Latest news with #BloombergTV
Bloomberg
11 hours ago
- Business
- Bloomberg
Trump Sets Two Week Deadline for Iran Strikes
"Bloomberg: The Asia Trade" brings you everything you need to know to get ahead as the trading day begins in Asia. Bloomberg TV is live from Tokyo and Sydney with Shery Ahn and Haidi Stroud-Watts, getting insight and analysis from newsmakers and industry leaders on the biggest stories shaping global markets. (Source: Bloomberg)
Yahoo
a day ago
- Business
- Yahoo
Stocks Slide on Mideast Tension, Fed's Warning: Markets Wrap
(Bloomberg) -- Equities declined as investors saw a growing likelihood of direct US involvement in Israel's conflict with Iran, and Federal Reserve Chair Jerome Powell warned of meaningful inflation ahead. Security Concerns Hit Some of the World's 'Most Livable Cities' JFK AirTrain Cuts Fares 50% This Summer to Lure Riders Off Roads Taser-Maker Axon Triggers a NIMBY Backlash in its Hometown How E-Scooters Conquered (Most of) Europe NYC Congestion Toll Cuts Manhattan Gridlock by 25%, RPA Reports Listen to the Stock Movers podcast on Apple, Spotify or anywhere you listen. Europe's Stoxx 600 index retreated 0.6%, putting the gauge on track for a third day of losses. A benchmark for Asian shares dropped more than 1%. US equities futures also fell, while the dollar strengthened against most major currencies. Cash trading in US stocks and Treasuries is closed for the Juneteenth holiday. Sentiment turned more cautious after Bloomberg reported that senior US officials are preparing for a possible strike on Iran in the coming days. Markets were already on edge after the Fed downgraded its estimates for growth this year and projected higher inflation, underscoring how tariff-driven uncertainties are complicating a bid to ease policy. 'We're cautious at the moment, we're focusing on asset classes that are less correlated to rates, less correlated to what the US president is doing,' Gareth Nicholson, Nomura's head of discretionary portfolio management, said on Bloomberg TV. 'But there's not many that are out there that are uncorrelated. So it's an environment that I think, be more cautious makes sense.' Trump has for days publicly mused about calling for a strike on Iran, which has been engaged in a war with Israel for nearly a week. He told reporters at the White House Wednesday that he prefers to make the 'final decision one second before it's due' because the situation in the Middle East is fluid. The odds for the US to become involved are 'quite high at this moment in time,' said Anna Rosenberg, head of geopolitics at Amundi Investment Institute. 'For the US, this is a moment to take out a big geopolitical headache, which is Iran potentially developing a nuclear weapon,' Rosenberg told Bloomberg TV. 'Having said that, acting comes with a lot of consequences too. Trump will have to make a really difficult decision.' In the first among a number of monetary policy decisions in Europe, the Swiss National Bank cut its interest rate to zero. Policymakers are seeking to deter investors from pushing up the franc, which has gained almost 10% against the dollar so far this year. Later on Thursday, the Bank of England is likely to keep rates at 4.25% and signal it is sticking with its one-cut-every-other-meeting approach as officials try to strike a balance between elevated inflation, higher oil prices and a slowing economy. In commodities, oil prices swung as the market focused on the hostilities in the Middle East. Brent was above $77 a barrel after closing marginally higher on Wednesday, and West Texas Intermediate traded near $76. 'Direct US involvement in an attack on Iran would almost certainly trigger a major spike in oil prices,' said Manish Bhargava, chief executive officer at Singapore-based Straits Investment. 