this is bloomberg. ♪ tom: welcome back to bloomberg daybreak: europe.s for the s&p so far year to date, 41st coming through yesterday. that's despite the fact that tech was not performing at the levels that we've seen previously. nvidia got a boost yesterday. stock was up on the back of the news that jensen long stopped selling shares. the other lift that came through from the u.s. and the s&p, one of the biggest gainers was estee lauder tied to the china stimulus story. s&p reaching a fresh 41st record yesterday. part of it down to that u.s. consumer sentiment survey. bad news is good news as markets priced in more rate cuts from the federal reserve. around 76 basis points priced in by year end, which would include a 50 basis point cut, given we only have two meetings left that were active for the fed. talking of the consumer sentiment story, interesting around the concerns of the labor market, jobs, that came through in that survey from the conference board. for the context, the survey falling the most in three years, and the labor market context, ver

this is bloomberg. ♪ scarlet: this is "bloomberg markets." i am scarlet fu. in crisis. 20-25 colleges will close annually over the next few years. that is roughly double the average over the last decade. some schools like northeastern and boston are following a playbook to grow amid this collapse. we are joined by the co-author of the story. clearly when it comes to higher education, the strong are getting stronger and the weak are getting weaker. ivy league schools are in a category of their own but smaller schools are struggling to stay afloat. talk about how northeastern is capitalizing on this. >> northeastern is paving a third way within the higher education landscape. since 2019 they have been merging with smaller colleges struggling as a way to keep them alive. in 2019 they acquired a college in london. in 2022, they did one in oakland. they are seizing a moment when schools need a savior or they would close. northeastern is in a unique position when all these other schools are dying. scarlet: how has this change the school as a whole? once upon a time

"bloomberg technology" will be live october 9 and october 10 in los angeles. this is bloomberg. know him as an entrepreneur, tech titan and investor and a heavy supporting female athletes. once invested in angel city football club and now betting big on professional track and field. here is how his company aims to be lucrative for athletes. alexis: 10% of all the revenue spent, broadcast, tickets, hotdogs, goes into a pool and is divided evenly among the 36 women who line up to compete. that is just the start. how long will it take? i don't know. this is the original professional sport. this sport can and should be as big as it is during the olympics. ed: and yet track and field stars are underpaid. that is a commonly held belief. i think about a lot of what you just touched on. my relationship with angel city fc as i have a friend who plays on the squad and that is how i was exposed to them. i was also exposed through apple tv. i do not see the same level with track and field on streaming platforms. what does a media deal for track and field look like? alexis: i think we got ph

this is bloomberg. is it me... or is work not working? at least, not the way it could work. your people are buried in busy work. and you might be thinking... can ai make it all work? it can. on the servicenow platform, ai transforms your entire business. your people work better, your customers are happier, and todd... well... he's practically euphoric. practically. so, let's get to work. (♪♪) >> the global market for ai related products will hit as much as $990 billion in 20 according to bain's latest global technology report saying the market will grow 40 to 55% annually from $185 billion last year the consulting firm says growth will be filled by bigger ai systems and larger data centers to train and run them. driven by companies using the technology to boost efficiency. >> how are they using the technology we will discuss that with today's ai in action. speaking with the global risk exchange platform for specialty insurance market. it's booked on the $400 million of revenue. let's talk about that gro

bloomberg correspondent. we got a lot of data points but the centerpoint was core pce, but the fed lice a look at the most. mike -- what the fed likes to look at the most. mike: good news for the fed if they want to keep cutting interest rates. we are almost back to the fed's target, 2.2% for headline. the fed's target is based on the headline. 2.2% is within touching distance. you could reach out and touch that level. scarlet: within spitting distance. mike: personal spending was slower. people had been worried we would see a drop off in the economy. the personal income numbers also slower. wages and salaries up by .5%, a strong number. bigger than july. it was dividends and interest that cost people money. focus on wall street not doing as good but they will keep spending, anyway. here is the really interesting thing -- the savings rate. yesterday we had the big gdp revision. savings rate almost doubled because of that for the year to date. month after month is basically what we saw was two percentage point

this is bloomberg.e: watching shares of 23 and me rebounding after seven independent board members resigned yesterday protesting the ceos plan to take the company private. and the director said there hasn't been any notable progress on a proposal. it's only up 2% and it has been under pressure. this is extraordinary. it was a special committee to analyze whether or not a deal would look good and clearly they are voting with their feet. >> it's an interesting situation and they actually control the company, she controls the vote so it's up to her what happens to special committee did form and they've been waiting for a fully finance offer to come in and that hasn't happened yet so it seems like they are frustrated on some of these big silicon valley names with sequoia's role has resigned and others pretty we will see what happens. but and still wants to, p private and really the ball is in her court because she has control of the situation. >> it's $180 million less than market cap company trading at $.3

