Bloomberg Daybreak: US Edition podcast

Available Episodes

5 of 1452

Instant Reaction: Trump’s Global Tariffs Found Illegal by US Appeals Court
Most of President Donald Trump’s global tariffs were ruled illegal by a federal appeals court that found he exceeded his authority in imposing them, but the judges let the levies stay in place while the case is subject to further review.The US Court of Appeals for the Federal Circuit on Friday upheld an earlier ruling by the Court of International Trade that Trump wrongfully invoked an emergency law to issue the tariffs. But the appellate judges sent the case back to the lower court to determine if it applied to everyone affected by tariffs or just the parties involved in the case.Friday’s 7-4 decision by the Federal Circuit could extend the suspense over whether Trump’s tariffs will ultimately stand. The case had been expected to next go to the Supreme Court for a final ruling. The administration could now turn to the justices, who have largely backed the president on other matters. But the White House could also let the Court of International Trade revisit the matter first.“ALL TARIFFS ARE STILL IN EFFECT!” Trump said in a post on Truth Social shortly after the decision was issued. For instant reaction and analysis, Bloomberg Balance of Power cohost Joe Mathieu speaks with Harvard Kennedy School's Ash Center Democracy Visiting Fellow Jeanne Sheehan Zaino and Stonecourt Capital Partner Rick Davis, both Bloomberg politics contributors. See omnystudio.com/listener for privacy information.
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10:09
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10:09
Daybreak Weekend: Jobs Report, European Banking, China's Technology Battle
Bloomberg Daybreak Weekend with Host Tom Busby take a look at some of the stories we'll be tracking in the coming week. In the US – a look ahead to the August jobs report and earnings from Salesforce In the UK – a look at the future of Europe's banking industry In Asia – a look at how China is stepping up the technology battle with the US See omnystudio.com/listener for privacy information.
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38:55
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38:55
Waller Calls for Multiple Rate Cuts; Kennedy Deputy Named CDC Head
On today's podcast: 1) A leading candidate to replace Jay Powell as Fed Chair sees a quarter point rate cut in September. Federal Reserve Governor Christopher Waller called for lower interest rates, saying he would support a reduction in September. Waller anticipates additional cuts over the next three to six months, with the pace driven by incoming data. Waller said the chances of an undesirable weakening in the labor market have increased, and proper risk management means the FOMC should be cutting the policy rate now.2) President Trump's bid to fire Fed Governor Lisa Cook is headed for a showdown in court. Federal Housing Finance Agency Director Bill Pulte sent a new criminal referral against Federal Reserve Governor Lisa Cook over allegations of mortgage fraud. Cook is seeking to block President Trump's move to fire her, filing a lawsuit that labels the president's bid to oust her as “illegal” and casting it as a bid to seize control of the Fed.3) Robert F. Kennedy Jr. names his top deputy to replace the fired head of the CDC. The Trump administration is tapping Jim O'Neill as the acting director of the Centers for Disease Control and Prevention. The move follows the firing of Susan Monarez, who was ousted after a confrontation with Health and Human Services Secretary Robert F. Kennedy Jr. over vaccine policy. Kennedy said in a message to CDC staff that he and President Trump are aligned on a vision for the CDC to strengthen the public health infrastructure by returning to its core mission.See omnystudio.com/listener for privacy information.
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15:41
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15:41
Nvidia Drops as Markets Look Past Forecast; CDC Firing Uproar
On today's podcast: 1) Nvidia shares drop after the chip giant signals a slowdown in A-I spending. Meanwhile, markets shrug off the Nvidia disappointment and trade near record highs. Stocks shook off an initial drag from Nvidia Corp.’s sales outlook missing lofty expectations, indicating that momentum behind the record-breaking rally remains intact. The yield on 30-year Treasuries fell four basis points to 4.89% as pressure on long-dated debt eased, and European bonds staged a broad advance.2) US companies plan to buy back shares at a historic pace, a sign of Corporate America’s confidence in the economy. Announced buybacks surpassed $1 trillion on Aug. 20, marking the shortest amount of time needed to reach that level, according to data compiled by Birinyi Associates.3) The head of the CDC is fired in a dispute over Robert F. Kennedy Jr.'s vaccine policy. The Trump administration fired CDC Director Susan Monarez just weeks into her tenure, and at least three senior CDC leaders, including Demetre Daskalakis, Deb Houry, and Dan Jernigan, told coworkers they were resigning, citing reasons such as the "weaponizing of public health." The removal of Monarez and the resignations of senior leaders have intensified concerns about scientific integrity at the public health agency and underscore the growing distrust between many longtime agency scientists and Secretary Kennedy.See omnystudio.com/listener for privacy information.
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16:18
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16:18
Instant Reaction: Nvidia Gives Lukewarm Forecast, Stoking Fears of AI Slowdown
Nvidia, the world’s most valuable publicly traded company, gave a tepid revenue forecast for the current period, fueling concerns that a massive run-up in artificial intelligence spending is slowing. Sales will be roughly $54 billion in the fiscal third quarter, which runs through October, the company said in a statement Wednesday. Though that was in line with the average Wall Street estimate, some analysts had projected more than $60 billion. The forecast excluded data center revenue from China, a market where it has struggled with US export restrictions and opposing pressure from Beijing.The outlook adds to concern that pace of investment in artificial intelligence systems is unsustainable. The difficulties in China also have clouded Nvidia’s business. Though the Trump administration recently eased curbs on exports of some AI chips to that country, the reprieve hasn’t yet translated into a rebound in revenue.For instant reaction and analysis, hosts Tim Stenovec and Isabelle Lee speak with: Bloomberg Intelligence Global Head of Technology Research Mandeep Singh Bloomberg News Big Tech Team Leader Sarah Frier Jay Goldberg, Senior Analyst, Semiconductors & Electronics with Seaport Research Partners See omnystudio.com/listener for privacy information.
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19:18
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19:18