tom: these are the stories that said your agenda. mag seven in correction

territory, we preview earnings from nvidia. ukraine signed a deal with the u.s. to develop resources and trump adds dr. copper to his list. the french finance minister discussed ukraine with trump, live in cape town for the g20. happy wednesday, big day for earnings building up to nvidia and that will be the big

catalyst. the stock is up, expecting earnings from elana and other companies. let's check in on markets. sentiment is changing and treasuries, that was dramatic in terms of the rally. that story stabilized today. a half-point drop in the s&p.

5% downside, mood looking positive. 11 basis point move lower on the 10 year on weaker data, consumer concerns building about fragility in the economy. yields moving higher. 432, euro-dollar down and trump scrutinizing dr. copper. dr. copper pointing higher.

avril hong with a check on the asian markets. avril: tokyo electron the big drag ahead of earnings digesting trump policies and tech names highest level since 2021, lifting it paying saying to the highest level, deepseek re-opening a key part of ai models. reports that regulators spoke to adding bipoc when it comes to regulation and then chinese

president spoke to officials and told them to be calm despite challenges, suggesting a more measured approach, flip the board. u.s. china tech decoupling, look at this chart it will show you how alibaba has been outperforming. decoupling will be put to the test. tom: keep calm is the message from xi jinping. indeed. crossing the terminal, a beat from budweiser with fourth-quarter adjusted of

10.1%, the outlook for 2025 is strong, that's the range so above the estimate, also looking for the margin, strong set of numbers, organic earnings above

estimates. ukraine agreed with the u.s. and may pave the way to cease fire. russia's president plans to travel to the u.s. to seal the deal. >> he would like to sign it with me and that's a big deal. >> let's bring in greg sullivan, does this move closer to the cease-fire deal? >> this is a key step.

we saw tensions boiled over, trump labeling zelenskyy a dictator but there were back and forth, up and downs, now they've reached agreement on a deal and it will take two sides to stop the fighting and they do not want a truce. battlefield gains are slow but prudent has calculated that time is on his side, a step forward for the u.s. and ukraine, specific guarantees are not in the deal.

tom: that ties to defense spending with the prime minister announced england is ramping up spending but will it be enough? will others follow in england's footsteps? greg: no doubt this is a broad trend, this is a response to the trump, voting on a resolution to condemn the invasion of ukraine and we saw european capital sidelined so they are trying to

keep dialogue open with trump. keir starmer is headed to washington, addressing defense spending and keeping dialogue open so definitely in response to trump moves that have europe worried. tom: one of the most significant weeks for the u.k. prime minister. thank you. softening of data suggests the fed may need to cut rates and pricing into cuts up from one. valerie tytel has her finger on the pulse. >> volatility catches many by

surprise. if they are reacting to growth scares. lower than january, a lot of this, uh, uh, uh, uh, added fuel to the fire. a string of weak data hit the u.s. economy. university michigan sentiment, walmart with a profit miss.

taking five-day losses to 2%. nasdaq down 4 percent in 4 sessions. mag 10 percent down. tom: indeed, angst around the u.s> . mag 7, nvidia earning will be scoured with tech in retreat. masahiro has more. what are key metrics?

masahiro: ok, yes. nvidia earning metrics would be revenue for january quarter around 38 billion usd. consensus is important over the pat few quarters, they increased by 4 billion usd every quarter. it increased, so if we see the same pace for growth, ai workload should increase and

direct some info about blackwell ramp up. we hear last year, but if we can hear good progress that should be a relieving news. nvidia's next gen gpu -- we love to see if they are on track to launch, so that's the key point. tom: indeed, masahiro on what to watch for. thank you. china soars, pressure on u.s. on

ai. rebounding while mag 7 enter correction. nasdaq with decent gains, ai innovation and how to position is coming up. this is bloomberg.

tom: xi jinping urged officials to stay calm amid challenges, beijing will take a measured approach to trade restrictions when we are seeing a strong

rally for tech stocks, chinese of course. let's bring in winnie wu. a question about to clear tensions, geopolitics and ai. how are you thinking about those? winnie: those are the two factors, not within control of the chinese government, areas of low visibility is and is whether chinese stocks are investable and it is their growth story for china? sentiment improved. seems after trump's inauguration

a lot of the focus were not on china and people still waiting for the meeting hopefully some sort of agreement or deal will help ease or stabilize the tension. the technology front, the -- the deepseek the breakthrough shows the potential of china development, innovation and competitiveness. tom: and -- and on -- on deepseek, you -- you describe it more as the alibaba ibo moment, explain -- explained that. winnie wu: right, so there are two sides of the story. in terms of the long-term potentially it is similar to bob

oz ipo -- alibaba was ipo inspiring reignited animal spirit if you look at the 10 years ago, bob was listed in 2014. one of the biggest commerce companies in china was established in 2015 so with the success hopefully it can paternal round the sentiment in the past two years. almost every so we need to the private companies were very much de-risking, the ravaging, risk off mentality. hopefully people see the inspire ration and more companies and entrepreneurs will invest, innovate.

