Bloomberg Daybreak: Asia Edition

US equity-index futures climbed as strong earnings from megacap tech firms bolstered optimism that corporate profits remain resilient. The dollar steadied after gaining on Federal Reserve holding interest rates. Contracts for the Nasdaq 100 rose 1.2% and those for the S&P 500 advanced 0.8% as Microsoft and Meta Platforms surged in after-hours trading. We break down the day's market headlines with Dean Smith, Chief Strategist at FolioBeyond. Plus - US President Donald Trump announced late Wednesday that he had reached a trade deal with South Korea that would impose a 15% tariff on its exports to the US, and see Seoul agree to $350 billion in US investments. We get reaction from Naomi Fink, Chief Global Strategist at Nikko Asset Management. She speaks with Bloomberg's Shery Ahn and Haidi Stroud-Watts on The Asia Trade.See omnystudio.com/listener for privacy information.

Shares in Japan fluctuated at the open while those in South Korea and Australia were flat Wednesday after the S&P 500 snapped a six-day rally. Treasuries were steady in early Asian trading after jumping the most in a month in the prior session. In the US, Federal Reserve policymakers are largely expected to hold interest rates steady for a fifth consecutive meeting at the conclusion of their July 29-30 gathering. Dissents from one or more officials could send the message that some members of the rate-setting Federal Open Market Committee prefer to reduce borrowing costs sooner rather than later. We preview Thursday's FOMC decision with Mark Heppenstall, President and CIO at Penn Mutual Asset Management. Plus - US and China will continue talks over maintaining a tariff truce before it expires in two weeks and Trump will make the final call on any extension. Adding an extra 90 days is one option, according to US Treasury Secretary Scott Bessent. Meantime, the International Monetary Fund said Tuesday that the world economy will keep weakening and remains vulnerable to trade shocks even though it is showing some resilience to Donald Trump's tariffs. We break down the latest trade headlines with Paul Donovan, Chief Economist at UBS Global Wealth Management. He speaks with Bloomberg's Shery Ahn and Haidi Stroud-Watts on The Asia Trade.See omnystudio.com/listener for privacy information.

Asian stocks slipped after a flat session on Wall Street, as investors stayed cautious amid a week packed with economic data and corporate earnings. The MSCI Asia-Pacific gauge dropped 0.7%, a third consecutive day of decline. The dollar steadied Tuesday after climbing the most since May in the prior session. The S&P 500 briefly topped 6,400, but closed little changed. Oil held its gain after President Donald Trump pushed for Russia to reach a swift truce with Ukraine or face potential economic penalties. We talk markets with Vance Howard, CEO and Portfolio Manager at Howard Capital Management. Plus - Commerce Secretary Howard Lutnick says a 90-day extension of a trade truce with China was a likely outcome with negotiations between the two countries underway in Stockholm. Lutnick's comments followed the start of a new round of talks between the world's two largest economies - this time in Stockholm, where Chinese Vice Premier He Lifeng and US Treasury Secretary Scott Bessent led the respective delegations. Earlier rounds saw Washington and Beijing agree to reduce tit-for-tat levies and ease export controls on certain technology and rare-earth minerals, easing tensions that had rattled financial markets as Trump moves to enact a sweeping tariff agenda. We get perspective from Marc Franklin, Managing Director & Senior Portfolio Manager, Asset Allocation, Asia at Manulife Investment Management. He speaks with Bloomberg's Shery Ahn and Avril Hong on The Asia Trade.See omnystudio.com/listener for privacy information.

Stock-index futures climbed after the European Union struck a deal with President Donald Trump that will see the bloc face 15% tariffs on most exports, averting a potentially damaging trade war. S&P 500 contracts rose 0.4% and those for European stocks jumped 1%. The euro was slightly stronger against the dollar after the US-EU deal. Asian shares fluctuated at the open as Japanese equities declined 0.4%. Treasuries dipped slightly with yields on the 10-year gaining one basis point to 4.4%. Gold edged lower and oil was marginally higher. Investors are bracing for a busy week of data - including meetings of the Federal Reserve and the Bank of Japan - and earnings from megacap companies that could set the tone for the rest of the year in markets and the economy. Stocks have risen from their slump in April as investors speculate the US will strike trade deals with countries and that will help avoid significant damage to company earnings and the global economy. We preview the trading week ahead with Clark Geranen, Chief Market Strategist at CalBay Investments. Plus - Australia and the UK signed a landmark 50-year defense treaty on Saturday to underpin the construction of nuclear-powered submarines, senior ministers from both nations said. Both sides stressed that the treaty doesn't impact the AUKUS security partnership between Australia, the UK and the US - currently under review by the Trump administration. For a closer look, we speak with Paul Allen, Australia Correspondent for Bloomberg Television.See omnystudio.com/listener for privacy information.

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 a monetary policy decision from the Fed and earnings from some of the “Magnificent Seven” tech companies. In the UK – a look at President Trump’s trip to Scotland. In Asia – a look at ahead to China PMI data and a conversation on Asia tech investing. See omnystudio.com/listener for privacy information.