this is bloomberg. ♪ tom: welcome back to "bloomberg daybreak europe." let's focus on the oil space which has steadied after the biggest gain in more than two weeks as hurricane francine hit crude producing regions in the gulf of mexico. a number of different factors are playing into the moves. what is helping to hold prices, is it likely to be sustained in your view? >> there are a few factors, you have the hurricane, it shut about 40% of gulf of mexico production. 670,000 barrels a day, not a huge amount but it will tighten things in the near term, and we will see after the hurricane comes through, how quickly will these offshore production facilities resume, that will be one thing the market will be monitoring. that is a factor that could keep prices at that $71 level we are at now but later today we will have the iaea come up with a monthly oil report, and that is closely watched and will give a hint we stand in terms of potential oversupply for an increase in inventories in 2025. since the last rep

this is bloomberg. ♪ tom: welcome back "bloomberg daybreak: europe."sia reportedly sharing secret information and technology with iran that could bring it closer to being able to build nuclear weapons. western officials believe it is an exchange for tehran providing moscow with ballistic missiles for its war in ukraine. it is being described as worrying. israeli military says a missile fired by gammons ho -- by yemen's houthis on sunday. the long-range attacks have mostly been intercepted over the red sea. tomorrow on horizons at do not miss bloomberg's exclusive interview with iraq's prime minister. the wide-ranging interview covered the nation's economy, opec and iraq's oil production and his thoughts on the geopolitics of the region. stay tuned or tune in for that interview. an exclusive tomorrow at 5:00 a.m. in london, 8:00 in dubai. the international association of machinists union says it will meet with federal mediators assigned through the federal mediation service to begin discussions with boeing on tuesday. boeing's offer of an 11% wage incre

the details next, this is bloomberg. ♪ ♪ >> welcome back to bloomberg.te tax rates and audit the federal government as he pitched his agenda. he says he will prioritize the economy. trump: to support american manufacturing my plan calls for tax credits, 100% bonus depreciation, expensing and reduction in corporate tax, 15% for companies that make their product in america. ,: join now by kriti gupta. kriti gupta, this sounds like a full-blooded pitch to corporate america. there is a deep division now from kamala harris and trump. kriti: the -- the -- the thing is these are two candidates trying to appeal to voters because the biggest topic is the economy, inflation, more so than any other, this is where they are trying to make strides with donors and that's where the comments come in handy. this is in comparison to 28%, still lower than biden. trump leans into a success story that he kind of had his first term, significant because not only did they make the deficit larger and it came with a lot of criticism but net-net economists will agree regardless of

this is "bloomberg technology." ♪ caroline: this is "bloomberg technology."ng at a live shot of the principal room. you will find the podcast in the terminal and online. this is bloomberg. ed: fuse energy has raised $32 million, valuing the start up above $200 million. industry experts say producing viable fusion will require another decade or two of work, giving the company plenty of runway. you and i know loads of people who have been talking about fusion for a while. this is a tangible start up and part of the process. it sounds like we are still a long way off of it being mainstream. >> the technology will take a decade or two to create commercially viable energy. this company is looking to make money along the way by providing radiation as a service to not only the private startups that are looking to do this. there is a lot of money and a lot of interest in commercializing this but more important to provide revenue and testing results immediately by providing radiation as a service to nuclear weapons testing and also use the data to build their own fusi

ed: this is bloomberg technology. check out the bloomberg technology podcast. this is bloomberg., a singapore-based firm, a private lender, has closed its second debt fund. his target says global investors remain cautious about the southeast asia start up industry and the firm has raised $125 million, securing new investors. plus, a firm that has backed fintech has raised $2 billion for two new funds, including the first dedicated alpha growth capital and a response to a dearth of late stage technology financing in europe according to the firm's ceo. a start up backed by sam altman launched a modular system to dispatch clean energy to data centers. the start up is relatively new and already has a demand backlog from some of the largest data center operators. ed: an open-source start up in arkansas are raised $57 million from excel and a partner who led the investment joins us in san francisco. i have experience covering tech in arkansas. i have spoken with a partnership who wanted to be a tech hub. i was surprised to see a bit about the company. >> the accent was a dead giveaway

>> this is "bloomberg technology." caroline: live from new york and san francisco, this is "bloomberg technology." taiwan accusing china of illegally poaching talent from its tech firms. we dig into the trade tensions. ed: x goes dark in brazil. a countrywide suspension on the platform formerly known as twitter. caroline: sharks are circling some of ai's guest question marks as earnings season marches on. first, a check in on the pressure in the markets. it is a risk-off day. it is a month that generally is hard to work if you are long stocks, but on the nasdaq 100 we are off on -- at 2.2%. -- 2.3%. ed: there is a lot of downward pressure in the chip sector. that name there is a big reason why. nvidia down 8%, ontrack intraday for its biggest drop in about a month, although at times in the session its biggest drop since april. there is not a clear catalyst. there may be some hangover from earnings. about how jen-hsun huang' is often-resounding message did not get through last week. we -- but maybe there are some macro

