>> good morning.

this is "bloomberg daybreak: europe." i am lizzie burton and these are the stories that set your agenda. u.s. economic reports support the case of the fed will pause rate hikes. a bullish revenue outlook. plus, russia says -- was aboard a private jet that has crashed, killing everyone on board. we will give you updates throughout the morning. good morning. welcome to thursday. we have a lot of news to bring you on politics and geopolitics. on the market, after the bell, nvidia results. another blowout which remains the wave that lifts all boats. the sea of across all specs. u.s. futures pointing to an even

higher opening today. s&p fully -- already had its best day since june. disappointment did come from the macro front on both sides of the atlantic. that has expectations for more rate heights -- rate hikes the fed and ecb. ahead of jay powell's speech, we will also bring you christian the guard -- christie the guard. we will join our asian editor fall dobson. -- paul dobson. take us through market reaction. >> we saw very strong performances in after-hours trading, lifting futures for the

whole of the u.s. market as well. taking it over into asia. we have gains for all of the chip suppliers. nvidia commissions a lot from asia. they are having a good day as well. a sea of green. not many negatives to take away from that nvidia earnings. all positives that maybe there would be a supply backdrop. people were worried. it flew by with no problems whatsoever. there is one small seed of doubt. nvidianvidia the buyback that -- the buyback that nvidia is planning on doing. wouldn't it be more prudent to invest? lizzy: maybe nvidia thinks that

is a drop in the ocean compared to what they will do. away from nvidia we have a rush of pmi data from the eurozone and uss "bloomberg surveillance: early edition." -- and u.s. >> i was very surprised to see the market reaction to that. bad news is good news as far as the market is concerned. even before we got the earnings. that is also being taken as a positive. the reason people think this big slowdown will convince central banks that they do not need to go as hard from here in terms of tightening. one thing we saw in europe was people pricing out the possibility of a hike at the next ecb meeting. those are down 40% from above

50% beforehand. very similar in the u.s. as well. if we get more signs of a slowdown, and might make policy members think about how fast and how hard. lizzy: full coverage of the jackson hole symposium for you your on bluebird tv. time for roundtable. what better day to have maria taddeo with us. massive news overnight. the man who launched a failed mutiny against vladimir putin is presumed dead. russia's aviation authority that he was in a plane crash they killed all 10 on board. a warning -- the video is quite graphic. this unverified footage comes from the russian media outlet

tss. he led an aborted mutiny in june against vladimir putin, the biggest threat during his rule. no cause has been given for the crash so far. for details to be have so far? maria: this was a huge story overnight. what we know is that it was a plight -- a private jet. all 10 people on board died. this was going from moscow to st. petersburg. a lot of these business deals were in moscow. this is something he used to do. you look at the numbers and you believe that the fortune he had amassed, traveling private was something known to the public in russia. there are not a lot of details in terms of what went wrong except the fact that everyone on

that plane was dead. the big question is is two months almost to the day. what about vladimir putin and reaction from the kremlin? this was out there in public. it was strange that he seemed to be doing life almost as normal and the two months later he is dead. lizzy: i wonder whether this changes the calculation at all with the war in ukraine. maria: very little will change. we do know vladimir was doing a lot of the heavy fighting for russia. a lot of the criticism was that mercenaries were doing better than the actual russian army. it as it was no longer exists.

you either join the russian army or you leave. a lot of that has been reasserted. the big question are the operations in africa. these to have a big role. a lot of this was covered in mystery. they played a role in africa. what happens in places like africa and who will leave this and what kind of reaction we will get from the russian public. there was very little coverage of the story. lizzy: big questions for the future. thank you so much to maria taddeo. now, u.s. politics. bill joins us. bill, who came out on top? >> you can argue that donald

trump came out on top even though he did not take part in that debate. almost none of the candidates were willing to criticize trump. that is largely because he still has a big grip on a large swath of the republican party. all of those people on stage, they need to win over his supporters eventually. for many of them, this was a battle to stay alive. if they do not see in improvement in their poll numbers before the next debate, they will not see the stage. it was a do or die situation for many of the candidates hoping to go against trump and then ultimately joe biden. lizzy: as you say, donald trump instead gave an interview to cover crossan -- interview to tucker carlsen.