The US and Japan this week reached what President Donald Trump called the largest trade deal in history after Tokyo pledged to set up a $550 billion fund for investment into the US, details of which remain obscure. The lack of clarity about how the fund will work adds to questions about the viability of the agreement, which imposes 15% tariffs on Japanese cars and other goods. While the start date and other basic elements are still unknown, Treasury Secretary Scott Bessent warned this week that the US would monitor implementation and bump the rate up to 25% if Trump isn't satisfied. In his latest column, Bloomberg Opinion's Gearoid Reidy writes that after three months, Prime Minister Shigeru Ishiba finally has his trade deal. Gearoid joins us to explain why it may be Ishiba's final act. Plus - the S&P 500 inched to a new record Thursday - its 10th in 19 days - driven by tech gains that papered over a broader weakness as most stocks in the benchmark dropped. The S&P 500 has surged 28% from its April lows as investors grew optimistic that President Donald Trump's tariff war won't hurt the economy and corporate earnings as initially feared. Meantime, South Korea's trade ministry said Friday that Industry Minister Kim Jung-kwan and US Commerce Secretary Howard Lutnick reaffirmed their will to reach a mutually beneficial trade agreement before August 1st deadline. For more on the economic impact of ongoing negotiations, we heard from Janet Henry, Global Chief Economist at HSBC. She speaks with Bloomberg's Shery Ahn and Haidi Stroud-Watts on The Asia Trade.See omnystudio.com/listener for privacy information.

Asian equities climbed for a sixth consecutive day as signs the US will do more trade deals after striking a pact with Japan injected fresh vigor into stocks. Megacap tech is in focus after a number of key earnings reports. SK Hynix outlined plans to quicken spending on advanced memory chip capacity after reporting record earnings, reflecting surging AI demand and a drive to stay ahead of rivals. The South Korean company notched a bigger-than-expected 68% jump in operating income in the June quarter. Stateside, shares of Google parent Alphabet climbed in after-hours trading on better-than-expected revenue. Meantime, CEO Elon Musk warned of a hard year ahead for Tesla, adding to the automaker's woes after reporting one of its worst quarters of the last decade. We get reaction to the Tesla story from Michael Dunne, CEO at Dunne Insights. He speaks with Bloomberg's Shery Ahn and Haidi Stroud-Watts on The Asia Trade. Plus - in her latest column, Bloomberg Opinion's Karishma Vaswani says hearsay about the inner workings of the Politburo has a long tradition of being wholly inaccurate. With that, intrigue over Chinese President Xi Jinping's future is no less than speculative, and the result of a succession crisis of his own making. She joins us to dissect the coded signals coming out of Beijing, and why the obsession with Xi's fate reflects the West's blind spots about Chinese politics.See omnystudio.com/listener for privacy information.

The record-breaking run in global stocks got fresh fuel to power the rally after the US reached a trade deal with Japan, an agreement with a key trading partner that eases concerns about the tariff war. MSCI's benchmark gauges for global equities and Asian shares both rose Wednesday. Contracts for the S&P 500 edged up on the tariff news after closing at its highest level Tuesday. Stocks in Japan jumped more than 2% with Toyota Motor Corp. and other automakers leading the gains. We break down the day's developments with David Aspell, Partner and Co-Chief Investment Officer at Mount Lucas Management. Plus - investors are also focused on megacap companies this week. Big Tech's strength will be on full display over the next few weeks as the group begins unveiling quarterly earnings. Tesla Inc. and Alphabet Inc. are reporting Wednesday. The so-called Magnificent Seven companies are expected to post a combined 14% rise in second-quarter profits, while earnings for the rest of the US equity benchmark are predicted to be relatively flat, according to Bloomberg Intelligence data. We discuss the role AI will play in those reports with Stephanie Leung, Chief Investment Officer at StashAway.See omnystudio.com/listener for privacy information.

The start of a busy week for Corporate America saw stocks giving up most of their gains, with traders looking for signs of resilience in earnings amid tariff risks. Treasury yields fell alongside the dollar. While the S&P 500 closed above 6,300 for the first time, the gauge rose just 0.1%. Energy shares joined a decline in oil. Chipmakers almost erased their advance as Nvidia Corp. slipped. Fellow megacaps Tesla Inc. and Alphabet Inc. will kick off the group's earnings season this week. The stakes will again be high as investors look for updates on artificial-intelligence spending. We break down the day's price action with Ed Butowsky, Managing Partner at Chapwood Investments. Plus - shares in Tokyo gained 1% as trading resumed after a public holiday Monday. The MSCI regional stock gauge advanced 0.3% in early trading. Market participants are focused on the performance of Japanese markets as investors weigh policy uncertainty after the ruling Liberal Democratic Party's historic loss in Sunday's elections. For a closer look, we hear from Sean Darby, Managing Director at Mizuho Securities Asia. He speaks with Bloomberg's Shery Ahn and Paul Allen on The Asia Trade.See omnystudio.com/listener for privacy information.

