligence buildout overseas and a pledge of regulatory support from the government.
2) Amazon shares jumped after the company reported cloud-computing revenue accelerated for a fifth straight quarter, easing investors’ concerns that it won’t produce a return on huge expenditures to meet the booming demand for artificial intelligence. Apple tumbled in late trading after component shortages weighed on the company’s sales forecast, signaling that industrywide supply constraints are taking a bigger toll than anticipated.
3) The yen lost more than half of its intervention-driven gains on Friday as the Bank of Japan kept interest rates steady and Governor Kazuo Ueda offered little fresh support for the currency. Japan’s currency weakened as much as 0.9% to 160.88 per dollar on Friday after advancing as much as 3.3% versus the dollar in New York trading on Thursday.
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Apple tumbled in late trading after component shortages weighed on the company’s sales forecast, signaling that industrywide supply constraints are taking a bigger toll than anticipated. Revenue will rise 9% to 11% in the fiscal fourth quarter, which runs through September, the company said on a post-earnings conference call Thursday. Analysts had estimated growth of more than 12%.
For instant reaction and analysis, Bloomberg Businessweek Daily hosts Carol Massar and Tim Stenovec speak with:
Ed Ludlow, Bloomberg Tech co-host
Anurag Rana, Bloomberg Intelligence Senior Technology Analyst
Mark Gurman, Bloomberg News Managing Editor for Global Consumer Tech
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Amazon.com reported cloud-computing revenue that beat analyst estimates, with booming demand for artificial intelligence services accelerating sales for the fifth straight quarter. Revenue jumped 37% to $42.2 billion at Amazon Web Services, which generates about a fifth of the company’s revenue and most of its operating profit, the company said Thursday in a statement. It was the fastest pace of growth since the fourth quarter of 2021. Analysts, on average, forecast sales of $40.6 billion, according to data compiled by Bloomberg.

For instant reaction and analysis, Bloomberg Businessweek Daily hosts Carol Massar and Tim Stenovec speak with:
Ed Ludlow, Bloomberg Tech co-host
Poonam Goyal, Bloomberg Intelligence Senior Analyst for E-Commerce and Athleisure
Anurag Rana, Bloomberg Intelligence Senior Technology Analyst
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