Tesla & Elon Musk - Incentives are well aligned, and if Elon Musk and his team deliver a 41% compound annual growth rate for EBITDA over ten years, the stock is expected to outperform enormously [1] - Prediction markets indicate a high probability (90-95%) of a proposal passing [2] - Elon Musk's departure five or three years ago would have significantly impacted the progress of robotaxis and AI projects [3] - Elon Musk's brilliance and the team he has attracted are considered necessary to capitalize on humanoid robots [4] - Elon Musk is considered the right leader to bring the humanoid robot story to life [5] - The company would be less confident in building the humanoid robot part of the model without Elon Musk as CEO [6] Robotaxis & Humanoid Robots - The company's $600 price target for 2030 is based on 90% robotaxi valuation, with very little attributed to humanoid robots [4] - Robotaxis are considered robots, electric, and AI-powered, providing a running start for humanoid robot development [5] Market Skepticism & Investment Strategy - The speaker is happy about the current skepticism in the tech sector, contrasting it with the lack of skepticism in the late 1990s [8] - The speaker views the skepticism as an opportunity to build the portfolio [11] - Life sciences/healthcare is considered the most undervalued part of the portfolios due to the profound application of AI [11] - The company is focused on technologies first and how they will scale across sectors [13]

Job Cuts Analysis - October job cut announcements reached 153,074, the highest since 2003 [1] - Job cuts increased by 183% compared to September [1] - Job cuts increased by 175% year-over-year [1] - Year-to-date job cuts are the highest since June 2020 (COVID period) [2] - Job cut data is compiled from companies' announced plans, not actual realized cuts [2][3] Hiring Trends - Announced seasonal hiring plans are the lowest since tracking began in 2012 [4] Considerations - Job cut announcements may not always translate into actual job losses due to attrition [3] - Job cuts can take months to materialize, as seen with Amazon's 90-day notice [3] - Job cut figures are worldwide, not limited to the U S [3]

>> NEWSMAKERS AND MARKET MOVERS, THIS IS "THE PULSE WITH FRANCINE LACQUA. " FRANCINE: GOOD MORNING, EVERYONE. WELCOME TO "THE PULSE. " THE U.S. SUPREME COURT APPEARS SKEPTICAL PRESIDENT TRUMP'S SWEEPING GLOBAL TARIFFS AS JUSTICES SUGGESTED HE HAD OVERSTEPPED HIS AUTHORITY WITH SIGNATURE ECONOMIC POLICY. IN THE HEARING YESTERDAY, THE COURT HINTED IT WAS READY TO PUT SIGNIFICANT LIMITS ON TRUMP'S FAR-REACHING AGENDA. LET'S GET YOU BRENDAN MURRAY THE OUR TRADE COVERAGE HERE. TO TARIFFS OR NOT TARIFF, I THOUGHT ...

市场趋势与行业动态 - 亚洲股市从四月份以来最大两日跌幅中反弹，逢低买入者回归，此前对估值过高的担忧有所缓解 [1][48] - 美国最高法院对特朗普总统的全球关税表示怀疑，暗示其可能越权 [1][7][49] - 科技股回调引发市场抛售，但对人工智能的乐观情绪依然存在 [16][20] - 美国十年期国债收益率大幅走高，达到 4.15%，财政部暗示可能增加供应 [4][51][95] - 美国经济状况依然强劲，企业盈利表现良好，标普 500 指数近 80% 的公司报告盈利，同比增长 12%，每股收益超出预期 6% [22] - 沙特阿拉伯下调对亚洲的官方售价，并持续关注美国库存的增长 [5][52] - 美元走强，测试 200 日移动平均线，为一年来首次 [6][53] - 尼日利亚重返全球债务市场，通过债券销售筹集 20 亿美元 [39] - 刚果共和国重返全球债务市场，以 13.7% 的收益率出售 6.7 亿美元债券 [42] - 中国将取消对美国农产品的关税，并解除对美国公司的出口限制 [46] 投资机会与潜在风险 - 最高法院对特朗普关税的质疑可能导致关税重新评估和退款 [3][50][51][96] - 估值过高并非股市大跌的唯一原因，需要更大的负面催化剂 [26][27] - 预计标普 500 指数年底将达到 7000 点或接近该水平 [27] - 英国央行预计将维持利率不变，关注即将到来的预算和疲软的数据 [2][49][79][81] - 预计利率下调和市场流动性增加将推动市场上涨 [28] - 卡塔尔计划向埃及投资 35 亿美元，开发旅游景点和高尔夫球场 [64][71] 公司财务表现 - ARM 预计第三季度销售额将达到 13 亿美元，超过预期，人工智能技术需求强劲 [29] - 高通公司对本季度给出了乐观的预测，称销售额已达 120 亿美元，对高端安卓芯片的需求依然强劲 [29] - 土耳其航空公司指责发动机制造商垄断并抬高价格，利润率超过 25% [44][75] - 国泰航空宣布将从卡塔尔航空回购股份，表明对香港航空枢纽地位的信心 [78]

