A selloff in chipmakers extended for another day, putting pressure on equity markets as traders also prepared for Wall Street banks to kick off the US earnings season in earnest.
Big US banking stocks, meanwhile, are firmly in correction territory as Citigroup, Goldman Sachs, JPMorgan and Wells Fargo prepare to report before the open. The KBW Bank Index has dropped around 12% from a mid-August peak, exceeding the 10% threshold for a technical correction.
The Opening Trade has everything you need to know as markets open across Europe. With analysis you won’t find anywhere else, we break down the biggest stories of the day and speak to top guests who have skin in the game. Hosted by Anna Edwards, Guy Johnson and Tom Mackenzie.
Chapters:
00:00:00 – Bloomberg’s The Opening Trade Begins
00:00:04 – Markets Wake Up to Tech, Oil & Geopolitical Risks
00:01:27 – The Agenda: Broadcom CEO’s AI "Casino" Warning Hits Chip Stocks, Oil Prices, Saudi Attacks & Middle East Tensions, LVMH Results
00:09:25 – What to Watch: OPEC, US Bank Earnings & Apple
00:14:43 – Semiconductor Selloff & AI Investment Concerns, Can China Catch Up in the AI Race, Meta’s New AI Model & Competitive Threat
00:19:00 – Oil Prices & Growing Saudi-Houthi Conflict, Tankers Turn Away From the Persian Gulf
00:25:12 – Trump, Zelenskyy & the Russia-Ukraine War, Fmr. US Special Envoy to Ukraine Keith Kellogg on the Path to Ending the War
00:31:12 – Need to Know
00:35:38 – Prime Minister of India Narendra Modi on India’s Growth & Technology Transformation
00:36:38 – Blackstone President & COO Jonathan Gray on Investing in India, Blackstone’s AI Infrastructure Strategy
00:47:14 – European Markets Open, ASML & European Tech Stocks Slide
00:50:25 – William Hobbs Brooks Macdonald CIO on Can Europe Be a Haven From the AI Trade, Stocks, Bonds & Portfolio Rotation, Are AI Investors Gambling
01:00:20 – LVMH, Luxury Stocks & European Movers
01:03:57 – European Chip Stocks Extend Selloff
01:06:42 – LVMH’s China Sales & Consumer Backlash
01:11:17 – European Stocks Defy Global Tech Weakness
01:13:25 – Need to Know
01:14:46 – Anna Titareva, UBS Investment Bank Pan European Economist, on UK Growth, Wages & Bank of England Outlook, France’s Budget & Political Uncertainty
01:21:21 – Anna Titareva, UBS Investment Bank Pan European Economist, on Higher Yields & Central Bank Policy, How Higher Oil Prices Hit Inflation & Growth
01:24:17 – What to Watch Today
01:25:10 – US Bank Earnings Preview, Is US Consumer Credit Stress Emerging
01:30:01 – Can Broadcom’s Warning Crack the AI Rally, Are Bonds Becoming a Safe Haven Bank of England Rate Hike Outlook
01:33:35 – Bloomberg New Economy Forum & Fed Outlook
——–
More on Bloomberg Television and Markets
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