this is bloomberg. ♪ tom: welcome back to bloomberg daybreak.ts of hit a two year high on the back of searching tech stops. the head of market analysis from rbc. thanks for joining us in the studio. we have the lines crossing from the politburo. they double down on the support around interest rate cuts. we are waiting for the details on that and we know is the key part of the ingredient that economists say was missing from the monetary policy. the significant support joins us this week. my question is how do you play the china story right now? >> thanks for having me. i do think that the stimulus package has been quite comprehensive and i think that the authority was to support the economy and property market. i do believe it could still be momentum for the market rally in china for how cheap it is. it has been very weak there. further rally in the chinese stock market. but for us i think there are still? sustaining their rally. the details on the fiscal side is still missing. and also the boost of the stock market is the aim is to lend money to

this is bloomberg. ♪ tom: welcome back to "bloomberg daybreak: europe."amala harris and donald trump traded jabs over their debate in their return to the campaign trail with candidates visiting two crucial swing states. vice president harris kicked off her blitz with a rally in north carolina, while former president donald trump pledged no taxes on overtime at an event in arizona. mr. trump: i am announcing we will end all taxes on overtime. do you know what that means? v.p. harris: my plan is to give a $50,000 tax deduction to start up small businesses. because you know not everybody started out with $400 million on a silver platter and filed for bankruptcy six times. tom: for more let's bring in bill farris. we heard from both candidates on tax. donald trump seeking to regain the initiative for his footing after a debate that was widely seen as a win for harris. as he succeeded? talk about whether that will inject new momentum into his campaign. >> that is the latest economic proposal from donald trump. we have seen him make several in the last few week

this is "bloomberg technology." ♪ ed: this is "bloomberg technology."it live shot of the principal room. check out the "bloomberg technology" podcast. this is bloomberg. caroline: it has gone viral. taylor swift has endorsed kamala harris. she made the announced minutes after the debate in a social media post. she calls herself a "childless cat lady." we understand the reference. bloomberg opinion's david lee is with us. it feels like underlying all of this is artificial intelligence. david: this was anything that taylor swift said motivated her to speak out and publicly endorse harris. she made a specific point of bringing this up. there has been misinformation posted about her by trump on true social suggesting she was endorsing him and some of her fans were supporting him, as well. this represents the first major impact we have seen from the use of ai in an election. we have heard researchers warn about deepfakes could perhaps influence voters. this has come from a rebuttal rather than the original content itself. taylor swift's response will be seen

this is bloomberg. this is bloomberg. ♪ [suspenseful music] trains. [whoosh] ♪ trains that use the power of dell ai and intel. clearing the way, [rumble] [whoosh] so you arrive exactly where you belong. ♪♪ ♪♪ ♪♪ sandals jamaica sale is now on, visit sandals.com or call 1-800-sandals scarlet: this is bloomberg markets. i'm scarlet fu. our stock of the hour is disney. tears are falling. it was down as much as 1.1% but has come back a little bit we had a contract dispute over the weekend led directv customer surveys access to espn, abc, and other directv -- other disney programming. chris palmeri has been covering this and joins us live from los angeles. chris, the timing of the dispute is no accident. it's at the start of the timber when football season begins, college football and nfl. disney has a history of getting into contract disputes around this time of the year, doesn't it? chris: one year ago they got in a big fight with the charter now the number one cable company with a similar thing about renewable abc and espn.

this is bloomberg.as raised 865 million dollars to invest in growth stage companies and has hired a new head of growth to lead the fund. here to discuss is a headline growth partner. welcome to bloomberg technology. big fund, growth stage. we have been doing a lot of early stage. what is the mission statement of the fund and what are you going to be doing with the money? nancy: first, thank you for having me. i'm excited to talk about our new global growth fund and strategy. headline has been around for almost three decades. this growth fund represents a new step in continuing to back great founders across all countries and be able to support them in all parts of their dream, so i think in terms of headline overall growth strategy , in the past they have been focused on doubling down on existing winners in their portfolio. this new growth strategy has brought on a new team, myself included. we have all come from different institutions, bringing lots of learnings from all the great people we have worked

some bloomberg reporting is a part of it.iden harris administration's big bet on intel to lead the u.s. chipmaking renaissance is in trouble with the mounting financial struggles this could create a potential damaging setback for the country's most ambitious policy in decades. i think in simple terms mackenzie sources tell us intel's frustrated because they want access to the money. on the government side the white house is frustrated because intel is not doing what they need to in order to get access to the money. >> 30,000 for perspective, the u.s. set aside $39 billion in grants to bring chipmaking back to the united states. to revitalize mastic production of these critical electronic components. intel is was to be the biggest winner. they traveled to the company's facility and said 8.5 billion dollars in grants. intel is in line as it pulls out. the company is been in dire financial straits and hosted a pretty disastrous earnings report at the beaning of last month. now while the chipmaker says this is moved faster, of by