The yen recouped some of last week's losses as investors weighed the extent of the defeat suffered by Japan's ruling coalition in the weekend's upper-house election. Asian stock markets edged down. Japan's currency had dropped for two weeks and bond yields spiked ahead of the vote on concern a poor showing by Prime Minister Shigeru Ishiba would open the door to more spending and tax cuts. While the ruling Liberal Democratic Party and its partner lost their majority in the chamber, their final tally may be enough to keep Ishiba in the job. We get reaction from Shuntaro Takeuchi, Portfolio Manager at Matthews Asia. Plus - Donald Trump is struggling to get the Federal Reserve to cut interest rates, but policymakers around the world won't need so much convincing. The US president's tariff onslaught is likely to force further measured easing in coming months by most of the 23 central banks featured in this quarterly guide on the global monetary outlook, according to Bloomberg Economics. Federal Reserve Governor Christopher Waller hinted he would dissent if his colleagues vote to hold interest rates steady at their July meeting, making his case for a rate cut to support the labor market. We take a look at the Fed's path ahead with Clayton Triick, Head of Portfolio Management, Public Strategies, at Angel Oak Capital.See omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with 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 housing data and earnings from Tesla. In the UK – a look ahead to the next ECB monetary policy decision. In Asia – a look at ahead to Japan’s upper house election. See omnystudio.com/listener for privacy information.

Asian stocks made a modest gain at the open Friday as a global equity rally gained fresh vigor on strong economic data that eased concerns about the US economy. The MSCI Asia Pacific Index rose 0.2% at the open. Equity-index futures for US gained after the S&P 500 and Nasdaq 100 set closing highs Thursday. Tech stocks rose as a bullish outlook from Taiwan Semiconductor Manufacturing Co. bolstered confidence in artificial-intelligence spending. Netflix Inc. also reported strong earnings and raised its forecast. We get market insights from Brian Vendig, Chief Investment Officer at MJP Wealth Advisors. Plus - Japan's key price measure cooled a tad more than expected while remaining well above the Bank of Japan's target, keeping pressure on Prime Minister Shigeru Ishiba to mollify voters as he heads into Sunday's national election. Consumer prices excluding fresh food rose 3.3% from a year earlier in June, slowing from a 3.7% gain - a two-year high - in the previous month, the Ministry of Internal Affairs and Communications reported Friday. We get reaction from former BOJ board member Sayuri Shirai, now Professor of Economics at Keio University. She speaks with Bloomberg's Shery Ahn and Haidi Stroud-Watts on The Asia Trade.See omnystudio.com/listener for privacy information.

Asian stocks struggled for direction at the open after US markets had a volatile session amid speculation about the future of Federal Reserve Chair Jerome Powell. In tariff news, President Trump dialed down his confrontational tone with China in an effort to secure a summit with counterpart Xi Jinping and a trade deal. Trump also said he would send letters to more than 150 countries notifying them of tariff rates and that the levies imposed could be 10% or 15%. We unpack how trade policy is resonating in APAC markets with Ecaterina Bigos, CIO for Asia ex-Japan Core Investments at AXA Investment Managers. Plus - the S&P 500 bounced as President Trump said he is "not planning" to remove Powell, after a White House official said the president was likely to seek the Fed Chair's ouster soon. Treasury two-year yields, which are more sensitive to imminent Fed moves, slid five basis points to 3.89%. The dollar halted a four-day advance. Softer-than-estimated inflation data also helped fuel the moves on Wednesday, reinforcing bets on Fed rate cuts in 2025. We get reaction to the day's market action from Rich Mullen, Founding Partner and CEO at Pallas Capital Advisors.See omnystudio.com/listener for privacy information.

Asian stocks moved lower in the early Wednesday session after relatively tame inflation data failed to ease Wall Street's worries about the impacts of tariffs, with initial rallies in US stocks and bonds sputtering on bets the Federal Reserve will keep rates on hold for now. The S&P 500 retreated after earlier topping 6,300. A gauge of US financial giants sank as Wells Fargo & Co. cut its guidance for net interest income. JPMorgan Chase & Co. dropped even as investment bankers eked out a surprise gain. Citigroup Inc. hit the highest since 2008 on a stock-buyback plan. While short-dated Treasuries led losses, longer maturities also slid - with 30-year yields topping 5%. We get reaction to the day's market action from Chuck Cumello, President and Chief Executive Officer at Essex Financial Services. Plus - Nvidia said late Monday that it received assurances that the US government would allow it to export some chips to China. Advanced Micro Devices, Nvidia's chief rival, quickly followed with a similar announcement. These export license approvals could generate billions of dollars in total revenue for the companies this year — and they mark a dramatic reversal after the Trump administration said the issue wasn't even up for debate. We take a closer look at what it means for the chip sector with Ray Wang, Research Director for Semiconductors, Supply Chain, & Emerging Tech at The Futurum Group. He speaks with Bloomberg's Haidi Stroud-Watts and Paul Allen on The Asia Trade.See omnystudio.com/listener for privacy information.