that is very important. short-term implication is despite baba and strong rally market had another big correction in 2015 and did not bottom until 2016 because the fundamental has not catch up yet. deflation takes time to resolve so market like to overshoot, market want to see the optimism goes up but when it comes to earnings, employment it will take a few more quarters. tom: national people's congress is coming up -- in beijing, what will you be looking for in the markets?

guest: investor expectations are not high, rally not driven by stimulus even though mpc come up as event it might not derail the rally. for high-level fiscal policy, calling for that. fiscal policy need to be more proactive so the deficit is probably one key thing and decide that a second thing is policies to support consumption, private sector, jobs. these are areas you know with tariff, china facing demographic challenge some supporting new birth should be a policy

regardless of tariffs or tensions and private sector lose confidence. challenges, challenges, these are important challenges for the government. tom: ok. more support for the consumer could be on the agenda and hstech is up around five percent, another strong day. chief china equity strategist at bank of america indeed. the eu set to unveil efforts to tackle lackluster competitiveness, the details next, this bloomberg.

>> ursula vander lyon will meet

with leaders to boost competitiveness. drafts of the clean industrial deal show the block planning boosted investments. let's bring in all over croke and burgenland, walk through the plan. guest: we should get details in three hours unveiled, all that wants putting the urgent see front and center, first step from the commission to include the stick and care it, the great deal to point no revamped after detractors from climate agenda

said competitiveness is important, looser rules, boosting industries and rolling back the regulations and not call it deregulation and it will making it easier to basically reduce burdens and not lose sight of the companies this concluded to hold it back to 85% fewer companies, the report was written when chinese concerns were prominent and with trump the eu understands they are also

against the u.s. as the usd regulates, a europe industry is less competitive and having regulations as hurdles. tom: we will see how industry response. thank you. coming up, in cape town the latest on the g20. next. this is bloomberg. our xfinity network is built for streaming all the stuff people love. how can it get any better? -i'm just spitballin' here, but, what if we offer people apple tv+, netflix and peacock? for one low monthly price. -yes. so, people could stream the shows they love. and we could call it... xfinity streamsaver! mmmmm. what about something like: streamsaver?

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>> good morning this is

bloomberg daybreak: europe i'm tom mackenzie in london these are the stories that set your agenda. magnificent seven enter correction territory, we preview the hotly anticipated earnings from chip giant nvidia. bloomberg learns ukraine has signed a deal with the u.s. to develop its natural resources meanwhile president trump adds dr. copper to his list of trade tariffs. french finance minister discussed ukraine and a cease-fire and trade tensions, we are live in cape town for the g20 finance ministers meeting, we will check in because the story is turning more positive sense of selloff yesterday nasdaq futures pointing to gains across the earnings story lines crossing munich insurer of course we will speak to executives from the company.

the stock is up, here is the dividend above estimates of 20 euros, that is the full year dividend per share above estimates of 16 and a half. in terms of the guidance they see profits of 5.1 billion euros , it's a beat. profit at 979 million, revenue of 64 billion euros, in line with the estimates. we are watching for stellantis, we will get those and bring those to you when we get them. sales increase of 4.7% is the

prologue for the cfo. dan in the yogurt producer, sales increase 4.7 percent, it is a beat, yogurt sales, a beat. full year estimates so a beat for dan as i said, and that stock is up 7%, speaking to the deputy ceo at 8:40 a.m. u.k. time now let's get to the broader market story, the selloff reverses. you saw four straight days of declines. nasdaq fell.

sentiment is turning, nvidia could be the make or break story, ftse futures are up. nasdaq adding 117 points making up for some but certainly not all. you sort a big rally, moderated today the and weakness around dater causing concerns. yields up, 104 and the euro down. dr. copper in focus, tariffs for the metal. now to the g20 where the

governors are gathering increasingly under pressure because trump whipsawed markets with terrorist threats. eric lombard spoke to bloomberg about his meeting with scott bessent. guest: trade, tax, we agreed to talk which is support. we meet again in washington to

discuss the discuss trade. tom: let's bring in jennifer, our chief african correspondent. what can we expect from the south african president? jennifer: we just saw the president entered the building and we think it will be continuation of messaging last week pushing for unity amidst global challenges and using the g20 as a response but as you have been talking about when you look at the g20 and the issues,

the tensions, expectation is we will hear from the president on the theme of sustainability and the big question is how do we see leaders coming together? scott bessent will not be president today, you heard from the finance minister in the u.s. will not be represented but how much can get done? what does the future look like? the president expecting to see