this is bloomberg. ♪ scarlet: this is "bloomberg markets." i am scarlet fu.e presidential debate showed there is concern about the housing crisis. home affordability has fallen to its lowest since 2006. there is a severe supply shortage. our next guest said he cannot remember when the -- cost of housing was such an important topic. david schwartz. thank you so much for joining us today. david: thank you for having me. scarlet: each candidate has proposed how to fix housing. kamala harris wants to give tax credits and a $25,000 assistance. donald trump wants to reduce regulations. talking about new york city, when either solution do anything? with a move the needle? david: thank you for asking. the important thing is we have a supply-side issue. we do not have enough units. that has been going on since the gmc. how do we build more units? if we are in north carolina, florida, there is a nationwide issue and needs a nationwide solution. abigail: how did we get to this will -- how did we get to this point? david: it has been going on for some time. after the gfc

this is bloomberg c. -- this is bloomberg. thank you.g our biggest sale of the year, save 50% on the sleep number limited edition smart bed shop now at a sleep number store near you. ♪ tom: welcome back to bloomberg daybreak europe. china is one of the source for finance pouring $1 to billion through its belt and road initiative. south africa's minister of agriculture spoke to bloomberg in beijing about his hopes of expanding with china. >> we are focusing on making sure that we build stronger relationships with china and that at a technical leveling a cultural products are able to meet the security requirements of china. but also looking to expand the bostick of goods that we are providing to the chinese market. currently we have a large citrus expor and beef export and we are wanting to add some processes to that and using the course of these next few days and expand on those opportunities. well, bloomberg's north asia's stephen engel is at that summit. more than 40 leaders in beijing. this is a different chinese economy. this is a mor

this is bloomberg ♪ -- this is bloomberg. ♪ sonali:sonali: welcome to bloomberg markets.out a different part of the ken griffin empire. we are going to talk about citadel securities. it has quietly shelved plans to become a bond dealer trades jointly with the federal reserve. for new a decade, the firm's executives had seen that move as a step toward its goal of being a dominant force of the trading of treasuries. they are becoming a dominant force in different way. we are going to bring in katherine doherty who has been covering this story and i think not a lot of people understand how important the treasury market is to the growth and expansion of citadel securities. how are they able to succeed in this market the way they have in without becoming a primary dealer? katherine: when the firm first entered the treasury market, they signaled they wanted to become a primary dealer to show their commitment to the space. that commitment over time has been shown in other ways. in the secondary market, they have been able to build to be a presence that has become so big, they ar

that's next on bloomberg. vonnie: the 2024 report from the bill and melinda gates foundation found the worst child health crisis is malnutrition and its economic impacts. caroline hyde recently spoke with bill gates about the details. caroline, what stood out to you as the deepest impacts of what they are trying to do? caroline: the economic costs. $3 trillion. we talk about companies, nvidia being worth three toyland dollars -- $3 trillion. the global impact of malnutrition in this day and age being 3 trillion dollars. why? because it impacts not just the ability for children to grow, but mental capacity. it forces countries in particular african nations into poverty traps when they can't escape it. talking to the man we have with technological innovation. it does not take much to make malnutrition a thing of the past. it means bouillon cubes that are more fortified, prenatal vitamins. let's hear more about how ai and innovation can help. bill: malnutrition is in some ways a very basic thing. we do need to ra

this is bloomberg. ♪om: welcome back, happy friday. commerzbank's management said to meet with unicredit today, the first encounter since the italian bank started building a major stake in the german lender earlier this month. let's get more from oliver crook who has been following this at a granular level. a roller coaster week you would been charting with that insight. where do things start right now as we lead up to what could be a colorful meeting? >> definitely a momentous meeting capping off what has been a spectacular week or european banking. let's bring everybody back up to speed. orlopp made her case to investors and shareholders saying what we are planning to do in contrast is increase profitability, boosting investor payout to 90% of profits, and the board after meeting with management unanimously back this proposal as a standalone entity. now commerzbank and unicredit have their first meeting today. this may be an early touch point. this could be the first of many meetings going forward. ital

this is bloomberg. ♪ paul: welcome back to bloomberg markets: asia, you're watching the india focus.ok at how we are tracking the head of the open just under two minutes away. looking like a fairly flat day at the moment, according to the premarket there. the annual clsa investors forum begins in hong kong bringing together senior executives and investors to discuss top issues from geopolitics to the macroenvironment. our next guest is one of the speakers at the forum. india strategist at clsa, thank you so much for joining us. you certainly are not alone. specifically, where do you see the best opportunities right now? >> i think the best opportunity for everybody is to look at the long term for india so it's not just sectors, it is to look at india. if you were to compare other large markets on the large economy on most of those things, india would stand out. maybe it comes out of the recent presentation where we say, there are seven powerful ones holding the indian market together. and those could be things like development, demographics, domestic investors, dependability. in all

this is bloomberg. ♪ lizzy: this is bloomberg markets. coming up to 2:30.n weaker than expected. seems a lifetime ago. the economist tuesday mid bears, claudia sahm, says the u.s. is not been recession. she has been writing for bloomberg and says it joins a long list of economic tools skewed by the past four and a half years but the role is still relevant in the risk is elevated . you can see how previous breaches of the rule have triggered recessions. if you flip the board over it you can see small business hiring plans are in a downtrend and that tends to lead unemployment rise, and then if we flip again to the next chart, you can see bloomberg economics fed sentiment shows the central bank starting to move toward a more dovish tone. there we have the sahm rule. friday is jobs data will be critical. until then let's get analysis from chris watling, chief market strategist at longview economics. let's start small. recession or soft landing? chris: that is the question. that is the guts of every major asset class decision at the moment. bonds, equities with