what were the highlights? >> 70 59 people viewed at least part of the interview. that will be may time tire than the number of people who watched -- who will watch the debate. president trump gave us what many of us would see as a flashback. he talked about what he views as failing economic policies. he also had a stream of consciousness presentation where he discussed a lot of things like the dangers of low water pressure and other social issues that may be are not at the top of the agenda for most voters. he still is by far the top polling candidate when you look at the 2024 republican party. lizzy: thanks to bill for those insights. i want to get back to the chip schechter -- chip sector.

nvidia sent futures higher after announcing a bullish outlook fueled by the demand for ai. bloomberg's ed ludlow has been across the story. ed: there is staying power for nvidia's story. plus or -2%, that is above what analysts were expecting. the weight they have described it as they have visibility on ai demand going into the next fiscal year. the cfo called it "tremendous and broad-based ai demand are cut -- demand." these are the server designs based on a-100 that they shipped to -- how can they be so confident that the hyper scalars will continue to invest in this

domain? there are two things happening in parallel. the willingness to invest in accelerated computing and the response we have seen to generative ai and the computing needed to support that. nvidia does expect supply to increase in the next quarter every year. they have really stepped up to meet the demand driven by ai. in china, executives addressed this head on amid reports of the u.s. will boost export -- or technology export rules to china. in the meantime the cfo's of the new restrictions would have no material effect for long-term, the rules would result in a loss of opportunity for nvidia and other u.s. chip names that want to be the leaders and the most

competitive and cutting edge -- in the cutting edge field of ai. lizzy: nasdaq futures are currently up ahead of the open. let's look ahead to it elsewhere watching. 12:00 pm, turkish rate decision. economists expect in a hike from 17.5% to 20%. the question is whether the committee wants to send a message of change from its previous preference for a gradual pace. 1:30 p.m., u.s. initial jobless claims. they are expected to take up slightly which suggests that the american job market is gradually cooling. finally, we will get into earnings. our analyst hearsay the california-based business software company inuit will do

well given that tax and accounting software make up half of their sales. really a bit of a boost that company. you can get around of all the stories you need to know in today's addition of daybreak. today, the lead on nvidia, the -- death and the turkey decision, all on the terminal. coming up, the 2023 class of new economists -- of bloomberg new economists has been announced. we will speak to chris: -- we will speak to hilda moraa, coming up next. also we will speak to christine the guard at jackson hole. that is all coming up. this is bloomberg. ♪

>> our expert team will speak with fed presidents and other economic leaders as they talk about the shifting economy. >> it is not how fast, it is where we go. >> demand for continuing coverage with a special edition live from jackson hole starting at 8:00 a.m. eastern. bloomberg is your global business authority. lizzy: welcome back to "bloomberg daybreak: europe." 6:17 a.m. here in london. i want to catch you up to speed on that nvidia blowout. biggest beneficiary of the ai boom. it is nvidia that one as the few

making serious money. from checkbox to data centers, nvidia is supplying demand. the questioning going into this report was whether the second quarter will be the star of a long-term expansion or a one-time spike. these results are even more bullish. sales growth is fastest in years, overtaking intel for ears. third quarter estimate blowing things out of the water. $60 billion, up from $12.5 billion. nvidia outsources chip production and supply chains -- supply chain constraints don't seem to have hampered sales. they expect to increase each quarter through the next year. this is a historic moment for the tech sector. ceo and cofounder hailing a new era of computing.

traders are ready for risk off the back of these results. nasdaq futures at 1.3%. s&p is up 8/10 of 1%. it is green across the screen in asia. for japan and exchange group ceo has said that the yen has become too weak. he also told us that he is not too worried about its impact on tokyo's rally as he sees other factors boosting stocks. take a listen. >> the strong interest from global and japanese businesses, i would like that to continue. i think the market moves forward in a favorable way.

[indiscernible] some are reallocating their investment from china to other places. also, japanese inflationary pressure is coming. this is not the same type of inflation but -- my becoming. then i think we will see a strong recovery of the japanese market. i think corporate governance -- so far has been good. there is room for improvement. >> what are some of the trends we are seeing? more individual investors? >> i think individual investors

are feeding from the market moving. they will see more attractive investment vehicles and equity market as well as other investment vehicles. i think we are already seeing some gradual shifting and like jp x, shareholders jumped up and more than doubled in the past year from 65,000-135,000. we did not change the buyback. but the numbers more than doubled. i think they will think of where they put their money into. lizzy: that was the japan exchange group ceo speaking exclusively with bloomberg. we will have full coverage of