'This surge would aggravate global inflation, making central bank efforts — like the Fed's — to control it more difficult and potentially delaying interest rate cuts.' Japanese bond yields fell across the curve after a strong auction result, and a report that the finance ministry is considering trimming its issuance of super-long bonds starting in July. On Wednesday, the Fed voted unanimously to hold its benchmark rate. Powell noted that increases in tariffs are likely to boost prices and added that the effects on inflation could be more persistent. While the median expectation for two rate cuts in 2025 didn't change, a number of officials lowered their projections. 'Powell played it safe,' said Haris Khurshid, chief investment officer at Karobaar Capital in Chicago. 'They're sticking to two cuts for now, but clearly rattled by tariffs. No urgency to move. It's a tough spot: growth slowing, inflation lingering, and geopolitical risk heating up.' Some of the main moves in markets: Stocks The Stoxx Europe 600 fell 0.7% as of 8:47 a.m. London time S&P 500 futures fell 0.5% Nasdaq 100 futures fell 0.6% Futures on the Dow Jones Industrial Average fell 0.4% The MSCI Asia Pacific Index fell 1.3% The MSCI Emerging Markets Index fell 1.4% Currencies The Bloomberg Dollar Spot Index rose 0.1% The euro fell 0.1% to $1.1468 The Japanese yen fell 0.2% to 145.35 per dollar The offshore yuan was little changed at 7.1936 per dollar The British pound was little changed at $1.3412 Cryptocurrencies Bitcoin was little changed at $104,757.98 Ether fell 0.2% to $2,523.48 Bonds The yield on 10-year Treasuries was little changed at 4.39% Germany's 10-year yield advanced four basis points to 2.53% Britain's 10-year yield advanced four basis points to 4.54% Commodities Brent crude rose 0.9% to $77.40 a barrel Spot gold fell 0.1% to $3,365.44 an ounce This story was produced with the assistance of Bloomberg Automation. --With assistance from Abhishek Vishnoi, Ruth Carson and Andre Janse van Vuuren. Ken Griffin on Trump, Harvard and Why Novice Investors Won't Beat the Pros Is Mark Cuban the Loudmouth Billionaire that Democrats Need for 2028? The US Has More Copper Than China But No Way to Refine All of It How a Tiny Middleman Could Access Two-Factor Login Codes From Tech Giants Can 'MAMUWT' Be to Musk What 'TACO' Is to Trump? ©2025 Bloomberg L.P.
Yahoo
a day ago
- Business
- Yahoo
Stocks Slide on Mideast Tension, Fed's Warning: Markets Wrap
(Bloomberg) -- Equities declined as investors saw a growing likelihood of direct US involvement in Israel's conflict with Iran, and Federal Reserve Chair Jerome Powell warned of meaningful inflation ahead. Security Concerns Hit Some of the World's 'Most Livable Cities' JFK AirTrain Cuts Fares 50% This Summer to Lure Riders Off Roads Taser-Maker Axon Triggers a NIMBY Backlash in its Hometown How E-Scooters Conquered (Most of) Europe NYC Congestion Toll Cuts Manhattan Gridlock by 25%, RPA Reports Listen to the Stock Movers podcast on Apple, Spotify or anywhere you listen. Europe's Stoxx 600 index retreated 0.6%, putting the gauge on track for a third day of losses. A benchmark for Asian shares dropped more than 1%. US equities futures also fell, while the dollar strengthened against most major currencies. Cash trading in US stocks and Treasuries is closed for the Juneteenth holiday. Sentiment turned more cautious after Bloomberg reported that senior US officials are preparing for a possible strike on Iran in the coming days. Markets were already on edge after the Fed downgraded its estimates for growth this year and projected higher inflation, underscoring how tariff-driven uncertainties are complicating a bid to ease policy. 'We're cautious at the moment, we're focusing on asset classes that are less correlated to rates, less correlated to what the US president is doing,' Gareth Nicholson, Nomura's head of discretionary portfolio management, said on Bloomberg TV. 