this is bloomberg. ♪ ♪ [suspenseful music] trains.♪ trains that use the power of dell ai and intel. clearing the way, [rumble] [whoosh] so you arrive exactly where you belong. just stop calling each other rock stars. and using workday to put finance and h.r. on one platform. tim, you are a rock star. using responsible ai doesn't make you a rock star. it kinda does. you are not rock stars. (clears throat) okay. most of you are not rock stars. oooh. data driven insights, and large language models. oh, that's so rock roll. it is, right. he gets it. yeah. vonnie: this is "bloomberg markets." i'm vonnie quin. buyers and sellers in u.s. commercial real estate are increasingly convinced the market has reached a bottom. prices down 19% from a peak in 2022, but up 3% this year. for more on the market, we are joined by abigail doolittle, and the cold global head of real estate, todd henderson. it seems like there is more stories about that are actually improving so much over the last 12 months. a couple on the bloomberg today. can we definitive

this is bloomberg. ♪ scarlet: welcome to "bloomberg markets." at the markets right now. stocks have come off their lows, still down but it went point s&p was down 1.6% on the hotter than expected inflation print. the nasdaq, better performer, gaining. we will get into some of the individual movers. a lot of movement in the treasury space. right now the 10 year yield, up almost two basis points. there's a big auction coming up, $39 billion being sold in about 30 minutes time. bitcoin up by more than 1% following yesterday's presidential debate between vice president harris and former president trump. let's get to those made to equity movers and bring in abaco doolittle. abigail: one reason we are off the lows, we did have the s&p 500 down more than 1%, even more than 1.5%. take a look at nvidia at session highs, up 4.3%, holding well above $100 per share which seems like a dividing line. it is one of the biggest readings of the s&p 500 and nasdaq, taking both of these off their lows. nasdaq 100 positive the last time i checked. you can see the ot

"bloomberg technology this is"bloomberg technology ♪ -- this is "bloomberg technology ." ♪ n.afari? hot air balloon ride? swim with elephants? wait, can we afford a safari? great question. like everything, it takes a little planning. or, put the money towards a down-payment... ...on a ranch ...in montana ...with horses let's take a look at those scenarios. j.p. morgan wealth management has advisors in chase branches and tools, like wealth plan to keep you on track. when you're planning for it all... the answer is j.p. morgan wealth management. the moment i met him i knew he was my soulmate. the answer is "soulmates." soulmate! [giggles] why do you need me? [laughs sarcastically] but then we switched to t-mobile 5g home internet. and now his attention is spent elsewhere. but i'm thinking of her the whole time. that's so much worse. why is that thing in bed with you? this is where it gets the best signal from the cell tower! i've tried everywhere else in the house! there's always a new excuse. well if we got xfinity you wouldn't have to mess around with the connection. therapy's

this is bloomberg. ♪ paul: welcome back to bloomberg markets: asia, you are watching the india focus.n markets ahead of the open. unsurprisingly it looks like we are setting up for a positive day here. we have seen the nifty futures cracking through, 26,000 on wednesday and pushing past that now. setting up for a positive day in india. positive day for most other markets as well. let's take a look at india's economic outlook and get to the next guest who sees gdp expanding 7.1% in the third quarter up from 6.7% in the prior period, radhika rao is senior economist at dbs bank. we also perhaps, supporting your thesis, much lower oil prices as well. how do you see lower energy prices helping with the growth story and contain inflation in india? >> lower import oil prices are certainly a big for the macro economic outlook. with oil prices trending closer to -- the government hopes to see that level sustained for a while before they begin to cut domestic fuel prices, but as that is passed on, it would mean lower import prices for households and that will be better purchasing power. as it s

this is bloomberg. ♪ sonali: this is "bloomberg markets."ies exchange is entering the options market with its own exchange. brian harkins is leading the charge and here today. we are also joined katherine doherty who has been covering the story for bloomberg news. first talk about why you are doing this. there is a cost to building the infrastructure. what is the big opportunity for you? >> thank you for having me on. we looked into the entry into the market. what is driving it is the unprecedented growth in the industry driven by retail activity. it is one of the fastest growing asset classes in the world. option market volumes have tripled over the last decade. two, i think what we built and our obsession over market quality is driving our entrance. third is that success starts with people. we have built an amazing team with a great foundation. we just brought in two of the best exchange experts for options. sonali: there are a number if ---- >> there are a number of options exchanges. if approved, yours would be the 19th. how do you see s