Market Trends & Global Economy - Asian stocks rebounded, tracking Wall Street's gains, with dip buyers capitalizing on tech weakness [1][7] - Uncertainty surrounds potential limits on President Trump's global tariff agenda by the U S Supreme Court [1][18] - The U S government shutdown, now at 37 days, is impacting flights and raising concerns about economic consequences [22][23][24] Bank of England (BOE) Rate Decision - The Bank of England is likely to hold interest rates steady at 4%, ending a series of quarterly reductions [11] - Analysts anticipate a split decision on rates, possibly 6-3, hinging on Governor Andrew Bailey's stance [12] - Focus is on how long the hold will last and how the Governor characterizes the 3 8% inflation rate [15] Commerzbank Performance & Strategy - Commerzbank's third-quarter revenue slightly missed estimates at 2 5 billion euros, but net interest income reached 8 2 billion euros [2][3] - The bank raised its outlook for full-year net income to approximately 2 5 billion euros [3] - Commerzbank is initiating a 600 million euro share buyback program and is open to discussing potential combinations with UniCredit, provided a formal proposal is presented [74][76] Zurich Insurance Financials - Zurich Insurance's gross written premiums in its Property and Casualty (P&C) unit increased by 8% to a record 39 billion in the first nine months of the year, while Life and Health premiums rose by 11% [28][30] - The company is confident in achieving its financial targets, including an EPS compound growth above 9% over the three-year period and an ROE illustrating above 23% [35][36] - Zurich Insurance remains strategically interested in offloading a $20 billion book, despite a previous deal falling through due to regulatory issues [40][42] Technology & AI - Pony AI CEO discussed the company's global footprint in robotaxi services, with a focus on regulatory progress in the Middle East, particularly the UAE [43][45] - Pony AI has deprioritized commercialization in the U S due to geopolitical concerns and data-related issues, pausing plans for now [46] - A German AI language platform, seen as a rival to Google Translate, has unveiled new AI tools for office efficiency and is considering a potential IPO [57][58][64] Other Company Earnings - Continental's third-quarter adjusted earnings decreased by 15% year-on-year to 555 million euros, with a softer margin story [51][52] - Rheinmetall, a key player in the defense sector, reported operating profit up almost 20% year-on-year to 835 million euros for the first nine months, confirming its 2025 outlook [52][54]

JOHANNESBURG. A LOOK AT THE OTHER STORIES. NIGERIA RETURN TO THE GLOBAL DEBT MARKET, RAISING $2 BILLION IN A BOND SALE IS INVESTOR APPETITE FOR AFRICAN DEBT SURGES.THE SIGNALS CONFIDENCE THE REGION'S ECONOMIES WITH COUNTRIES LIKE KENYA AND ON GOLA -- ANGOLA ARE ISSUING BONDS. . THE NIGERIAN OFFERING WAS DELAYED AFTER DONALD TRUMP THREATENED MILITARY ACTION FOR WHAT HE CLAIMED WAS THE NIGERIAN GOVERNMENT'S FAILURE TO PREVENT SYSTEMATIC KILLINGS OF CHRISTIANS. IN A NEW VIDEO THE PRESIDENT SAID THE U.S. WILL S ...

The US Supreme Court is signaling skepticism of President Trump's global tariffs, with key justices suggesting he had overstepped his authority. The vehicle is imposition of taxes on on Americans. And that is always been the core power of Congress.So to have the President's foreign affairs power trump that basic power for Congress seems to me to kind of at least neutralize between the two powers, the executive power and the legislative power. Bloomberg Managing Editor Jill Disis now joins us now from Hong K ...

The big news this week, corporate in corporate China, right. You remember Starbucks and the issues they're having there with their foreign units. In fact, when you look at the opposite, some of the success stories, Lululemon, when you look at their specific China unit and the amount of growth they've seen throughout the year is expected into the next few years.So from about early 2020 to $400 million into the expected close to 2 billion off the China business, that's about a5x growth just over five years. R ...

>> THIS IS "BALANCE OF POWER," LIVE FROM WASHINGTON, D.C. JOE: FROM BLOOMBERG'S WORLD HEADQUARTERS IN NEW YORK TO OUR TV AND RADIO AUDIENCES GLOBALLY, WELCOME TO "BALANCE OF POWER. " I AM JOE MATHIEU. THE PRESIDENT'S TARIFF AUTHORIZATION HANGS IN THE BALANCE. >> IS IT YOUR CONTENTION THAT EVERY COUNTRY NEEDED TO BE TARIFFED BECAUSE OF THREATS TO THE BASE? SPAIN, FRANCE? JOE: SKEPTICISM FROM THE HIGHEST COURT IN THE LAND AS JUSTICES HEAR ARGUMENTS. WHAT THE JUSTICES SAID THAT MADE BETTING MARKETS LEAN TOWARD ...

What do you think of last night's result there. >> Well, I mean, for the people of New York, I pray that the policies that Mandami uses to govern and lead New York are different than the talking points he used to win the mayoral race. The people of New York deserve better.>> And do you think it maybe leads to an exodus down here. >> Right. And so if I look at Miami and I look at why Miami is so successful, the focus on education, the focus on public safety, these are safe streets.We live in a safe city, the ...