jackson hole. today is the last day of the -- summit. we will go to jennifer for that. plenty more ahead. ♪this is bloomberg. ♪

lizzy: welcome back to "bloomberg daybreak: europe." china, south africa and -- have been speaking at the summit. both close to adding new members. take a listen. >> we need to fully leverage the role of new development bank. push forward the monetary systems and increase the representation of -- and voice of developing countries. >> we will continue discussion

of practical members through the increased use of local currencies. >> india fully supports the expansion of the membership. we welcome, moving forward on this consensus. lizzy: for our africa summit, jennifer has been with this. she joins us from johannesburg. tell us more. >> you heard from a few of the leaders. really the first time we heard the prime minister backing expansion publicly. this was significant because we had only heard from russia and china supporting expansion. the fact we heard all of these leaders getting on board for the first time was a big step forward.

we did hear from the south africa minister that they have a set of criteria and guidelines for how countries will be assessed in whether or not they will be members. what we are waiting for, we are supposed to hear from the south african president who is the chair of the summit, do detail whether or not we hear about what specific countries will be added. in that is what we are waiting for at this point in time. lizzy: apart from talking about their own existence and expansion, what were the ideas brought up by these leaders yesterday? [laughter] >> there were a lot of ideas that were floated. there are a whole host of ideas. we heard the russian president on video talking about attention -- potentially bric having their

own supply route. having their own spain -- space exploration. one of the biggest takeaways we heard was the new development bank, the multilateral bank. they are really pushing to increase lending in local currency. there has been all this talk about d dollarization and what we're hearing is not that the dollar will go away but they are trying to tip the scales a little more towards two -- towards the bric. they want to increase to 30%. we also just got news about a new summit or a new event that was initiated by china. it will be a discussion between china and african leaders. the south african president has been talking a lot about how he

wants the summit to also benefit african countries. there will be some sort of meeting happening between china. judging paying --xi jinping will be there. we will have to pay attention to other partnerships, collaborations, and ideas we get today. lizzy: thank you to jennifer and johannesburg. a lot of buzz about nvidia results. teachers are pointing to higher results. we will talk about those results, next. this is bloomberg. ♪ i may be known for my legendary football career, but truth is, i love a bunch of sports. the only trouble is knowing where to find them. that's why i got xfinity. so, i can easily find and watch whatever sport i'm into all in one place without missing a thing. even if it's football, australian football, or football football. in a word—it's fitz-credible.

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>> good morning. this is "bloomberg daybreak: europe." i am lizzy burden. asian stocks follow wall street higher as lackluster u.s. economic reports support the case for the fed to pause interest rate hikes. nvidia sores as the chipmaker gives a bullish revenue outlook. russia says goshen -- prigozhin was on board that airplane and is presumed dead. after the bell, we got nvidia earnings. more on that, shortly. it was a blowout on the insulation will demand -- on the insatiable demand.

a sea of green. u.s. futures pointing to a much higher opening this morning. s and p already had its best day since june. nasdaq futures are up 1.3%. the disappointing dust disappointment did come from macro on both sides. as expectations for more hikes which means it is a case of bad news being good news for the market. treasury yields retreating across the curve ahead of jay powell's speech at jackson hole. we will bring you an exclusive interview from ecb president christine the guard. -- christine laguard. it seems like nvidia remains the big play for ai.

>> they are very happy. green across the screen. it is coming at a great time for china in particular. there have been outflows they after day. that suggested market has been a bit short. the following couple of days, the chinese and bigger markets did extremely well. we are really getting a huge lift. they are being caught and having to scramble in. very positive. it is spreading across under -- other sectors as well. that means it'll have anything else to do with the money.