Asian equities are poised for a positive open as traders brush off President Donald Trump's latest tariff threats as bargaining tactics that are unlikely to derail global trade. Stock-index futures for Japan, Hong Kong and Australia pointed to a higher open in early Asian trading. The S&P 500 eked out a gain Monday as Trump indicated he's open to trade talks, though still insisted his new tariff rates are "the deals." Contracts for the S&P 500 and the Nasdaq edged lower and Bitcoin retreated from its record high. We get some market perspective from Carol Schleif, Chief Market Strategist at BMO Private Wealth. Plus - Mizuho Financial Group CEO Masahiro Kihara is signaling that he is confident the Japanese lender can meet its long-term target of about ¥1 trillion - or $6.8 billion - in annual profit even as trade wars threaten to stifle growth. He speaks with Bloomberg's Francine Lacqua in London.See omnystudio.com/listener for privacy information.

President Trump’s latest tariff threats are testing the market’s resilience after the US leader ratcheted up trade measures on everyone from Canada to Brazil to Algeria last week. Despite warnings of complacency, investors have so far behaved as if they’re counting on the president to back down, having seen previous U-turns from his administration. Meantime, the second quarter earnings season is also due to begin this week, with Wall Street expecting the weakest reporting season since mid-2023. We speak to Roderick von Lipsey, managing director, UBS Private Wealth Management.Plus - for more insight on President Trump's latest tariff moves and a look at the week ahead in Asia, we speak to Mary Nicola, Bloomberg MLIV Strategist in Singapore.See omnystudio.com/listener for privacy information.

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.

The story of US tariffs has dominated much of the conversation for markets. Earlier today, stocks advanced Thursday in a sign investors are shifting their focus from concerns about lower growth and higher inflation from tariffs to instead prepare for corporate earnings season, which starts in a few days. We speak to Keith Buchanan, Senior Portfolio Manager at Globalt Investments.Also - contracts for the S&P 500, which gained early in Asian trading, dipped 0.2% after Trump said he plans to impose ‘blanket’ tariffs of 15% or 20%. We get insight from Nadia Grant, Head of Global Equity at BNP Paribas Asset Management.See omnystudio.com/listener for privacy information.

Bitcoin surged past $112,000 for the first time, setting a fresh record alongside a broad rally in risk assets that has swept up technology stocks big and small. The original cryptocurrency rose as much as 3.1% to $112,009, pushing its gain this year close to 20%. The move underscores the speculative momentum gripping markets even as President Donald Trump unleashes a fresh barrage of tariff announcements. The crypto rally is far from isolated: Nvidia Corp.’s brush with a $4 trillion valuation in Wednesday trading helped push the S&P 500 within a whisker of its record, with fast-money investors joining the stock-market fray. We speak to Matthew Tuttle, CEO & CIO at Tuttle Capital Management.Also - President 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. In a letter posted to his social media account, Trump cited Jair Bolsonaro — the right-wing former president and Lula rival who is facing a trial on charges that he attempted a coup following his 2022 election defeat. For more insight, we heard from Deborah Elms, Head of trade policy at Hinrich Foundation.See omnystudio.com/listener for privacy information.

President Donald Trump vowed to push forward with his aggressive tariff regime in the coming days, stressing he would not offer additional extensions on country-specific levies set to now hit in early August while indicating he could announce substantial new rates on imports of copper and pharmaceuticals. The posturing on social media and at a Cabinet meeting on Tuesday came after traders initially shrugged off a series of letters and executive actions Trump issued Monday, pushing back the deadline for his so-called “reciprocal” tariffs while announcing the latest rates he planned for more than a dozen countries that had not succeeded in brokering quick trade agreements. For more the market outlook, we speak to Frances Stacey, Economic Strategist at Scarlet Oak Financial.Plus - Stephen Olson, Yusof Ishak Institute Senior Visiting Fellow and Former US Trade Negotiator gives us insight on where President Trump is going with his latest tariff announcement.See omnystudio.com/listener for privacy information.

President Donald Trump unveiled the first in a wave of promised letters that threaten to impose higher tariff rates on key trading partners, but suggested that he was still open to additional negotiations and pushed off increased duties until at least Aug. 1. Trump began the notifications with missives announcing his intent to impose 25% levies on goods from Japan and South Korea. A dozen more followed throughout the afternoon, outlining plans to tariff foreign goods from trading partners including South Africa, Indonesia, Thailand and Cambodia. We speak to Ahmed Riesgo, Chief Investment Officer at Insigneo.And for more analysis, we heard from Skyler Weinand, Chief Investment Officer at Regan Capital.See omnystudio.com/listener for privacy information.

