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Wall Street Traders Jolted as US, China Trade War Flares
Bloomberg Television· 2025-10-10 18:11
But as you look at the Bloomberg screen and let's say for the public for the balance of power public they don't know dollar yen from Naki stocky you look at the Dow negative 400 S&P down 1.3% NASDAQ hit down 1.8% 8% but I'd look also the way oil has pulled back. See American oil under 60 a barrel 58 handle on uh NYX crude global oil 60278 has come down $7 from a 70 level of a number of weeks ago. And then another way to look at it Joe is like the proway where we look at cross rates. And the first one I look ...
NYC Jewelers Are Rushing to Cash In on Gold’s Rally
Bloomberg Television· 2025-10-10 17:54
Gold prices are soaring and this is being felt in Manhattan's Diamond District. >> Bullion has now jumped more than 50% this year in the face of rising trade and geopolitical uncertainty. >> Gold is trading above $4,000 an ounce for the first time ever.So investors are now taking the opportunity to sell everything from family heirlooms to jewelry for cash. But shop owners like Albert are saying many speculators are holding. I do see uh consumers hedging at the moment but you know again I see both sides peop ...
White House Starts Firing Workers During Shutdown
Bloomberg Television· 2025-10-10 17:53
Layoffs and Workforce Impact - Thousands of federal workers are expected to be laid off, with the reductions in force having begun [1][2] - Approximately 750,000 federal workers are expected to be furloughed, raising concerns about permanent firings [5] - Only about 20% of the federal workforce is located in Washington DC, indicating a nationwide impact [4] Economic Impact of Shutdown - If the shutdown extends into a third week, the unemployment rate could increase to 47%, as furloughed workers are counted as temporarily unemployed [5] - Many federal workers have missed their first paycheck, and members of the military might miss their paycheck on October 15th [7] Political Standoff - Both sides believe they have the upper hand, creating a unique logjam [6] - Republicans and the White House are firm on not negotiating until the government reopens [8]
Trump Threatens 'Massive' Tariffs on Goods From China
Bloomberg Television· 2025-10-10 16:57
So, Tyler, back up a little bit here and give us some context for this post. Right, Exactly, Scarlett. So in recent days, we actually have seen Beijing move to unveil some new export curbs when it comes to critical and rare earth minerals, expanding both the elements and the technology on its control list.It's also a move to require overseas exporters of items that have even trace trace amounts of Chinese source critical minerals in them to apply for separate export licenses. And that is considered to be a ...
Ferrari, Porsche Slide on Outlook
Bloomberg Television· 2025-10-10 16:43
When you look at, you know, how Ferrari has traded relative to its peers, particularly over here in Europe, it's just incredible. I mean, the rise that you've seen since the listing in early 2016, the stock listed a little bit earlier in the US, but this is a name that just has been sort of reliably up, up and up over the years. And, you know, I think going into this Capital Markets Day, you saw analysts as bullish as they had been in half a decade.A lot of optimism that surely they were going to have posit ...
Speaker Mike Johnson, Minority House Leader Hakeem Jeffries on the Shutdown
Bloomberg Television· 2025-10-10 16:42
The clean C. R. is so simple.Joe is 24 pages in length. It has exactly zero Republican policy riders on it. We made it so simple.We just said, do what you've always done. Let's keep the lights on and keep the appropriations and the negotiation process going. They refused to do it because, again, they want to show a fight because they can't stand President Trump.That's what this is. And in the meantime, American people are being used as pawns in this game. They've refused to negotiate at every step of the wa ...
Dollar Stabilization Takes Shine Off Gold
Bloomberg Television· 2025-10-10 16:37
Dollar Strength & Uncertainty - The strong dollar bet earlier in the year was based on U S policy uncertainty and reserve managers rotating out of the dollar [1] - Political and policy uncertainty in Europe (e g, France) and Japan are contributing to a strong dollar narrative [2] - The dollar's previous appreciation over 13 years reached unsustainable levels, making a return to February/March levels unlikely [4] Yen Weakness & Market Impact - A weaker yen benefits the operating margins of Japanese multinational stocks, particularly those selling high-value industrial products [5] - Recent yen weakness, driven by political turmoil, has correlated with a strong stock market performance in Japan [6] - The yen's weakness is perceived more as a reaction to central bank policy speculation than a reflection of fundamental economic weakness in Japan [6] Federal Reserve & Interest Rate Policy - The Federal Reserve has sufficient third-party and internal data to make informed decisions, even during a government shutdown [8][9] - Current interest rate policy in the U S is not considered overly restrictive, given the stock market highs, gold prices, and corporate bond spreads [10] - A Federal Reserve rate cut would likely be reluctant, considering the financial market performance [11] - The September rate cut was viewed as an "insurance cut," not necessarily signaling a prolonged series of rate cuts [12][13]
Trump Threatens ‘Massive Increase’ of Tariffs on Chinese Goods
Bloomberg Television· 2025-10-10 16:37
US-China Trade Relations - The US and China are engaging in discussions regarding export controls on semiconductors/AI chips and rare earth/critical minerals/permanent magnets respectively, highlighting mutual dependence [1] - China has implemented export controls on rare earth and permanent magnets, specifically targeting the equipment used in their production [2] - The US acknowledges the importance of rare earths while suggesting China relies on US products, indicating potential negotiation [3][4] - China's previous retaliation to US tariffs involved explicit export controls on rare earth magnets [5] - China is aware of its leverage in trade negotiations with the US [6] Semiconductor and AI Industry - The US holds a lead in AI chip manufacturing, an area China aims to develop [7] - China seeks access to US chips and views export controls on rare earths as leverage to convince the US to lift restrictions on AI chips [7] - Revenue sharing from Nvidia and AMD chips is a point of discussion [7] Geopolitical Strategy - Face-to-face meetings between leaders, such as a potential meeting between President Trump and President Xi, are considered critical for easing tensions and facilitating pointed conversations [7][8][9] - Public statements and actions from both sides can be interpreted as negotiating tactics [4][5]
China Has Too Much Leverage Over US, Says Anduril's Luckey
Bloomberg Television· 2025-10-10 16:31
ED: THE PRESIDENT'S TRUE SOCIAL POST I'M GUESSING WAS SCHEDULED FOR 11:00 A. M. WE DO NOT KNOW HE SAID HE INTENDED TO MEET WITH XI IN TWO WEEKS BUT DOUBT IS NOT SEE A REASON TO DO SO.HE THREATENED TO INCREASE TARIFFS ON CHINESE GOODS AND SAID CHINA IS BECOMING INCREASINGLY HOSTILE. WHEN WE MET IN JANUARY YOU OPEN THE CONVERSATION WITH THE FORECAST ON WHERE YOU FELT THE RELATIONSHIP BETWEEN THE U.S. AND CHINA WAS GOING. WHERE YOUR RIGHT. -- WERE YOU RIGHT.PALMER: I THINK SO. IT IS TRUE WHEN IT COMES TO SEMI ...
How World's Best Bar Is Keeping Customers Happy
Bloomberg Television· 2025-10-10 16:00
It is, of course, Friday. And if you are feeling thirsty, well, seems like you could be doing a lot worse than heading to Bar Leone, which is an Italian theme outlet that's just been named the world's very best. It's the first time an Asian venue has taken the crown, and this one is only about three years old.So joining us now is Bar Leone co-founder Lorenzo Antinori in studio with us. So we were just talking there in the in the break about the process and you weren't sure if you would make it to number one ...