demand for ai and related projects is so strong. it is very positive. we are seeing it go right across the markets today. lizzy: you got the dollar one trading at its lowest levels more than a week. tell us what is going on. >> we are seeing some traction. they after day it is a very impressive site trying to support the one -- support the yuan. they have also up the stakes by giving a bit of a squeeze in the funding issue. they funding for the yuan is getting more expensive. they are really showing their

muscles. it is really the state banks to control the situation. they are getting the nod that they need to be a bit tougher in the market. that is translating to a stronger currency and we are really seeing some follow-through. the rest of asia seeing it as well. it is a whole range of currencies starting to benefit because the yuan is strengthening. lizzy: thank. breaking news from woodside. it says that the lng union members will vote on the strike action tonight. on the agreement that would ease the strike action. that has wreaked havoc in the lng market. prices sank yesterday on this strong offer from woodside energy. there have been new talks easing the strike threat and the

question is whether the staff will endorse the agreement. this could be huge relief to the sector. anything else would have threatened about 10% of global supply. we are seeing a nice boost to woodside. let's get back to nvidia. shares climbing in after-hours trade after a revenue forecast that was much stronger than expected. for details we have bloomberg's debbie wu, the expert on this subject. debbie, bring us the numbers. >> they are forecasting that will -- it will hit about 16 billion. -- $16 billion. that is way above estimates. there is concern that investment

might cool. also, it may modify concerns about not getting enough supply. they did say something about the inability to keep up with demand. it is happy with the progress of that. lizzy: there was one question mark raised earlier, about the buyback. what does it mean and why are they investing in it? >> i am not an expert of share buybacks but probably it is simply seen that there is no great mende opportunities or they are going to see a surge in

their current products and new products. they are mostly focusing on trent to ramp up production to help it be able to get out as much tips as possible to satisfy the very strong demand from its customers. lizzy: thank you to bloomberg's debby wu. we also have some news from gam. they say they have entered in new and productive productions. they are focused on short-term financing. the interim results of the offer and the expectation that they will be able to declare it unsuccessful.

that story just breaking across the terminal. yesterday we reported that one of their managers had been asked to retract in email. is the latest turbulence. i'm sure we will have more updates on that story for you throughout the morning. now, back to geopolitics. massive news overnight. the man who launched a failed muni against vladimir putin, pezesha is presumed --prigozhin is presumed dead. the video we are about to show you is graphic. it comes from russian media. prigozhin led an aborted meeting in june. it still attention and was the biggest threat to his almost quarter-century rule.

the cause has been given for the crash. ukraine -- the ukraine president has spoken to bloomberg about the future of the wagner group. >> they are out of the fight. i don't think this will end in the death of just the two commanders and i expect other commanders or people loyal to him may be eliminated. no doubt that wagner will no longer exist. lizzy: for more we are joined by marie taddeo. glad you are with me in london today. what details do we have? maria: we do not have a lot of details and that is almost the story itself. the plane crash happened yesterday in the afternoon. 10 people were on board of the jet. prigozhin is listed as one of

the passengers. we should know he is a wealthy individual, he was from st. petersburg and has personal connections to the city. a lot of his business deals were in moscow so it is not unusual for him to be on a private jet. there is no specific cause being pegged to this. it is the fact that there is no details around it that has created a lot of speculation in russia. when you go on telegram and look at the channels, there is a question about if this was an accident. we don't want to get into a lot of speculation but we do know that there is a track record of those who are a threat to flattery putman who have found themselves in critical situations that have found themselves injured or death. -- or dead. this is almost two months to the

day when he led the insurrection. lizzy: that is interesting. does it change the outcome of the war? maria: i don't think so. we know that that does not exist. we know that after vladimir putin said the message of it was treason. either join the army or face treason. the russian government said that they paid for their salaries. make it official or go into exile. it was interesting to hear them saying it does not change much now. there is a question as to what happens to wegner -- wagner. just a few weeks ago he almost seemed to suggest he would concentrate his attention and africa and the continent. lesser member that both the united states and european union saw this as a destabilizing factor in the continent.

when you look at the words of biden yesterday he said "not surprised" and if putman was behind it he would be not surprised either. lizzy: thank you to marie taddeo. coming up, we will speak to the head of the belarus opposition. that is that 10:10 london time. coming up, the first republican debate has wrapped in milwaukee with one notable absence. what we learned from the possible republican candidates, coming up next. this is bloomberg. ♪