this is bloomberg.about africa? safari? hot air balloon ride? swim with elephants? wait, can we afford a safari? great question. like everything, it takes a little planning. or, put the money towards a down-payment... ...on a ranch ...in montana ...with horses let's take a look at those scenarios. j.p. morgan wealth management has advisors in chase branches and tools, like wealth plan to keep you on track. when you're planning for it all... the answer is j.p. morgan wealth management. caroline: welcome back to bloomberg technology. i am caroline hyde new york. ed: one of the big stories is the u.s. listed shares of chinese technology companies. the news is that the chinese government is coming with a big stimulus package to kickstart the economy. so you see alibaba doing really well. the nasdaq golden dragon index is on track for the best day since january 2023. let us go out to henry who is in london and covers china tech stocks. some of these names have underperformed year to date and recently they re

this is bloomberg. ♪ tom: welcome back to bloomberg "daybreak: europe."amala harris wants to raise capital gains tax on people earning a million dollars or more. speaking at a campaign event in new hampshire, the democratic candidate set america's wealthiest should pay their fair share. >> if you aren't a million dollars a year or more, the tax rate on your long-term capital gains will be 28% under my plan, because we know when the government encourages investment, it leads to broad-based economic growth and it creates jobs which makes our economy stronger. tom: for the details, i'm joined by kriti gupta. why do you make of these plans, these proposals coming from kamala harris and what it tells us about her economic priorities? >> this is a stark difference from her predecessor joe biden. there's a criticism that she doesn't understand economics. she has already expanded on joe biden stocks around price gouging, medicare, and center, where there is a concern that if you start include price caps and make things more affordable on things like groceries and

annabelle droulers, bloomberg news. is the chip industry paid -- faces the prospect of more tit-for-tat, one firm says the solution is expansion, global wayfair's is the world's third-largest provider of essential materials for making semiconductors. chairperson and ceo spoke to us about plans for funding from the biden administration signature chips and science act. quakes $400 million for our two expansions in the u.s., one in texas, which is for 300 events in profit. our soi 300 meter soi operation in missouri state. also, these two products together we got 400 million u.s. dollars of support from the u.s. government. on top of this, we also tried to apply a mic advanced manufacturing investment credit from the u.s., which will be around 25%, so that's definitely very helpful for us. annabelle: receiving that funding is contingent on meeting milestones. as i understand, all the specifications around them are still being ironed out, so where are you out of those negotiations right now? >> we just finalized pmt, the pr

welcome to "bloomberg markets asia." the fed makes an outsized rate cut to fend off mounting risks to the labor market. chair powell pushing back against criticism that he is behind the curve. >> we don't think we are behind. we think this is timely, but i think you can take this as a sign of our commitment not to get behind. paul: also ahead, bearish bets on chinese assets are expected to continue as consumption sees no big boost from the holidays. plus, we got the markets' outlook from the ceo at the global cio office. later we will hear from blackstone private equity's asia head. let's have a look at how asian markets are tracking. it is a broadly risk on day, particularly when it comes to the nikkei, better by 2.5% at the moment, perhaps a function of a rapidly weakening yen. the yen hovering around 143.19. you might think that is a somewhat counterintuitive move, considering the 50 basis points of easing we just saw from the fed, but jay powell saying 50 basis points is not the new base case. the mliv blog saying th

this is bloomberg.en administration is preparing stricter export rules for quantum computing and semiconductor products. once again taking aim at china. mckenzie hawkins joins us for more, and this is getting ever more cutting edge. >> right. the rules we saw the biden administration release yesterday as an interim final rule, meaning nothing is set in stone, are trying to take aim at technologies looking at a chip architecture expected to be introduced into the market next year, as well as cutting edge quantum computing and computer components. sort of trying to align with countries around the world that have also introduced similar, or in some cases identical, rules. and in doing so limit themselves from the impact of export controls. we have a global coalition forming. it includes the u.s., japan, and the netherlands, as well as other allies such as the u.k., canada, and italy. ed: in your story you quote alan estevez, who runs the commerce department's euro of industries and security. in the quote y

to bloomberg markets.s sink and treasuries rally on a jobs report one fed official says requires action. here is the market fallout from the weaker than expected jobs report. start with the s&p 500 down for a fourth day and on course for its worst week since march of 2023. this is a broad-based selloff. seeing it across sectors but egg tech is leading

check out the "bloomberg technology" podcast on the terminal, apple, spotify. this is bloomberg. working on a deal that would leverage his x ai start up data in exchange for tesla revenue. kurt wagner joins us for more. it's a "wall street journal" piece about the intertwined of his companies. can you tell us what has been reported on what would be gotten in exchange? what x ai would give to tesla? kurt: can this proposed feel it would help tesla with the self driving technology as well as other projects like the humanoid robot project tesla is working on. in exchange for a share of revenue driven by the projects. as you mentioned, we were just talking about this last week, all of these different companies in the elon universe working together. saying this sounds like a great deal, right? suddenly a huge potential revenue stream and client in tesla. i imagine the tesla investors might feel slightly different but this is yet another example of the elon world colliding with his various businesses. there has been pushed back from investors about the sharing of chips, for example --

