Daybreak Weekend: Nvidia Earnings, Medef Conference, BOK Decision
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 personal spending data and earnings from Nvidia. In the UK – a look at the upcoming Medef Conference. In Asia – a look at the next Bank of Korea decision and the HK IPO market. See omnystudio.com/listener for privacy information.
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38:45
Global Inflation in Focus Ahead of Jackson Hole; Chicago Fed's Austan Goolsbee
Asian equities traded within a narrow range after US stocks and bonds fell as traders pared back wagers on imminent Federal Reserve interest-rate cuts. Shares in Japan and Australia declined while South Korea advanced. Treasuries were little changed after falling across the curve in the US session, sending yields higher. The yen steadied after Japan's July core inflation came in at 3.1%, against an estimate for 3%. We look at the global inflation picture with Ian Samson, Multi Asset Portfolio Manager at Fidelity International.Meantime, stronger US economic data and a more hawkish tone from Fed officials have led money markets to price a 70% chance of a September rate cut, down from 90% a week ago. While data showed an increase in jobless claims — adding to signs of a slowing labor market — the solid factory purchasing managers index made traders trim their rate cut bets. A gauge of manufacturing grew at the fastest pace since 2022. Attention now turns to the central bank's annual Jackson Hole symposium, where Chair Jerome Powell is scheduled to speak Friday at 10 a.m. New York time. We hear from Austan Goolsbee, President of the Federal Reserve Bank of Chicago. He speaks with Bloomberg's Michael McKee and Michael Shepard from Jackson Hole, Wyoming.See omnystudio.com/listener for privacy information.
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Stocks Stall on Fed Caution; HKEX CEO Bonnie Chan
Asian markets looked set for a cautious open Thursday, as US stocks pulled back and bond prices climbed ahead of a key Fed gathering in Jackson Hole. The Nasdaq and S&P 500 slipped, while Treasuries rallied on tempered inflation concerns. Meanwhile, Chinese shares listed in the US bucked the trend with gains. All eyes now turn to Fed Chair Jerome Powell's upcoming remarks for clues on the September rate path. For more on the markets, we check in with Tim Pagliara, Chairman and Chief Investment Officer at CapWealth.Plus - Hong Kong Exchanges and Clearing CEO Bonnie Chan is upbeat that the return of international investors will help sustain momentum amid a boom in listings and trading. Hong Kong's stock market has boomed this year, with its benchmark index surging and share sales posting a strong recovery as Chinese firms flock to raise capital. That in turn has boosted trading volumes, one of the main drivers of earnings for the exchange. We bring you part of Chan's conversation with Bloomberg's Yvonne Man.See omnystudio.com/listener for privacy information.
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Tech-Led Selloff Hits Asia as Fed Watch Intensifies
Asian markets stumbled midweek as a selloff in heavyweight U.S. tech stocks spilled across global equities. Most major indexes in the region dipped, with Taiwan Semiconductor and SoftBank among the hardest hit. The MSCI Asia Pacific index fell 0.5%, and Nasdaq futures slid after their second-worst loss since April's tariff shock. Treasuries held steady, the dollar climbed for a third straight day, and oil edged higher following a volatile prior session. We examine the broader market landscape with Ritesh Ganeriwal, Head of Investment & Advisory at Syfe.Meanwhile, attention is turning to Jackson Hole, where Fed Chair Jerome Powell will speak Friday. Traders are nearly certain a September rate cut is coming, but Powell's tone could shape the longer-term policy outlook. With July CPI showing tame goods inflation but sticky services prices, investors are looking for guidance on how aggressively the Fed may ease into 2026. We look at the prospective path of rate policy with Gene Goldman, Chief Investment Officer at Cetera Financial Group.See omnystudio.com/listener for privacy information.
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Russia-Ukraine Talks, Fed Outlook in Focus
US President Donald Trump called Vladimir Putin and urged the Russian leader to begin making plans for a summit with Volodymyr Zelenskiy, after meeting the Ukrainian president and European leaders at the White House on Monday. The proposal — which Trump pitched as a one-on-one summit between Ukraine and Russia's leaders that would be followed by a trilateral gathering involving all three — represented the latest turn in the US president's push to broker an end to a conflict that has lasted over three years. We get the latest from Michelle Jamrisko, Bloomberg News White House Editor in Washington.Oil markets were in focus following Trump and Zelenskiy's meeting in Washington, as traders weighed the potential implications for regional stability and energy flows. Crude oil held steady after Monday's gain. Meantime, Asian stocks may struggle for direction at the open after the S&P 500 closed little changed. We get market perspective from Mark Matthews, Head of Asia Research at Julius Baer. He speaks with Bloomberg's Shery Ahn and Avril Hong on The Asia Trade.Plus - a big week is coming up as the Federal Reserve's annual Economic Policy Symposium kicks off Thursday in Jackson Hole, Wyoming. The event in the Grand Teton mountains has been used by Fed chairs as a venue for making crucial policy announcements. Jerome Powell is expected on Friday to unveil the Fed's new policy framework — the strategy it'll use to achieve its inflation and employment goals. He may also drop some hints about the Fed's thinking ahead of its September policy meeting. We look at the potential impact of Powell's remarks later this week with Michele Martin, President at Prosperity, the wealth management arm of EisnerAmper.See omnystudio.com/listener for privacy information.
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