Major US trading partners hurried over the weekend to secure trade deals or lobby for extra time, while Treasury Secretary Scott Bessent indicated that some countries lacking an agreement by the deadline Wednesday will have the option of a three-week extension to negotiate. Also, central banks in Australia, South Korea, and Malaysia are expected to keep interest rates on hold in the week ahead. We speak to Paul Dobson, Bloomberg's Executive Editor for Asia Markets.Plus - for more insight on President Trump's tariff deadline nearing and the economic week ahead for Asia, we heard from Trinh Nguyen, Natixis Senior Emerging Asia Economist.See omnystudio.com/listener for privacy information.

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 Delta earnings and a summer travel outlook. In the UK – a look ahead to JP Morgan's Jamie Dimon visit to Ireland ahead of the US tariff deadline for Europe In Asia – a look at how recent data from China are providing an ambiguous read on the health of the world's second largest economy. See omnystudio.com/listener for privacy information.

Asian equities were set to climb Friday following fresh highs for US stocks as strong jobs data eased concerns the economy slowing down. Treasuries fell and the dollar rose Thursday in a sign traders see less pressure on the Federal Reserve to cut interest rates after US jobs growth exceeded expectations in June. Swap traders saw almost no chance of a July Fed cut, compared with a roughly 25% probability seen before the data. The chance of a move in September ebbed to about 70%. We get reaction from Rob Haworth, Senior Vice President and Senior Investment Strategy Director at U.S. Bank Asset Management Group. Plus - US markets closed prior to the House passing President Donald Trump's tax bill that had weeks earlier sparked concerns over rising deficits. Separately, Trump also said his administration may begin sending out letters to trading partners as soon as Friday setting unilateral tariff rates ahead of a July 9 deadline for negotiations. Before the vote, we heard from Treasury Secretary Scott Bessent. He spoke with Bloomberg's Romaine Bostick and Matt Miller.See omnystudio.com/listener for privacy information.

A rally in several big tech companies fueled gains in US stocks, with the market extending its advance as President Donald Trump said he reached a trade deal with Vietnam. Treasuries fell as a selloff in UK bonds underscored deficit worries. Following earlier losses driven by weak jobs data, the S&P 500 rose to fresh all-time highs. In the run-up to the jobs report, economists forecast employers added 110,000 jobs in June — the fewest in four months — amid a slight rise in the unemployment rate to 4.3%. The Bureau of Labor Statistics report is due Thursday, a day earlier than usual because of the Independence Day holiday. We get reaction to the day's market moves from Brian Krawez, President at Scharf Investments. Plus - the trade truce between Washington and Beijing may be holding for now, but China is increasingly wary about what's happening elsewhere: US efforts to forge deals that could isolate Chinese firms from global supply chains. Ahead of a July 9 deadline, US officials are deep in talks with major trading partners in Asia and Europe, pushing for new agreements that would include restrictions on Chinese content, or secure commitments to counter what Washington sees as China's unfair trade practices. In the first such deal, President Donald Trump on Wednesday announced a tiered tariff agreement with Vietnam. Exports to the US from the Southeast Asian nation will be charged a 20% rate, Trump said in a social-media post, with 40% levied on any goods deemed to be transshipped through the country. We get the latest from Jill Disis, Bloomberg News Desk Editor in Hong Kong. She speaks with Bloomberg's Shery Ahn and Haidi Stroud-Watts on The Asia Trade.See omnystudio.com/listener for privacy information.

Asian shares edged lower at the Wednesday open after President Donald Trump said he won't delay the July 9 deadline for imposing higher levies on trading partners, ratcheting up trade tensions yet again. Back in June, China and the US reaffirmed their May trade truce, sustaining a rebound in trade flows and propelling China's economic momentum. Bloomberg Economics says consumption also showed signs of revival, but the trend is unlikely to last without continuous policy efforts that promote domestic demand. We take a look at the state of the Chinese economy with Shehzad Qazi, Chief Operating Officer and Managing Director at China Beige Book International. Plus - US job openings hit the highest since November, largely fueled by leisure and hospitality, and layoffs declined. Federal Reserve policymakers have consistently characterized labor-market conditions as strong in recent weeks. Fed Chair Jerome Powell repeated that the US central bank probably would have cut rates further this year absent Trump's expanded use of tariffs, although he didn't rule out easing at its meeting later this month. We get market insights from Jeff Grills, Head of EM Debt at Aegon Asset Management.See omnystudio.com/listener for privacy information.

Asian stocks are poised for a cautious open as investors weighed the buoyant mood on Wall Street with lingering concerns over the global impact of President Donald Trump's tariff agenda. Equity-index futures pointed to a decline in Tokyo as Trump threatened to impose a fresh tariff level on Japan. Contracts for the S&P 500 edged down 0.1% after the index notched its best quarter since December 2023 on Monday, with technology shares leading. Wall Street's bulls drove stocks to all-time highs at the end of a solid quarter amid hopes the US is moving closer to reaching concrete deals with its top trading partners. We break down the forces driving the day's price action with Burns McKinney, Managing Director and Senior Portfolio Manager at NFJ Investment Group.Plus - with thousands of generative AI tools flooding the market and firms slashing prices to zero, Chinese startups are battling not just global rivals - but each other. We explore the challenges facing the so-called "Little Dragons," the role of state support, and why monetizing AI might be the industry's biggest unsolved puzzle with Catherine Thorbecke, Asia Tech Columnist for Bloomberg Opinion.See omnystudio.com/listener for privacy information.