>> i am not going to send you --

send troops to ukraine i will send them to our southern border. that will be the last thing they do. we will use force and please them stone cold. >> it has led to the loss of 10,000 -- $10,000 spending power for the average family. when you see this inflation with gas up 40%, food up 20%, electricity up 20%. we can stop that by turning the stick it off in washington and sending the money back to the states. lizzy: that was some of the gop candidates in the debate in milwaukee overnight. for more, we will bring in build. all of them trying to steal the limelight from donald trump. i have to ask you, did he really

hover over it or do they manage to take a bit of the attention? bill: he absolutely hovered over it, including having a pretaped interview with tucker carlsen. throughout the debate as the topics shifted from abortion to the southern border to the phenyl crisis, his team was sending out blasts to its supporters about his opinions on those issues. very few candidates were willing to criticize him directly at all with one exception being his former advisor, new jersey governor chris christie who has made his brand on a tracking -- brand on attacking trump. other than that, they were trying to gain trump supporters and you do not do that by attacking the former politician. lizzy: did it change the dynamic

at all? bill: coming in, everyone has a different goal. someone like governor ford or desantis who is pulling second and hoping not to make any big mistakes and leave a negative impression, i don't think he tripped himself up at all. for many of the people on the stage it was a chance to introduce himself to the voters, someone like a businessman, very outspoken, very experienced debater from his time in college , really trying to make an impression on the american people, who may not know him that well. you have more established politicians like nikki haley. a lot of these candidates, they have to see an increase in soup or in the polls if they want to make the second debate. the threshold to continue on is getting raised with each debate. some of those seven candidates will not be there one month from

now when the republicans hold their second version of this. lizzy: we keep an eye on every moment of that race. bill, thank you for your analysis. coming up, a historic moment for india as it successfully lands near the moon's south pole. more on that, next. this is bloomberg. ♪

if you're trying to get a view of the whole organizational financial health and you're trying to do that through multiple systems, that makes it very, very cumbersome. ♪ it's not just tech, it's not just people. it's how they work together to provide that experience to the customer. as a finance organization that is what you want to do. ♪

lizzy: welcome back to "bloomberg daybreak: europe." fed chair j pal is expected to map out the final steps of the central bank -- jay powell is expected to map out the final steps of the central bank inflation plan. >> the scenery never changes but the economy does. a year ago, inflation was near 9% and unemployment was expected

to jump. this year, a much different outlook. inflation has fallen sharply and unemployment has barely changed. what happens next? they will hear from fed chair j pal, christine l -- jay powell, ecb president christine lagarde and -- do we return to the old low interest rate world or do rates remain higher? the event begins thursday and continues through saturday. monday, global wall street will try to figure out if there were any answers. michael moore, jackson hole. lizzy: -- michael mckee, jackson

hole. lizzy: hopefully you get more than xm around. we will have entered -- an interview with ecb president christine lagarde. don't miss that. now, an exciting development in the world of space. india is the first country to land near the moon's south pole. we will discuss with -- in new delhi. we would like you to explain the significance of landing near the south pole region of the moon and why that is so significant? >> the south for was a coveted spot for many countries, including the u.s. and china.

it is rich in minerals. that can take space exploration to the next level. india now has a head start to mine these natural resources on the moon. lizzy: what does the landing mean for india and overall space exploration? >> a successful landing gives credit to india's prime minister whose vision is to make india a major player in the global space race. this will also help india achieve its other more challenging missions. for example, preparation for human spaceflight are in full swing. very soon, the country will launch a mission to study the

sun. a venus mission is also on the agenda. with the u.s., india is working on two fronts. one is artemis and the other is to send an indian astronaut to the space station. lizzy: thank you to -- in new delhi. if you are just joining us, the is five minutes to 7:00. an update on nvidia. we have blowout results from the forecast last night. it remains the biggest beneficiary of the ai boom. nvidia, one of the few making serious money from ai. chatbots, data centers -- the question going in was whether the second quarter was a star of long-term expansion or a one spike. the results we got yesterday

were more bullish. sales growth hitting its fastest in years, overtaking intel, a major milestone. third quarter estimate blowing estimates out of the water. $16 billion, up from $12.5 billion. their chip production -- supply constraints do not seem to have hampered sales and the only expect supply to increase through each quarter through next year. this really is a historic moment for the tech sector. ceo and cofounder is hailing a new era of computing. traders this morning are ready for risk off the back of these results. nasdaq futures are up nearly 1.3% as we look ahead. former st. louis president will join michael mckee later.

they will be looking ahead to the fed's jackson hole symposium. that is at 1:00 pm for our viewers in london. do not miss that interview. very exciting figure, having stepped down just last week after pushing the fed since mid 2021 to take more aggressive action on inflation. we will bring you the news about woodside members voting tonight about the agreement to stop strike action. it has been wreaking havoc in the lng markets. for details coming up. this is bloomberg. ♪

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