'But there's not many that are out there that are uncorrelated. So it's an environment that I think, be more cautious makes sense.' Trump has for days publicly mused about calling for a strike on Iran, which has been engaged in a war with Israel for nearly a week. He told reporters at the White House Wednesday that he prefers to make the 'final decision one second before it's due' because the situation in the Middle East is fluid. The odds for the US to become involved are 'quite high at this moment in time,' said Anna Rosenberg, head of geopolitics at Amundi Investment Institute. 'For the US, this is a moment to take out a big geopolitical headache, which is Iran potentially developing a nuclear weapon,' Rosenberg told Bloomberg TV. 'Having said that, acting comes with a lot of consequences too. Trump will have to make a really difficult decision.' In the first among a number of monetary policy decisions in Europe, the Swiss National Bank cut its interest rate to zero. Policymakers are seeking to deter investors from pushing up the franc, which has gained almost 10% against the dollar so far this year. Later on Thursday, the Bank of England is likely to keep rates at 4.25% and signal it is sticking with its one-cut-every-other-meeting approach as officials try to strike a balance between elevated inflation, higher oil prices and a slowing economy. In commodities, oil prices swung as the market focused on the hostilities in the Middle East. Brent was above $77 a barrel after closing marginally higher on Wednesday, and West Texas Intermediate traded near $76. 'Direct US involvement in an attack on Iran would almost certainly trigger a major spike in oil prices,' said Manish Bhargava, chief executive officer at Singapore-based Straits Investment. 'This surge would aggravate global inflation, making central bank efforts — like the Fed's — to control it more difficult and potentially delaying interest rate cuts.' Japanese bond yields fell across the curve after a strong auction result, and a report that the finance ministry is considering trimming its issuance of super-long bonds starting in July. On Wednesday, the Fed voted unanimously to hold its benchmark rate. Powell noted that increases in tariffs are likely to boost prices and added that the effects on inflation could be more persistent. While the median expectation for two rate cuts in 2025 didn't change, a number of officials lowered their projections. 'Powell played it safe,' said Haris Khurshid, chief investment officer at Karobaar Capital in Chicago. 'They're sticking to two cuts for now, but clearly rattled by tariffs. No urgency to move. It's a tough spot: growth slowing, inflation lingering, and geopolitical risk heating up.' Some of the main moves in markets: Stocks The Stoxx Europe 600 fell 0.7% as of 8:47 a.m. London time S&P 500 futures fell 0.5% Nasdaq 100 futures fell 0.6% Futures on the Dow Jones Industrial Average fell 0.4% The MSCI Asia Pacific Index fell 1.3% The MSCI Emerging Markets Index fell 1.4% Currencies The Bloomberg Dollar Spot Index rose 0.1% The euro fell 0.1% to $1.1468 The Japanese yen fell 0.2% to 145.35 per dollar The offshore yuan was little changed at 7.1936 per dollar The British pound was little changed at $1.3412 Cryptocurrencies Bitcoin was little changed at $104,757.98 Ether fell 0.2% to $2,523.48 Bonds The yield on 10-year Treasuries was little changed at 4.39% Germany's 10-year yield advanced four basis points to 2.53% Britain's 10-year yield advanced four basis points to 4.54% Commodities Brent crude rose 0.9% to $77.40 a barrel Spot gold fell 0.1% to $3,365.44 an ounce This story was produced with the assistance of Bloomberg Automation. --With assistance from Abhishek Vishnoi, Ruth Carson and Andre Janse van Vuuren. Ken Griffin on Trump, Harvard and Why Novice Investors Won't Beat the Pros Is Mark Cuban the Loudmouth Billionaire that Democrats Need for 2028? The US Has More Copper Than China But No Way to Refine All of It How a Tiny Middleman Could Access Two-Factor Login Codes From Tech Giants Can 'MAMUWT' Be to Musk What 'TACO' Is to Trump? ©2025 Bloomberg L.P.
