Bloomberg Daybreak: Asia Edition

Business and finance news from the Asia-Pacific.
Stocks trimmed gains and crude oil climbed after US strikes on sites in Iran curbed optimism over a potential deal with Tehran. US equity-index futures rose 0.6%, though gains were more subdued than Monday's holiday-thinned advance, when markets in the US were closed. Asian shares edged up 0.3%, off session highs, as American forces hit missile launch sites in Iran and boats trying to place mines, US Central Command said. The authorities described the attacks as defensive in nature. For more on the markets, we spoke to Lianting Tu, Bloomberg's Managing Editor for Asia Equities.
Plus - In a recent poll, Australians broadly expected the Labor government's annual budget would leave them worse off. Bloomberg's Haidi Stroud-Watts and Shery Ahn spoke to Amy Auster, CEO of the Policy Institute of Australia.
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On this special Memorial Day edition of Bloomberg Daybreak - hosted by Nathan Hager.
We look at the challenges ahead for new Fed Chair Kevin Warsh with Bloomberg News International Economics & Policy correspondent Michael McKee and Anna Wong, Chief US Economist with Bloomberg Economics
We preview Costco and Best Buy earnings with Bloomberg Intelligence Analysts Jenn Bartashus and Lindsay Dutch
And as we we kick off the unofficial start of summer, we will tell why this could be one of the most expensive Memorial Days on record. We break it all down with Bloomberg's Julia Fanzeres and Mark Niquette
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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 U.S PCE and personal spending data, along with a focus on three stocks for the week ahead.
In the UK – a look ahead to the Reykjavík Economic Conference in Iceland.
In Asia – a look ahead to Australia CPI data.
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Business and finance news from the Asia-Pacific.
Asian stocks and US equity-index futures advanced on optimism that the US-Iran talks could lead to a peace deal. However, concerns over a prolonged closure of the Strait of Hormuz have unsettled investors, pushing bond yields higher recently amid fears high oil prices will fuel inflation and force central banks to keep interest rates elevated. Even so, traders have largely brushed aside those risks since the war began in late February, propelling stocks to record highs on renewed enthusiasm for the artificial intelligence trade. We speak to Paul Dobson, Bloomberg's Executive Editor for Asia Markets.
And we go to Shanghai, where the JPMorgan Global China Summit is underway. Bloomberg's Haslinda Amin spoke to Benjamin Vuchot, The Hongkong and Shanghai Hotels CEO about his company's business outlook.
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Business and finance news from the Asia-Pacific.

Nvidia Corp. aims to rely less on giant data center operators and predicts other businesses and governments will become a bigger source of revenue for its chips and computing products to support artificial intelligence ambitions. The company faces growing competition from chipmakers trying to carve out a piece of the AI computing business, and major buyers of Nvidia's technology are developing their own in-house components. In other news, SpaceX filed publicly for what stands to be the largest-ever initial public offering, revealing billions in losses and the super-voting share plan allowing Elon Musk to keep the company under his control. The rocket, satellite and artificial intelligence giant is giving the billionaire the power to outvote anyone else, and promising him outsize rewards, including as many as 1 billion shares, if he can pull it off, according to a filing Wednesday with the US Securities and Exchange Commission. To break it all down, we spoke to Daniel Newman, CEO of the Futurum Group.
Plus - In a last-minute reversal, Samsung Electronics Co. reached a tentative deal with its labor union, averting a potentially crippling strike that had been scheduled to start Thursday at the world's largest memory chipmaker. The South Korean company said in a statement late Wednesday that "labor and management have reached a tentative agreement on wages and the collective bargaining agreement." The company's union also confirmed suspension of plans for a strike that had been planned for May 21 to June 7. Samsung's stock rose about 5% in pre-market trading on Nextrade. Bloomberg TV hosts Haidi Stroud-Watts and Shery Ahn spoke to Tom Kang, Director at Counterpoint Research.
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