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On today's podcast:
1) Nvidia slides after it warns Trump's curbs on China chips will cost it billions. The US government has restricted Nvidia from selling its H20 chip in China, escalating the tech battle between Washington and Beijing. Restrictions and trade war concerns are expected to negatively impact chip-sector earnings and China's ambitions to compete on the global tech stage.
2) China says it is open to trade talks if President Trump's Administration shows more respect. China wants the US to show more respect by reining in disparaging remarks by members of Trump's cabinet before agreeing to trade talks. Beijing also wants a more consistent US position and a willingness to address China's concerns around American sanctions and Taiwan.
3) Investors await a key speech by Fed Chair Jay Powell. Powell is making a speech in Chicago as traders look for hints on how the Fed will manage rates as President Trump aims to implement his tariff policy, and they're also following retail sales data today.
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On today's podcast:
1) China orders a halt to Boeing jet deliveries in another salvo of the US-China trade war. China ordered its airlines to stop taking deliveries of Boeing jets and to halt purchases of aircraft-related equipment and parts from US companies. The standoff is a setback for Boeing, which relies heavily on the Chinese market, and could impact the company's sales and supply chains.
2) US Treasury Secretary Scott Bessent downplays the recent bond market selloff in an exclusive discussion with Bloomberg. He says the Treasury has a lot of tools it could use should it need to step in, but says there's no signs it needs to right now.
3) Harvard fights back against President Trump's $9 billion funding fight. University President Alan Garber rejected the Trump administration's demands to combat antisemitism, citing threats to academic freedom and interference in higher education. In response, a government task force plans to freeze $2.2 billion of multiyear grants to Harvard, which could impact the university's research, medicine, and public health programs.
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On today's podcast:
1) President Trump warns his pause on import duties on phones, computers and popular consumer electronics are just temporary. The president has exempted certain electronics from tariffs, but says it's a temporary measure and that a different tariff will be applied to the sector soon. Trump plans to announce a tariff rate for semiconductors in the coming week and is open to discussing the scope of the tariff with companies.
2) Bank Earnings continue with Goldman Sachs reporting this morning. Despite the strong trading revenue, investors are concerned about the impact of tariffs and recession fears on all of the big banks' performance, and executives are expected to continue to strike a cautious tone.
3) Jeff Bezos' Blue Origin is launching an all-women crew on its New Shepard rocket, including Katy Perry, Bezos' fiancée Lauren Sánchez, and other notable women, on a roughly 11-minute trip to the edge of space. This launch is Blue Origin's 11th human spaceflight, following recent successes and challenges, including a workforce
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Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.
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On today's podcast:
1) China will raise tariffs on all US goods from 84% to 125% starting April 12 and will ignore any further US tariff increases. It comes as President Trump’s dramatic U-turn on tariff threats has isolated China as the primary target of his trade offensive, significantly narrowing Beijing’s options for immediate de-escalation. Areas of US-China trade that could be next in line for Chinese retaliation include education, travel, financial services, computing services, and films and entertainment.
2) Billionaire Ray Dalio tells Bloomberg the tariff turmoil has damaged the US reputation for reliability, but that's not one of his primary concerns about the US economy and outlook for a recession. While the Bridgewater founder considers a US recession likely, geopolitical tensions and potential for diplomatic breakdowns are a global threat in Dalio's eyes.
3) New York City officials investigate a deadly helicopter crash in the Hudson River. The sightseeing helicopter crashed into the Hudson River, killing all six people on board, including three children from Spain and the pilot. The crash is the latest in a string of incidents that has rattled confidence in US aviation safety, following a deadly midair collision last year and other helicopter crashes around New York City.
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On today's podcast:
1) President Donald Trump’s dramatic U-turn on tariff threats has isolated China as the primary target of his trade offensive, significantly narrowing Beijing’s options for immediate de-escalation.
2) European stocks opened sharply higher, tracking Wall Street’s late-Wednesday rally, after President Donald Trump paused most of his sweeping tariff hikes. US equity futures fell, however, suggesting the euphoria is already dissipating.
3) Five gut-wrenching days after Donald Trump’s America-versus-the-world trade war threw stock and bond markets around the world into disarray, he backpedaled and, in the process, pulled the financial system back from the brink.
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On today's podcast:
1) President Donald Trump’s so-called reciprocal tariffs are now in place, dealing a thunderous blow to the world economy as he pushes forward efforts to drastically reorder global trade.
2) China hasn’t immediately responded to the new US tariffs, a departure from the last two episodes when President Donald Trump hiked duties and Beijing hit back within minutes.
3) A vicious sell-off in what are supposed to be the world’s safest assets has investors grasping for reasons behind the steep declines in Treasuries which accelerated Wednesday.
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On today's podcast:
1) Stocks staged a modest recovery as investors looked for dip-buying opportunities while awaiting clarity on how President Donald Trump’s trade policies will play out.
2) China pledged to retaliate against Donald Trump’s latest tariff threat and stepped up efforts to support the market, raising the risk of a prolonged trade war between the world’s two largest economies.
3) Billionaire Ken Griffin said President Donald Trump’s latest tariffs amount to a hefty tax on families and are a “huge policy mistake” by the administration.
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On today's podcast:
1) The carnage in financial markets unleashed by President Donald Trump’s tariffs is continuing unabated as equities get pummeled and US stock futures show that last week’s $5 trillion wipeout isn’t over.
2) President Donald Trump and his economic team dismissed investors’ fears of inflation and recession, offering no apologies for the market turmoil sparked by sweeping global tariffs and defiantly insisting a boom is on the horizon.
3) Traders expect the Federal Reserve to slash interest rates another five times this year as the US administration’s trade tariffs ignite fears of a global recession.
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Bloomberg Daybreak Weekend with Tom Busby takes a look at some of the stories we'll be tracking in the coming week.
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