Bloomberg
2 days ago
- Business
- Bloomberg
TikTok Ban Extension Likely the Last: McCourt
Live on Bloomberg TV CC-Transcript 00:00Frank. This is a never ending story, is it not? Well, it just does seem that it's it's taking a long time to get a deal made here. You know, you had the 270 days and then the the 275 day extensions and now another 90 days. So, yeah, it's it's been a while. But, you know, I've learned to be very patient, to hang around the group. A lot of good things get done when that happens. And, you know, my sense is and this is not a you know, this is purely purely my opinion, but I think this is the last extension. I think 90 days, not 75 days, is significant. And I think something gets done within the next 90 days or not. But does it involve you? Have you been on the phone with the vice president? Have you been involved in the negotiations? We are. You know, we were very much involved during the the first extension and less so during the second. Things have been relatively quiet, as a matter of fact. So I don't know if I should draw any inferences there, but it's been it's been fairly quiet overall. Look, I still love our chances, Caroline, because, look, the legislation is very, very clear on what it mandated. Our our bid, as far as I know, is the only bid that actually qualifies that actually meets the criteria in that legislation where we completely disentangle from the Chinese technology. So said Frank, I want to get really detailed on this because on the other side of the table in this bidding process, there is a coalition of different individuals and technology companies whose proposal, as I understand it, is outside what's legislated for. In other words, some element of co-location of data and licensing. The algorithm, which you just explain how your bid is distinct from that. Yeah, well, and I think you've hit the nail on the head in what we are, We're not looking to help co-host the data or to use the Chinese algorithm where we are. You know, Project Liberty is about empowering individuals, not exploiting them. So we're not interested in scraping people's data, surveilling, surveilling them. Right. Spying on them, scraping their data, aggregating it, and then micro profiling people and then using a black box algorithm to manipulate them. That's not what we're interested in. And that's why tech talk is so attractive to us, because we can not only solve the national security issue, but we can move the user base and the data onto this new clean made in America stack, which doesn't rely on Chinese technology, doesn't surveil on people, and as a matter of fact, empowers people to permission the use of their data and get paid for it. This is going to be the new Internet. It's going to happen sooner or later. How many more days can go by where we're going to read about another horror story that is occurring with the current Internet technology, which is highly exploitive and highly predatory. The current model is not sustainable, in my opinion. It's going to change. We believe the sooner it changes, the better. Frank As the extensions keep coming and the process continues, does the price for tick tock go up or down or stay the same? Well, from our perspective, it stays the same because what we what we were buying. Assuming the user base stays the same and there's no change in the numbers as far as the value to others, I can't I really can't comment on that and I'd only be speculating. But, you know, our our our view is we can put a really clear value on tick tock, a us tick tock with the current user base, with the data, with the brand, without the algorithm. Frank, we asked you and we thank you for being so transparent about your conversations with the administration. What about with China? What about with Bytedance? Because we understand much of the elongation of the process is they don't want to let go of the algorithm and they want to keep it intact. Caroline I think that's a really important question you're asking. I don't think any of us know what China's ultimately going to do here, and I think it's a big if in this whole transaction. It's I think one thing we do know is they're not going to let us go with the algorithm or with the IP. So any chance of a deal, in my opinion, would be a deal that disentangled from their technology and, and, you know, deal with disentangled from their technology. I mean, why not make the deal then? Because the the if there's not going to be a deal and the only option you shut down, why not sell the pieces in parts for a lot of money and and achieve their objective, which is no sharing of their technology. So I think that we just don't know if they're even going to let us chip to go without the algorithm. We're betting they will. And that's been our bet from day one. But we'll see. And what about the mood music of the userbase? When this all first came to light under the Biden administration, there was fierce opposition from many of those users. But actually the US public at large actually wanted to get rid of TikTok. But now it feels as though we've moved the other way. Where is general public consensus on whether we