is bloomberg. ♪ >> welcome back to bloomberg daybreak. happy wednesday.kets are pressing a slip dire that 50% chance of a half-point rate cut by the fed. there's one associates says the overall picture of the u.s. economy warrants a smaller move. quick 25 or 50, it doesn't make a difference. i think that is the problem with the new cycle in all this. they're losing sense of the bigger picture. fed policy. the fed has to keep interest rates high enough to satisfy the creditors so they can get a real return. this would be the right thing if you look at the whole picture. if you look at the market situation which is worse and that affects more people, it is probably 50 basis points. >> what is the state of the u.s. economy? you're talking about 25 or 50 based on how the economy is doing. from the data we have gotten so far, does it justify 50? >> we have a model for estimating what it should be. the economy right now is very close to an equilibrium level. it would look like there should be a modest easing of interest rates. to or more positively sloped yield

this is bloomberg. this is bloomberg.02 pounds on golo.e lost so the first time i ever seen a golo advertisement, i said, "yeah, whatever. there's no way this works like this." and threw it to the side. a couple weeks later, i seen it again after getting not so pleasant news from my physician. i was 424 pounds, and my doctor was recommending weight loss surgery. to avoid the surgery, i had to make a change. so i decided to go with golo and it's changed my life. when i first started golo and taking release, my cravings, they went away. and i was so surprised. you feel that your body is working and functioning the way it should be and you feel energized. golo has improved my life in so many ways. i'm able to stand and actually make dinner. i'm able to clean my house. i'm able to do just simple tasks that a lot of people call simple, but when you're extremely heavy they're not so simple. golo is real and when you take release and follow the plan, it works. paul: normally at this time we would show you a live shot of shanghai

this is bloomberg. >> welcome back to bloomberg daybreak: europe.erman chancellor has narrowly avoided defeat in state elections in brandenburg. let's bring in bonnie crook in berlin. >> it's a major story here in european politics but also for german politics and a small section of germany which goes around berlin, which has been held by them since the reunification in the 1990's. they managed to hold onto it narrowly. >> what does it mean for the economy going forward. they are joined by the president of the economic research institute here in germany. i would like to begin with your reaction to the results. >> the result is the continuation of the polarization we have seen over the past few months, meaning afd together with a new start up populist movement, they basically have a majority, and that makes democratic politics more difficult. it is more difficult to form coalitions. and therefore ultimately the political paralysis we have been seeing over the past two or three years is becoming more difficult and entrenched. >> we saw what happened i

paul: bloomberg's news editor there.nd a new poll shows kamala harris has raised most of -- has erased most of donald trump's lead in michigan. 46 percent of respondents supported donald trump while 45% backed harris. the same poll in july gave donald trump a seven point lead over biden. parties on the extreme right and left in germany of more than 60% of the vote in eastern germany. the alternative for germany is on course for the first win for a far right party on a german ballot since world war ii but it is highly unlikely to be able to form a government. the french president is said to have held talks with senior political figures as he prepares to name a new prime minister. he plans discussions with conservatives. he may announce a decision and the next few days. france has been a caretaker government since indecisive parliamentary elections in july. plenty more to come. this is bloomberg. ♪ people are trying to b an books from public schools and public libraries. yes, libraries. we all have a first amendment right

this is bloomberg. ♪ ♪ tom: welcome back to bloomberg.pple with the first ai smartphone unveiled. our big take looks at its rise. let's bring in matt, tech analyst at bloomberg intelligence. what to expect? how consequential could this be? matt: we heard about their ambitions in june, this might be underwhelming. it will look like the 15, a platform for new features pushed out so it will be interesting how hard they push the teachers. rolled out late this year and a few other things like action buttons and a new button that is like the capture button on a digital camera. that is a new feature you can upgrade for. the pro and promax will be bigger, so no overwhelming updates. definitely pushing ai but it may be delayed excitement given these features won't happen for a few months. tom: what is the competitive threat? matt: there's lots of competition but you've got android and iphone camps and there is not too much shift either way. everyone is looking for a super cycle and i don't think we will get that but maybe has more ai features beco

scarlet: this is bloomberg markets.is time for our stock of the hour and we are watching shares of boeing take off after reaching a per luminary deal with its largest labor union to avoid a strike. workers will vote on the deal later this week with most analyst optimistic it will be approved. turning us for more is george ferguson, bloomberg intelligent senior aerospace defense and airline analyst. what would you say are the odds of this will go through because this is not a done deal and the membership could surprise us. george: i think it is better than 50% odds it will get done but we are seeing a bunch of chatter in social media are members of the union that are not happy with the agreement. the agreement between their leadership and boeing that is chad the pay increase -- that is. the pay increases 25%. boeing said with progression payments which are internal pay increases over time it is like a 33% increase. the union to come out looking for 40% so there is a bit of a gap and that may be of the reason people are d