US equity-index futures edged higher as trade talks gathered pace ahead of a July 9 deadline and Senate negotiations continued over President Donald Trump's $4.5 trillion tax cut package. Contracts for the S&P 500 index and the Nasdaq 100 rose 0.3%. Major currencies were slightly higher against the dollar in early Asian trading, while stock futures showed gains in Japan, a decline in Hong Kong and little change in Australia. Crude oil fell 1% as traders wound back risk premium before OPEC+ meeting. We get some market perspective from Shams Afzal, Managing Director at the Carnegie Investment Counsel.Plus - Monetary policymakers from five major economies will gather Tuesday at the European Central Bank's annual retreat in Sintra, Portugal. The summit comes as Trump-era trade turbulence and geopolitical instability weigh on global markets. Fed Chair Jerome Powell and ECB head Christine Lagarde are set to share a public stage for the first time in a year. For more on how tariffs are impacting economic outlooks, we heard from Louise Loo, Lead Economist at Oxford Economics. She speaks with the hosts of Bloomberg Television's The Asia Trade, Shery Ahn and Haidi Stroud-Watts.See omnystudio.com/listener for privacy information.

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 the June jobs report and commodities outlook. In the UK – a look ahead to the annual summer economic conference in the Southern French city of Aix. In Asia – a look at relations between China and Iran. See omnystudio.com/listener for privacy information.

Asian stocks advanced after a gauge of global equities touched a record high Thursday on calming geopolitical concerns and increased expectations for Federal Reserve interest-rate cuts this year. Equities in Japan, South Korea and Australia all rose Friday after the S&P 500 advanced 0.8% to within striking distance of a new high. The Nasdaq 100 achieved the feat after rising 0.9% on Thursday, helping MSCI's global shares index to a record high. US stock futures edged higher Friday. We get market insights from Rebecca Walser, President at Walser Wealth Management.Plus - Commerce Secretary Howard Lutnick says the US and China have finalized a trade understanding reached last month in Geneva. The China deal, which Lutnick said had been signed two days ago, codifies the terms laid out in trade talks between Beijing and Washington, including a commitment from China to deliver rare earths used in everything from wind turbines to jet planes. Lutnick speaks with Bloomberg Balance of Power hosts, Joe Mathieu and Kailey Leinz.See omnystudio.com/listener for privacy information.

The US stock rally lost some steam Wednesday with the S&P 500 Index ending the day flat after Federal Reserve Chair Jerome Powell told lawmakers that officials are struggling to determine the toll of tariffs on inflation. The benchmark closed the session unchanged in New York after swinging between small gains and losses, while the technology heavy Nasdaq 100 Index edged up 0.2% to log another all-time closing high. The tech benchmark reached the milestone Tuesday for the first time since February as a combination of robust fundamentals and easing geopolitical tensions boosted the appeal of the growth-focused gauge. In individual stock moves, Nvidia shares closed at an all-time high, with the leader in artificial intelligence chips extending an advance that has cemented its position as one of the most valuable companies in the world. We get reaction to the day's price action from Katy Kaminski, Chief Research Strategist at AlphaSimplex.Plus - Hong Kong's de facto central bank bought the local dollar to prop it up on Thursday, in a move to defend the city's currency peg to the greenback. The Hong Kong Monetary Authority purchased HK$9.42 billion ($1.2 billion) of local currency against the US dollar, after the exchange rate touched the weak end of the permitted 7.75-7.85 per greenback trading band. In addition to pushing the currency back into its permitted trading range, the move will also make bearish bets more costly. It does this by draining liquidity from the financial system and driving up borrowing costs. We get reaction from Garfield Reynolds, Bloomberg's MLIV Asia Team Lead. He speaks with Bloomberg's Haidi Stroud-Watts and Avril Hong.See omnystudio.com/listener for privacy information.

Stocks in Asia opened on a cautious note as the Israel-Iran truce appeared to hold and Federal Reserve Chair Jerome Powell gave balanced comments on prospects for rate cuts. Late Tuesday in the States, President Donald Trump appeared to undermine years of US sanctions on Iran, giving its biggest customer China the green light to carry on buying its oil as he seeks to bolster a ceasefire with Israel. We discuss Beijing's role in what now appears to be a subdued conflict with Jenni Marsh, Greater China Eco-Gov Team Leader for Bloomberg News. Plus - Treasury yields and a gauge of the dollar steadied. The benchmark 10-year yield shed five basis points in the previous session as Fed Chair Powell said "many paths are possible" for monetary policy. We look at the US central bank's path ahead with JoAnne Bianco, Partner and Senior Investment Strategist at BondBloxx Investment Management.See omnystudio.com/listener for privacy information.

