Bloomberg Television·2026-08-03 06:41Geopolitical Impact and Commodity Markets - Oil prices slumped and Brent crude dropped significantly at the open while gold saw gains following diplomatic developments and expectations of reopening the Strait of Hormuz [2][5][18] - Goldman Sachs projected Brent oil prices averaging 80 dollars a barrel and WTI at 70 dollars a barrel in the fourth quarter, with worst-case scenarios reaching 120 dollars a barrel this year and 100 dollars a barrel next year if flow recovery is delayed [27][30] - China's EV adoption surpassed 60% of total automotive shares and strategic inventory building provided market flexibility during disruptions [32][33] - Goldman Sachs expected gold prices to reach 4,900 dollars by the end of the year, supported by structural central bank reserve diversification following asset freezes [38][39] Technology and Pharmaceutical Sectors - Alibaba released a new model with 2.4 trillion parameters while DeepSeek cut its input and output token prices by up to 50% amid intense competition [46][48] - Bloomberg Intelligence warned that the AI sector may remain unprofitable for the next three years due to intense price competition [51] - Daiichi Sankyo expected its innovative antibody-drug conjugate (ADC) products to be exempted from proposed U.S. tariffs on generic medicines and anticipated no negative bottom-line impact from exchange rate fluctuations at a 155 yen to one U.S. dollar forecast [62][64][66] Foreign Exchange and Insurance Markets - The U.S. and Japan conducted their first joint currency intervention in 15 years, leading to a 5% rally in the yen and prompting traders to unwind carry trades [53][56][57] - Prudential maintained a long-term investment strategy focused on Asia's underinsured markets, energy transition, and infrastructure while pursuing majority control in an Indian insurance operation with an investment of half a million dollars [85][90][95]