. >> welcome to "bloomberg markets ." noon in new yorker, plenty of action across asset classes against key headline data. numbers masking some of the action. u.s. stocks giving up early gains but continuing to advance thanks to a strong forecast from micron. the s&p, up .4% right now. gold at a record high, silver is at its best record since two thousand 12. a little bit of action right now in the treasury market, the 10-year yield moving up to 3.8 0%. plenty of price action in chinese assets. offshore u.n., strengthening that china might inject capital into their biggest state banks. already this week beijing has unveiled broad stimulus measures, including interest rate cuts. going back to equities for a moment, checking in with abigail doolittle, she has individual names she is following. abigail: some of that stimulus out of china is boosting the chinese tech adr. you can see all of these names in fact, the well-known china, tech, auto ev names higher on that stimulus involving the housing market, the property market,

this is bloomberg. ♪ >> i urge u.s.me to an agreement that respects workers, that ensures the flow of commerce through our ports, and the stakes are very high. the potential for disruption is significant. caroline: the govern another hochul earlier this hour. workers threatening strike tomorrow over a new contract. bloomberg's dani burger joins us from right outside new york shipping port in new jersey. we're hearing in a facebook post from the i.l.a. that usmx continues to go to a settlement, they currently are saying. this coming from the international long shoreman's association. it feels like a deal is not near done. >> no, they are still a long ways away. given that post that seems like the strike will likely be on 12:01 a.m., one minute past midnight on tuesday, when the contract expires and when a strike will happen. 45,000 members to this union, that is some 36 ports, it's about half of the goods imported into the u.s. the sticking points are two very big ones, carolyn. it is one pay. they want some 80% pay rise

this is bloomberg technology. ♪ caroline: welcome back to bloomberg technology.aroline hyde in new york. ed: i'm ed ludlow in san francisco. caroline: openai's latest fundraising is near completion with prospective investors set to find out today whether they will be part of the deal, according to sources. everyone wanting in on this? >> certainly a lot of venture firms are and strategic's. we have reported microsoft, which is in an -- existing investor, will be putting in more. also nvidia and apple and a slew of other investors are trying to put money in. they will find out today after it was oversubscribed by billions of dollars. ed: what i find interesting, a source told me a couple of weeks ago that nvidia was only going to put in say $100 million and there are other reports of a fresh hold. it is not a surprise that the most important ai company in the world has investors of all kinds fighting to get over a relatively rare round. katie: sure. they raised an 86 billion dollars valuation last year. it is a significant premium to that. there is no question the

caroline: welcome back to bloomberg technology. us talk politics because elon musk is opening his wallet wider in support of republican candidates in battleground districts. his super pac is funneling $2.1 billion in his first foray into congressional races. mike sheppard joins us now. this is new. which races are they targeting? mike: what they are looking for are some of the most closely contested districts in the country. these are the kind of competitions that could decide control of the house of representatives come november. these are areas where joe biden won in 2020 but democrats in 2022 lost those seats. now the democratic party is making efforts to regain control of those districts so that may be they could flip the house back into their hands come november. this will not be easy but it is something a little more within reach than it might appear, even as we look at a closely contested presidential race. elon musk putting money from his super pac into those races. one is in westchester and another is an district -- a dist

this is "bloomberg technology." ♪ okay, team! have done it without you. honestly, i don't do a whole lot here. i'm really just here for the at&t internet, it's super-fast so, any pre-launch concerns? what if nobody buys them? that's mean or, what if everybody buys them? oh, i hadn't thought of that that's probably not gonna happen can we handle that kind of traffic? the network can handle it! i downloaded eight hours of true crime stories just during our last video call i'm learning a lot >> from new york city for viewers worldwide, i'm sonali basak and bloomberg real yield starts right now. coming up, a week of economic data sets

welcome to bloomberg markets: asia. hong kong and mainland china extending pending data gains as stocks find their mojo. trade tensions simmer and the executive director of the business council explains how southeast asia is an opportunity. asian stocks on the back of china and the property sector. look where we are, hang seng up right now. asian stocks up. we are seeing monetary easing but fiscal policy at this point, getting a boost from china. u.s. posting yet another record high. yuan in focus, where will it go and how much tolerance does the pboc have when it comes to a stronger currency? let's get more with mary nicola and our first guest at sep. is it sustainable? people say something else needs to be done. mary: it does not fix the problems in the economy but at least you see a sense of urgency , announcing equity stabilization fund, huge deal. rate cuts were priced in but trying to put a floor under equities. haslinda: a sense of urgency but not enough. >> indeed. you have to make sure domestic demand picks up.

this is bloomberg technology emily chang -- caroline: this is bloomberg technology.ng is sitting down with the salesforce chair, marc benioff this afternoon. ♪ ed: too many brokers and money managers use the same ai for work, it can set the stage for market turmoil according to sec chair gary gensler who spoke to romaine bostick and alix steel yesterday. gary: we've been automatic for a long time. 100 years ago there were debates whether to allow telephones on the floor of the new york stock exchange. automation is a good thing overall but you are right, we have to also make sure that we still protect the investing public. in terms of artificial intelligence, i think it could bring greater access and promote markets but at the same time, we have to guard against fraud, whether you're using an algorithm to defraud the market or a human is doing it. i do think that there is a challenge. the financial crisis of the future might be that we say we were all relying on the same model, the same algorithm, the same data. that is a challenge that is on this guy's mind. ensurin