Donald Trump is demolishing the entire East Wing of the White House to build a $200 million ballroom at the property, a senior White House official said, a move that exceeds the original scope of the project as described by the president. -------- More on Bloomberg Television and Markets Like this video? Subscribe and turn on notifications so you don't miss any videos from Bloomberg Markets & Finance: https://tinyurl.com/ysu5b8a9 Visit http://www.bloomberg.com for business news & analysis, up-to-the-minute ...

Starting Oct. 23 at 9 am ET - The Evident AI Symposium brings together 300 banking and insurance executives, innovators, and policymakers for a day of high-impact discussions on AI adoption in financial services, all fueled by data from the Evident AI Index. Together we’ll ask the practical questions that really matter for AI adoption in financial services. ...

And right now we are 2 minutes away from the end of the trading day. Romaine Bostick alongside Katie Greifeld, taking you through to that closing bell with a global simulcast that starts now. Carol Massar Tim Stenovec it back there.Join us from the radio booth. Welcome to our audiences across all of our Bloomberg platforms, including our partnership with YouTube. A slew of big earnings Carol Massar are coming after the bell tonight, including from IBM and Tesla.Yeah, big earnings, right. And they're just go ...

Tesla Valuation - The core automotive and energy business of Tesla is valued at approximately $150 per share, based on an estimated $2 in earnings with a multiple of 75 [2] - The remaining stock price is attributed to expectations surrounding robotics and full self-driving technologies, estimated at around $300 per share [3] - The valuation is heavily reliant on future potential rather than current reality [3] Strategic Focus - The company currently holds over $80 million worth of Tesla stock for clients [1] - The analysis suggests Tesla should prioritize its profitable core EV business [5] - There are concerns that Tesla is neglecting its EV business, which is considered a strategic error [6] - The transition to robotics may take a long time to become profitable [5] - Focusing on selling cars and improving the company's image could be a better use of time during the transition [6]

AI is is the displacement of this cycle, right. If the internet was was the displacement idea of the 90s, certainly it's AI right now. I'd rather be long the companies that are producing the magic from the chips than the landlords of where the chips reside.Right. So, if this is going to truly be revolutionary, and it probably will be, um, I think you're going to have to see stuff coming out of the hyperscalers and open AI and and real really interesting applications that can be monetized. I think a lot of i ...

Market Analysis & Gold's Valuation - Gold is significantly extended versus moving averages, suggesting a potential 20-25% drawdown from its peak would be normal [1] - The rapid increase in gold's price is concerning, especially when other markets underperform, indicating potential market instability [2][3] - Gold's high valuation suggests it is overbought, and investors should not be actively seeking to buy it [7][8] - Central banks may curtail their gold buying around $4,000/ounce due to elasticity, impacting market dynamics [6][7] Economic Indicators & Potential Risks - Gold's behavior may signal upcoming stock market volatility, as indicated by low 90-day volatility volume of 89% a few weeks ago, the lowest in five years [3] - Declining crude oil prices and bond yields, coupled with potential stock market declines, could accelerate existing trends, suggesting deflationary risks [4][3] - The increase in total gold reserves held by central banks surpassing US dollar reserves is partly due to the price increase [9] Technical Analysis & Support Levels - In 2006, gold corrected about 25% after stretching above its 200-day moving average, before resuming its upward trend [11] - A normal correction from the current extreme gold price would be around 20%, targeting a support level of $3,500, which was the previous peak [13] - While $4,000 is the first dip, it's not near the normal correction range of 20-30% for such a stretched market [14]

Government Shutdown & Healthcare Crisis - The document expresses concern over a potential year-long continuing resolution (C R) and the impact of government shutdowns on healthcare affordability [1][3][5] - Democrats are pushing for reopening the government and extending Affordable Care Act premium subsidies to prevent healthcare cost increases, citing examples of families facing significant premium hikes, such as a $1200 monthly increase for a family of five [5][11] - The debate includes a potential trade-off: Democratic votes on a continuing resolution in exchange for Republican negotiations on extending Obamacare premiums [7][8] - The core issue is a lack of trust, with Democrats hesitant to believe Republicans will follow through on promises regarding healthcare negotiations [8][12] Venezuela & Drug Trafficking - The document criticizes the current administration's strategy of addressing drug trafficking by "blowing up" boats, arguing it doesn't lead to arrests or stop the drug trade effectively [15] - The main drug route into the United States is identified as being through Mexico, not Venezuela [16][22] - The administration's actions in Venezuela are described as a "distraction" that ultimately benefits Maduro's regime by allowing oil proceeds to flow into his coffers [17][18] - Lifting sanctions on Venezuela allows oil sales, which financially supports Maduro, who is considered an illegitimate president [18][19] - Instead of alienating Latin American leaders, the U S should engage them to establish democracy in Venezuela [21] White House Construction & Priorities - The document raises concerns about the construction of a ballroom at the White House, questioning whether proper permissions were obtained [24] - The president is accused of focusing on raising millions of dollars from billionaires for the ballroom and seeking reimbursement for personal legal expenses, rather than addressing critical issues like reopening the government and the healthcare crisis [26] - Leaving the country during a government shutdown is described as unprecedented, suggesting a misplaced priority on foreign policy over domestic issues [27]

Government Funding & Stability - Discussions in Washington DC suggest a continuing resolution (CR) extending to December 1st, potentially providing stability for the economy and the American people [1][2] - A longer-term CR until December 1st is supported to provide more stability for the economy and the American people [2] - A continuing resolution extending to December 21st, 2026 has been suggested [3] Political Context - Concerns exist about political games in the House and Senate potentially jeopardizing government operations [1] - The government is currently operating under a year-long resolution from the previous year [3] - The current resolution is based on appropriations made when Biden was in office [3]

I don't think that is going to be as pronounced as people say. I hear people out there talking about 20, 30, 40, 50% of the workforce going away. I think we're going to peacefully exist.In fact, I think AI will allow us to reskill, upskill, and revive skills that were missing in the enterprise today. And it will drive that step function change in human productivity. Today, Danny, >> employees are nervous their jobs are going away because of AI and they feel like they're competing against AI.And I think that ...

They have half a business, they write. So it doesn't look like I don't think is necessary for them to put the package ahead of it. Actually, I think or it's necessary is that you have a plan and you execute and you you're supporting Argentina. I think it's pretty.If you'd have asked me a month ago that if whether or not the Treasury of the United States would be talking about a $40 billion package to Argentina, I'd have said no way. It's almost unprecedented. We've seen the US supporting Mexico during the T ...