want to kick out TikTok or not? You know, I think it shifts and moves. I think right now what's happened is that because, you know, this is the third extension, people are a bit anesthetized and you're not sure what's going to happen. And so are are kind of not as it's it's not as front and center on the minds of the user base as it was when it was threatened to be shut down with with the legislation. By the way, I believe us Tik Tok is going to be sold. The shutdown, the legislation is is very clear and something's going to give here. And I you know, again, I said earlier and I have no, I please, I have no no proof of this, but I, I just have a gut feel. This is the last extension. Something's going to happen during this 90 days. So, Frank. Sorry to interrupt you. So you've also you basically opened the door to a third path, which we we discussed less, which is that the president could indeed decide, you know what I don't want to go with. I've a better and I will shut down us tick tock or tick tock in the US. Just just explain, you know how you you've been transparent contact with the administration has been limited in this period. But but that seems a possibility. Yeah, I think it is a third possibility. And this is again, I've said from the beginning, I think when push comes to shove or or when they see that this, this process has come to a conclusion. Tick tock will be solved without the algorithm. But you're quite right. And it may be shut down on the US side and and or China may just not allow it to be sold. These are all distinct possibilities. So there is there is uncertainty here. But look. Project Liberty is continuing to build the technology on board users and and create this alternative Internet, which we think is a we need now. The bottom line is we have an Internet that's broken, but nobody's not going to use it until there's an alternative. So our goal is to build that alternative and then and then actually migrate users and build and by the way, built new apps in this new world to integrate user base there. So who would not? And if given the choice of an Internet, that's surveillance you've scraped your data and and it basically exploits you versus an Internet where you're positioning the use of your data, you get paid for your data if it's a commercial use case that it's used for and you're in charge of you again, you're at the center. What? Right now we have an Internet where the platforms are at the center. We're all just commodities. We need an Internet where we're at the center, we have agency. Again, we're in charge, and we're respected, quite frankly.
The Herald Scotland
2 days ago
- Business
- The Herald Scotland
US stock futures lower amid Israel-Iran conflict
Separately, a U.S. official said Trump would not sign a draft statement calling for de-escalation of the Israel-Iran conflict. Meanwhile, Israel is determined to continue its assault on Iran despite reports saying Iran wants to reopen nuclear talks. "We're going to go about our operation to remove these two threats," Israeli Strategic Affairs Minister Ron Dermer, referring to Iran's missile and nuclear programs, in a Bloomberg TV interview. "Whether Iran will decide to meet with the United States and agree to terms that they should have taken a month ago, or two weeks ago, or two months ago, you know, that's up to Iran to decide." At 6:15 a.m. ET, futures based on the blue-chip Dow fell-0.58%, while broad S&P 500 futures dropped -0.54% and tech-laden Nasdaq slipped -0.56%. Oil prices rose. May's retail sales data are due before the market opens. Economists surveyed by FactSet forecast a decline of 0.7% in total sales in May from April after a gain of just 0.1% in the prior month. However, the main event this week will be the Federal Reserve's rate policy decision due midweek. Almost everyone expects central bank policymakers to hold rates at their current target range of 4.25% to 4.50%, according to the CME FedWatch tool. Along with the Fed's policy announcement, central bankers will release their forecasts for economic growth, unemployment and inflation. Most economists expect the Fed's projections to show higher inflation in the second part of the year, a fairly low unemployment rate and slower economic growth. Cryptocurrency JPMorgan Chase, the country's biggest bank, has applied for a trademark related to digital currency with the United States Patent and Trademark Office (USPTO), leading to speculation the application for "JPMD" means the bank is preparing to launch its own stablecoin. Stablecoins are digital assets designed to maintain a value in line with the U.S. dollar. TJPMorgan Chase filed the application on June 15, according to the USPTO's website. The application listed "JPMD" as a good or service that would provide "trading, exchange, transfer and payment services for digital assets," among other categories related to cryptocurrencies and blockchain technology. Medora Lee is a money, markets, and personal finance reporter at USA TODAY. You can reach her at mjlee@ and subscribe to our free Daily Money newsletter for personal finance tips and business news every Monday through Friday.
