Bloomberg Daybreak: US Edition

1) President Trump's tariffs take effect at their highest levels since World War 2. President Trump’s actions will push the average US tariff rate to 15.2%, according to Bloomberg Economics estimates, with some countries facing duties as high as 50%. The president has pledged that the tariffs will slash trade deficits and push companies to move manufacturing back to the US, but his critics s...

On today's podcast: 1) President Donald Trump said he’d impose increased tariffs on countries buying energy from Russia while clarifying that levies on semiconductor and pharmaceutical imports would be announced “within the next week or so.” 2) President Donald Trump said he would make his decision on a replacement for outgoing Federal Reserve Governor Adriana Kugler this week as...

On today's podcast:     1) President Donald Trump said he would be “substantially raising” the tariff on Indian exports to the US over the Asian nation’s purchases of Russian oil, a move New Delhi slammed as unjustified in an escalating fight between the two major economies. 2) Texas Governor Greg Abbott ordered the arrest of Democratic lawmakers who left the state to b...

On today's podcast:     1) President Donald Trump said he will announce a new Federal Reserve governor and a new jobs data statistician in the coming days, two appointments that may shape his economic agenda amid anxiety over the trajectory of global growth.  2) Workers at Boeing Co.’s St. Louis-area defense factories are striking for the first time in almost three decades aft...

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 earnings from Walt Disney and Uber. In the UK – a look ahead to earnings from BP. In Asia – a look at ahead to how US smartphone production will be impacted by Apple’s shift towards India, along with an outlook for China property. Se...

On today's podcast: 1) Markets take a hit as President Trump unleashes a wave of new tariff rates. The world is facing some of the steepest US tariffs since the 1930s, with an average of 15%, according to the text. So far, the global economy has held up better than many economists expected after Trump’s initial tariff blitz. A rush to beat the elevated rates spurred a front-loading of export...

On today's podcast:  1) Tech stocks surge after blowout quarters by Microsoft and Meta, and more Mag 7 earnings on tap as Apple and Amazon report today. Microsoft shares gained more than 8% in after-hours trading while Meta jumped more than 11% after both pledged to spend lavishly on artificial intelligence. Stocks rose in early trading as upbeat earnings helped drive optimism over resilient...

On today's podcast: 1) President Donald Trump is set to make the final call on maintaining a tariff truce with China before it expires in two weeks, an extension that would mark a con 2) Stocks struggled in the hours before Wednesday’s Federal Reserve interest-rate decision as traders tackled a heavy load of major company earnings. 3) Four-foot (1.2-meter) tsunami waves were recorded in Hawa...

On today's podcast: 1) Work was winding down at 345 Park Avenue on Monday when a man strode across the public plaza just outside the Midtown Manhattan tower with an assault rifle in his hand. Within minutes, at least four people were dead, as well as the gunman, in a mass shooting in the epicenter of American finance. The harrowing scene unfolded in the 44-story, dark-glass tower that houses the o...

On today's podcast: 1) The US and European Union agreed on a hard-fought deal that will see the bloc face 15% tariffs on most of its exports, including automobiles, staving off a trade war that could have delivered a hammer blow to the global economy. 2) US and Chinese officials are meeting Monday to extend their tariff detente beyond a mid-August deadline, and haggle over other ways to further de...

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 conver...

On today's podcast: 1) Federal Reserve Chair Jerome Powell is smack in the middle of one of President Donald Trump’s preferred attack strategies — flooding the zone. 2) Intel Corp. tumbled in late trading after Chief Executive Officer Lip-Bu Tan sparked concerns that he was more focused on cost cutting than restoring the chipmaker’s technological edge. 3) Paramount Global’s...

1) US President Donald Trump suggested that he would not go below 15% as he sets so-called reciprocal tariff rates ahead of an Aug. 1 deadline, an indication that the floor for the increased levies was rising. 2) Donald Trump will personally visit the Federal Reserve Thursday to tour a construction site he’s criticized for cost overruns amid his escalating attacks on Fed Chair Jerome Powell...

On today's podcast: 1) President Donald Trump reached a trade deal with Japan that will impose 15% tariffs on imports including automobiles from the key American ally, while creating a $550 billion fund to make investments in the US. 2) Microsoft Corp. warned that Chinese state-sponsored hackers are among those exploiting flaws in its SharePoint software to break into institutions globally, with t...

On today's podcast: 1) Treasury Secretary Scott Bessent said in a social media post Monday that there should be a review of the decision to renovate parts of the Federal Reserve headquarters in Washington. 2) A cohort of the world’s largest asset managers is leaning harder into the rally in risk assets as US stocks push to fresh highs, defying persistent trade and geopolitical tensions. 3) J...

On today's podcast: 1) The European Union prepares for the worst as it races to secure a trade deal with the US. European Union and US negotiators are heading into another week of intensive talks to clinch a trade deal by Aug. 1, when US President Trump has threatened to hit most EU exports with 30% tariffs. 2) Microsoft rushes to fix a widespread cyberattack on its server software. Microsoft's se...

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.

On today's podcast: 1) US President Donald Trump authorized the Justice Department to seek the release of grand jury testimony from the prosecution of Jeffrey Epstein, bowing to mounting pressure from his supporters for more transparency about the late, disgraced financier. 2) Federal Reserve Chair Jerome Powell in a Thursday letter countered criticisms leveled at the central bank by a top White H...

While rival media companies are unloading assets and cutting costs, Netflix Inc. continues to thrive. The owner of the world’s most popular paid streaming service on Thursday reported second-quarter results that exceeded investor expectations in every major metric, saying revenue grew to $11.1 billion and earnings jumped to $7.19 a share. The company also raised its forecast for full-year sa...

On today's podcast: 1) President Donald Trump said he’s not planning to fire Jerome Powell, and still managed to make it sound like a threat. 2) Republicans are set to succeed in their decades-long quest to end federal funding for public broadcasting after the Senate passed a $9 billion package of cuts derived from Elon Musk’s Department of Government Efficiency effort. 3) President Do...

On today's podcast: 1) President Donald Trump said he was likely to impose tariffs on pharmaceuticals as soon as the end of the month and that levies on semiconductors could come soon as well, suggesting that those import taxes could hit alongside broad “reciprocal” rates set for implementation on Aug. 1 2) Kevin Hassett, one of President Donald Trump’s longest-serving economic a...

On today's podcast: 1) Nvidia surges to an all-time high on news it will resume Chip sales to China. US government officials told Nvidia they would green-light export licenses for the H20 artificial intelligence accelerator, according to the company. The move is seen as a "massive win" for Nvidia's Chief Executive Officer Jensen Huang, and is also viewed positively by Vey-Sern Ling, managing direc...

On today's podcast: 1) The EU is preparing to step up its engagement with other countries hit by Donald Trump’s tariffs following a slew of new threats to the bloc and other US trading partners, according to people familiar with the matter. 2) President Donald Trump said the US will send more Patriot air-defense batteries to Ukraine, which Kyiv has said it needs to protect itself from Russia...

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...

On today's podcast: 1) President Donald Trump threatened a 35% tariff on some Canadian goods and raised the prospect of increasing levies on most other countries, ramping up his trade rhetoric in comments that weighed on stocks and boosted the US dollar. 2) Stocks rose as traders parsed a batch of corporate outlooks, with the S&P 500 hitting a record and approaching 6,300. 3) President Donald...