tom: kriti gupta joining me now.he pic of tim, not josh shapiro, not the representative out of arizona, someone involved in space. this is the governor of minnesota, why choose him? >> no one has heard of his name and the reason that is a blessing is the appeal is he has grassroots between nebraska and minnesota. a major red state and he has voted conservatively during his time, he was a secondary school teacher and has plenty of military service. very simple, relatable and appeals to blue-collar workers when criticisms are that kamala harris is a coastal elite out of california in the limelight. within california. tom: we will see how it plays, kriti gupta indeed on the pic indeed. these candidates in november. back to earnings, siemens energy with a beat. siemens praising its target again and the focus on free cash flow, siemens see pretax between one and one half billion up from one billion. it is the gas business doing well off saying the challenges around wind turbine business. we will speak to the ceo of siemen

i'm kriti gupta in london. investors holding their breath ahead of the results from the chip making giant indicating the potential future of ai. jake sullivan is in china. meeting with chinese mr. wang li. bloomberg learned the bank's incoming c.e.o. is considering cutting layers of middle management when he takes charge next week. let's get a quick check on these markets. it is august. last week of august. people are away from their trading desk. you are seeing some marginal positivity. futures higher only by 1/10 of 1%. the same over at nasdaq futures. it is very slim peckings from the index levels. i want to go to the asset picture. we're on wait and see mode for the equity market for nvidia. the market is doing something a little bit wonky. this is still pricing in a lot of cuts going into september. after a very strong two-year option yesterday. the currency markets to me are really interesting cable hit another high 132 handle great for ex-pats leak myself. the cuts over in the state are pushing dollar lo

kriti gupta and guy johnson are up next with the opening trade.t futures as we head towards a cash open pointing higher. the euro stoxx 50 higher .10% -- .1%. nasdaq futures are also higher .1% it looks like that pause in the stock market rally yesterday will be over today. could we see an even more of a boost on the s&p 500. waiting for a boost to the sentiment as we look to the 10 year u.s. treasury yield, currently steady at three point percent. weaker .10%. these command concerns continuing to outweigh the geopolitical risks and traders are really mulling that equity rally that has stalls for now. if it hadn't been for the drop yesterday, you would've seen the s&p 500 hitting its longest winning streak in 20 years. will it be enough of a breather when we get back to the action today? you've got euro-dollar currently trading at 111, weaker .10%. setting the tone for the rest of the g10 currencies. we will keep an eye on the dollar as we have those fomc minutes and potentially that revision to the payrolls data. guy and greedy up next -- guy up

paul chaplin will be speaking to guy johnson and kriti gupta. plenty more on daybreak europe coming up for you. so stay with us. this is bloomberg. ♪ lizzy: welcome back to bloomberg daybreak: europe. i just want to take you through that european data that we are getting, it's a big day for a. pmi's and negotiated wages coming out of the ecb later today. the ecb reaction function, it seems, is already pivoting to focus on this slower wage growth, growth concerns as well, rather than this sticky services inflation. these are almost really important today. he to see that actually euros on manufacturing pmi's have been soft. flip the board, you can see the story of negotiated wage growth slowing at the far right of that chart. but even before all of that data, if we flip the board again, we seen the euro rising to a year to date high. you could see the momentum behind this is strong. currently we are trading at about 111, so weaker .10%. by year to date high. we will keep an eye on the euro as we head to jackson hole. starting out today we are not

this is bloomberg. ♪ guy: good morning from london on alongside kriti gupta, we are in our way from thede. what you need to know? risk rally rolls

bloomberg's kriti gupta, thank you for that analysis.to the other stories making news this morning. bloomberg understands that the top financial regulator is set to delay the next wave of bank capital reforms. it marks the latest example of a label global rule maker and abandoning its timetable for the changes until u.s. finalizes its own package. sources say that the bank of england is poised to announce in the coming days that it won't postpone its entire package until january 2026 at the earliest as it monitors international developments. dell outperforms revenue expectations as customers bought more of its gear designed to handle ai workloads. orders of ai optimized servers were 3.2 billion dollars of from $2.6 billion in the previous time. in the fiscal third quarter dell expects sales of 24 point $5 billion in line with analyst estimates. in bloomberg has also learned that nvidia has discussed joining a funding route for openai that would value the ai start about more than 100 billion dollars. apple and microsoft are also in talks

kriti gupta joins me for the latest. always a finger on the pulse of u.s. politics. official. >> it is. in the last 24 hours. the parade and pomp we were expecting out of this is limited. that tells you about this idea that it was a foregone conclusion that harris would not only clinch the nomination but be the first black woman and south asian woman to do it so this is historic for both parts of the party. what is historic will be -- what is going to be happening and she will be campaigning. will that last into september? that's when the real polling, some say, will come forward, when the initial lead may start to narrow. the question will be the vice president pick. we are waiting for that decision. reuters reporting that mark kelly may be out of consideration, narrowing it down to two names, with josh shapiro and tim walz, governor of minnesota. the emphasis i need to put his they are both governors, not senators, significant in terms of things like polling. pennsylvania has been pulling in favor of president trump despite having a democratic governor. this could

let's get the details and bring in critique group to -- kriti gupta. >> there is speculation that this is a story about the consumer. warren buffett is known to have an exposure to companies like railroads and coca-cola. this slashing he has done in other parts of his portfolio including bank of america. there is a consumer story baked in. the bank of america story -- it is a bank in the states that has a lot more consumer loan exposure than any other of some of its counterparts. that is one aspect. apple falls and the same category. it is a luxury product but a good chunk of its revenue is based on foot traffic into some of its stores. there are arguments that apple has been having a tough time getting on the ai train and getting hit by the fx exposure internationally so there is speculation that were in buffett saw this was a stock that was overvalued. if you put this in with some of the other plays he has made a could be a read on the consumer which folds in nicely with the major a selloff around the world and the stock market and specifically in japanese banks which is another warr

. ♪ kriti: good morning, i'm kriti gupta

guy johnson and kriti gupta next bringing you the opening trade.pointing slightly lower in europe. this is bloomberg. ♪