President Donald Trump announced Israel and Iran had agreed to what he called a “complete and total” ceasefire, easing fears that a conflict between the two adversaries might escalate. Trump, who made the surprise announcement on his Truth Social platform days after ordering airstrikes on Iran’s nuclear facilities, said the accord would begin around midnight US time and is aimed at a lasting end to the fighting. Iranian Foreign Minister Abbas Araghchi said in a tweet afterward that while there is no ceasefire agreement, his country had no intention to keep responding to Israeli attacks after 4:00 a.m. Tehran time. We break down the headlines with Joe Mathieu, co-host of Bloomberg Radio and Television’s Balance of Power. Oil slumped and stocks rallied after Trump announced the ceasefire, spurring optimism the worst of the Middle East conflict is over. Global benchmark Brent crude tumbled almost 5% in early Asian trading after the surprise comment. S&P 500 futures rose 0.5%, while key stock indexes advanced in Japan, Hong Kong and Australia. The news damped demand for haven assets with the dollar weakening against all its Group-of-10 peers and gold dropping. Bloomberg’s Jill Disis speaks with our TV colleagues, Yvonne Man and David Ingles, in Hong Kong. Plus - we look at how all the day’s news may play into the Federal Reserve’s inflation outlook. We get market insights from Ross Mayfield, Investment Strategist at Baird.See omnystudio.com/listener for privacy information.

Oil surged after the US struck Iran's three main nuclear sites and threatened further attacks, exacerbating a crisis in the Middle East and stoking concerns that energy supplies from the region could be disrupted. The US assault — which targeted sites at Fordow, Natanz, and Isfahan — dramatically raises the stakes in the confrontation by increasing the premium that traders are pricing into the global energy market. The extent of the gains will hinge on how Tehran opts to respond to the US moves. For more on the burgeoning conflict, we hear from former US Ambassador to the United Nations, John Bolton. He speaks with Bloomberg's Joe Mathieu and Kailey Leinz. Plus - US stock index futures slid ahead of the Asia session following those weekend strikes in Iran. S&P 500 futures opened nearly 1% lower before paring their loss, while contracts on the Nasdaq 100 fell nearly 1.3%. We get market insights from Gene Goldman, Chief Investment Officer at Cetera Financial Group.See omnystudio.com/listener for privacy information.

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 GDP and personal spending data and Nike earnings. In the UK – a look ahead to TheCityUK's annual conference. In Asia – a look ahead to Bloomberg’s China economic survey.-----------------------------------------------------------------Guests:-Michael McKee, Bloomberg International Economics and Policy Correspondent, to preview next week's U.S GDP/personal spending data.- Poonam Goyal, Senior U.S. E-Commerce and Retail Analyst at Bloomberg Intelligence, to preview Nike earnings. -Leo Kehnscherper, Bloomberg European Asset Management Reporter, looks ahead to TheCityUK's annual conference. -Julian Harris, UK Economics Editor, looks ahead to TheCityUK's annual conference. - Eric Zhu, China Economist for Bloomberg Economics, discusses Bloomberg’s China Economic Survey. -Karishma Vaswani, Bloomberg Opinion Columnist in Singapore, discusses her column: “US Rethink on Australia Subs Is China’s Win.” See omnystudio.com/listener for privacy information.

US equity futures moderated declines early Friday as President Donald Trump weighs whether to back Israel militarily in its conflict with Iran. Contracts for the S&P 500 were down around 0.3% from Wednesday's close in early Asia hours, compared with a 0.9% drop on Thursday when US markets were closed for the Juneteenth holiday. While traders were offered some short-term clarity as the White House said Trump will decide within two weeks whether to strike Iran, the remarks did little to resolve broader uncertainty around potential US involvement and the risk of renewed energy-driven inflation. For more on what's ahead, we heard from Maria Rost Rublee, Professor of International Relations at the University of Melbourne. She speaks with Bloomberg's Shery Ahn and Haidi Stroud-Watts. Markets were already on edge after the Federal Reserve downgraded its estimates for growth this year and projected higher inflation. As projected, Fed officials held rates steady at their policy meeting this week. We get some analysis from David Laut, Chief Investment Officer at Abound Financial.See omnystudio.com/listener for privacy information.

Senior US officials are preparing for the possibility of a strike on Iran in the coming days, according to people familiar with the matter, a sign that Washington is assembling the infrastructure to directly enter a conflict with Tehran.Meantime, there are a lot of unknowns about the outlook for the economy and interest rates, but Federal Reserve Chair Jerome Powell signaled at least one thing seems certain: Higher prices are coming. Policymakers voted unanimously to hold interest rates steady for a fourth straight meeting Wednesday as they await clarity on whether tariffs will leave a one-time or more lasting mark on inflation. Powell said it’s still unclear how much of the bill will fall on the shoulders of consumers, but he expects to learn more about tariffs this summer. For more, we speak to Mark Cranfield, Bloomberg MLIV Strategist in Singapore.Plus - for more on the Federal Reserve's latest decision, we heard from Betsey Stevenson. She is a Professor at the University of Michigan. Stevenson was also a former Chief Economist of the United States Department of Labor.See omnystudio.com/listener for privacy information.