unity and talking about climate so how can they address the inequalities? there is also the debt burden and how can members work together? we are waiting for him to speak. tom: who are we expecting to hear from? >> you just heard from the french finance minister and we are speaking to the german finance minister and ireland's finance minister, also the -- rachel reeves and the curious

thing is how does defense spending change what they can contribute? the u.s. has retreated, which has had a hit on the south and so there is concern about shifting budgets, what does that mean for progress? these are the questions over the last few days. tom: jennifer on the ground as we wait, covering all the action for us, a great lineup, we will speak to euro group president,

spain's economy minister in the ceo of 91 capital. president naugle says having a robust government in germany is one of the first priorities. >> days where there are so many uncertainties and we discuss these it is very important to have a robust government and one priority should be what we can do for german need to boost the growth. tom: central bank governors speaking, for a view on these markets, sabrina from dws, thank you.

what assumptions are you making about the speed and pace of coalitions? >> so thank you for having me. the federal election was positive and the pace would be around easter time. they are aware of the urgent see of key discussions to boost growth. tom: i wonder how short-lived optimism will be? the need for two thirds majority

seems a challenge. does that break constrained further upside? guest: high optimism into the election, the dax is up in the end of the year the dax outperformed euros stocks so just a strong run, it would be ok to see breather one key point is debt loosening and even if it is not loose and and something like off-balance-sheet find is made some investments can be made that would be an option

discussed. there are possibilities to move around the two thirds, discussions on whether the government can implement the debt break, so he there with the government or off budget situation. tom: under -- under those scenarios -- scenarios, what is your preference? or taking shelter in bigger, bigger names and -- into this environment what is your preference? guest: there was higher increase versus the dax because there is a correlation versus the local

economy, 30% of earnings with germany and 20% for the dax. there is a possibility the performance spreads. we saw mag 7 boosting performance and this could brought now but the names would have a higher boost because valuations underperformed. potential is there but very much depends on what the government decides on how to boost the economy, leverage is higher. tom: there is leverage but if

things align may be some adjustments could be how -- how to position. excellent -- excellent analysis. sabrina we will have to get you back because we ran out of time but thank you. anthropic is nearing a deal and valuation above 60 million, can europe boost ai? the south african president addressing the g20. >> shares are on track. the meeeting -- meeting affirmed the g20 as the forum for cooperation and i was

heartened to hear the fact that there is responsibility of the g20 for the economy and fostering conditions for inclusive growth as a critical element -- s playing lightly) ♪ (♪♪) (♪♪) (♪♪) (♪♪) (♪♪) (♪♪)

tom: bloomberg learned anthropic is close to a deal at a valuation of 61.5 billion. reminder of the ability for startups to raise capital and

what can europe learn? i'm joined very pleased to say by the head of europe for analysis and you've been thinking deeply for years about this, talk to us about the e.u. champions initiative, what will we see? >> yes, tom, wonderful to see you. champions initiative is proof of europe's competitiveness, creating momentum over 80 of the largest names in europe and i

think the interesting part is a evaders and adopters are coming together and the big announcements, no clarity as to long-term value so it will lie in the application. tom: what level of adoption are you seeing? guest: customers tried to build proof points, have not pushed into production so the interesting part will happen when we go into vertical depth,

ai will unlock the value of distribution so the hope here is europe has a huge chance, really leaning into ai going forward. tom: you have conversations with those in brussels, what is your conviction? guest: largest group of companies and adopters half come together with brussels, and a lot of openness to understand what we are asking for. hard to grasp where things lie

and a lot of times that leads to locking industries from really getting into it. we need to really increase the process. tom: given what is changing around ukraine does there need to be greater allocation? guest: funding is there, where we need to shift is we need to lean into ai and tech to find

deterrence, we need fast procurement in around bear shields and infrastructure, cables under the ground or under the seat so it will come down to ai. tom: 27 nations, is -- is -- is -- is the eu ill-suited to innovation developing at a pace unlike what we have seen? janine: we've always had strong innovation, it's never been our

weakness, talent has been born and bred in europe so the base is strong, it is just that we have not capitalized in the same way, market was fragmented and ai is different, europe's defeatist mindset, we believe we lost the game, i don't think that's the case. we have an advantage because ai needs into advancements in existing data, and a lot of opportunities for us. tom: a clarion call to lean in and not be defeated. jeanette, thank you. plenty more coming up, stay us. this is bloomberg.

>> welcome back. nvidia results coming through. make or break moment could be nvidia earnings. dan of wedbush expecting solid numbers and potential volatility. around 9.9% is the one-day move. this is the earnings story of the week. stay with us. the opening trade is next. this is bloomberg.

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