Oil climbed and most stocks in Asia followed losses on Wall Street as concerns mounted that an escalation of tensions in the Middle East will trigger a more direct US involvement. West Texas Intermediate crude rose as much as 1.1% in early trading Wednesday after settling at the highest in almost five months the previous day. US equity futures slipped, as did Australia’s benchmark index and Hong Kong futures.Staying with geopolitics, The White House's review of the Aukus pact — a security arrangement between the US, UK and Australia — is rattling one of Washington’s closest alliances, and playing right into China’s hands. It sends yet another signal that America First might just mean everyone else alone. First announced by former President Joe Biden in 2021, the multibillion-dollar deal commits Washington and London to help Canberra develop a fleet of nuclear-powered submarines over a 30-year period. It was designed to help counter Beijing’s growing influence in the Indo-Pacific. For more, we turn to Bloomberg Opinion columnist Karishma Vaswani. Plus - Federal Reserve officials are widely expected to leave interest rates unchanged for a fourth straight meeting on Wednesday, reiterating they want more clarity on the economic impact of a wide array of government policy changes before adjusting borrowing costs. Policymakers have warned President Donald Trump’s tariffs could boost inflation and unemployment, but so far, steady hiring and cooling inflation have allowed Fed officials to keep rates unchanged this year. We speak to Bill Campbell, Global Bond Portfolio Manager at DoubleLine.See omnystudio.com/listener for privacy information.

President Donald Trump called for the evacuation of Iran’s capital Tehran on Monday, hours after he urged the country’s leadership to sign a deal to limit its nuclear program and Israel signaled strikes would continue. It wasn’t clear if Trump knew of a fresh round of attacks Israel may have planned for the city, which has a population of more than 9 million people. Israel had earlier warned one Tehran neighborhood to evacuate and video showed massive traffic jams as people sought to escape. Soon after Trump’s post, Iran’s Fars news agency reported several explosions east of the city. For more, we heard from Middle East Analyst and Author Rodger Shanahan. He spoke to Bloomberg's Paul Allen and Shery Ahn. Plus- President Trump's comments on evacuating Tehran caused a jolt in global markets, with US futures falling and oil prices rising almost 2%. Despite earlier optimism that the conflict between Israel and Iran wouldn't escalate, Trump's comments contrasted with his earlier statement that Iran wanted to make a deal. For more, we turn to James Abate, Managing Director & Head of Fundamental Strategies at Horizon Investments.See omnystudio.com/listener for privacy information.

Oil climbed early Monday with investors squarely focused on escalating geopolitical tensions as Israel and Iran continue to bombard each other with no sign of a pause. Brent crude rose as much as 5.5% in early Asian trading after Israel and Iran continued attacks on one another's territories over the weekend. Israel launched an attack on the giant South Pars gas field in the Persian Gulf, forcing the shut down of a production platform, after air strikes on Iran's nuclear sites and military leadership last week. For more, we speak with Pavel Molchanov, Investment Strategy Analyst at Raymond James & Associates. Plus - S&P 500 futures slipped, while Asian equity-index contracts pointed to declines in Hong Kong and Sydney, and a gain in Tokyo. The dollar saw modest gains against major peers in early trading. With Federal Reserve officials signaling an extended hold on interest rates, investors and economists will look to Chair Jerome Powell this week for clues on what might eventually prompt the central bank to make a move, and when. We take a look at the macro landscape with Patrick Kennedy, Founding Partner at AllSource Investment Management.See omnystudio.com/listener for privacy information.

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 next week’s Fed decision. In the UK – a look ahead to next week’s Bank of England decision. In Asia – a look ahead to next week's Bank of Japan decision. See omnystudio.com/listener for privacy information.

Stocks fell along with equity-index futures and investors rushed to the safety of havens such as Treasuries after Israel attacked Iran's nuclear program sites. Crude oil jumped more than 9% while gold also rose. We get the latest on what's moving markets from Mary Nicola, Bloomberg MLIV Strategist in Singapore. Plus - Treasuries rallied across the curve on Thursday, bringing the 10-year yield six basis points lower to around 4.36%. The gains were supported by the second US inflation print in as many days that came in below consensus forecasts, backing the argument for Fed cuts. The dollar hit a three-year low. The producer price index rose 0.1% from a month earlier, compared with the median forecast in a Bloomberg survey of economists that called for a 0.2% increase. A solid sale of long-term US government debt added further impetus for the rally, reducing fears that spiraling deficits are causing investors to shun the bonds. We talk inflation and trade with Natalia Gurushina, Chief Economist for EM Fixed Income Strategy at VanEck.See omnystudio.com/listener for privacy information.