Joining me now, CNBC Washington correspondent Megan Cassella and Von Hillyard is back with me. Decided to stick around. Thanks, Von. And thank you, Megan. Um, what is in this deal for the EU? Why, why take it? >> That's a key question, and it's not a lot that's in there for the EU, and we've actually heard member states complaining about that today, complaining about their commission president for making this deal. One thing they do get, 15% tariffs, very substantial, but better than it could have been. We' ...

Consumer Spending & Economic Outlook - Consumer spending data for June is crucial, with expectations of a soft patch, already evident in retail sales data [1] - Service sector spending, including airlines, hotels, and restaurants, also shows signs of weakness [2] - Demand was pulled forward in anticipation of tariffs, and price increases are impacting consumer spending [3] - There's a bifurcation in consumer behavior, with higher-end consumers and businesses faring better than lower-end consumers who are squeezed by tariffs [5][6][7] Trade & Tariffs - American protectionism is damaging the global economy, potentially reaching a $2 trillion hit by the end of 2027 relative to the pre-trade war path [8][9] - The effective tariff rate is around 17%, the highest since the 1930s, acting as a headwind to global growth [10] - Tariffs are a regressive tax on consumers [7] Capital Spending & Tax Legislation - Tax legislation provides significant accelerated depreciation for capital spending, potentially boosting corporate cash flow [11] - Companies like AT&T, Verizon, T-Mobile, and United Rental have indicated that the tax legislation supports their cash flow [12] - Capital spending is underappreciated for its role in creating productivity, profitability, and lifting potential GDP growth [13] - Full CapEx depreciation for 80% of CapEx will be a significant boost to cash flow [11] Monetary Policy & Labor Market - The Fed may not need to cut rates further, as previous rate cuts and tax measures are already providing stimulus [23][24][25] - Improvement in corporate profits into 2026 is expected to lead to a stronger labor market [20] - Capital spending improves profitability through productivity, incentivizing spending on jobs and wages [17]

[Music] Hello and welcome to Market Domination. I'm Josh Lipton live from our NYC headquarters on this last trading day of the week that saw record-breaking highs. Investors, they're gearing up for a magnificent seven earnings and keeping a watchful eye of course on what's to come between the US and China and those trade talks. There's just an hour to go until the closing bell and right now the popular averages they're showing green. We got the Dow up about 200 points. The S&P 500 up about half a percent. Y ...

Michael Arrone is chief investment strategist at State Street Investment Management. They have a cool 5 trillion in assets under management. Why, Michael, is nothing stopping this market.So, I think there's a few things. Certainly, you're going to see improvement on trade. So, more trade deals keep getting announced.I think USMCA will be negotiated later this year. And Canada and Mexico are in great shape on trade deals. So, that's improving.you get a free cash flow uh windfall from the one big beautiful bi ...

Trade deals are great, but interest rates are still way too high. ...

We are the United States of America and people really thought other countries weren't going to give us better trade deals if we demanded them.Ridiculous. ...

>> WELCOME TO BLOOMBERG MARKETS, I AM SONALI BASAK. WE HAVE GREEN ON THE SCREEN FOR THE DAY. WE ARE NEAR SESSION HIGHS, UP ALMOST 4/10 OF 1% ON THE S&P 500. THE VOLATILITY IS LOW. A VIX AT A 15 HANDLE. IT MAKES GOOD NEWS FOR THE IPO MARKET THAT'S STARTING TO COME BACK. THE 10 YEAR YIELD BELOW FOUR POINT 4%, BUT ONLY AT 4.39%. WE HAVE BEEN WATCHING THE BOND MARKET CLOSELY, PARTICULARLY AT THE LONG END. THE U.S. DOLLAR IS GETTING A LIFT THIS AFTERNOON. .4 PERCENT HIGHER. PRESIDENT TRUMP IS ON HIS WAY TO SCOTL ...

🇺🇸 TRUMP: Says most trade deals will be done by August 1. https://t.co/YkF5Nk9Ylt ...

Market Overview - Asian markets closed down, influenced by nervousness surrounding the August 1st debt trade deadline [3][4] - European markets are generally subdued, with the UK's Footsie 100 falling from recent record levels [4] - US futures show a more positive outlook, potentially influenced by President Trump's softened stance on the Fed Chair [8][9] Trade and Tariffs - The US and UK are refining a recent trade deal, including a pledge to remove 25% tariffs on UK steel and aluminum, while the rest of the world faces a 50% tariff [4][5] - The European Union believes a deal with the US is within reach, potentially involving a 15% levy, but the 50% levy on steel and aluminum may remain [6] - Volkswagen lowered its financial outlook due to escalating costs from US tariffs, adding $15 billion to costs in the first half of the year [17] - Kia's operating profit in the second quarter slumped by $570 million due to US tariffs, with warnings of a potentially bigger impact in the second half of 2025 [19] Federal Reserve and Interest Rates - President Trump seemed to soften his stance on Fed Chair Jerome Pal after a meeting, which investors took positively [9] - The Fed is expected to keep rates on hold at the next meeting, despite President Trump's desire for rate cuts [9][10] - There are concerns about the Fed's independence, particularly regarding the selection of the next Fed Chair, with potential pressure to cut interest rates [13][14] - The current inflation rate is above the Fed's target of 2%, with potential for it to rise in the coming months [16] Company Specific News - The US regulator approved the $84 billion merger of Paramount and Sky Dance [6] - Puma's shares sank more than 18% after posting a 2% decline in sales for the second quarter to $227 billion, citing the impact of US tariffs [37] - LVMH's shares jumped after analysts suggested the worst is likely over for the luxury group, despite a 4% fall in revenue in the first half to 398 billion euros (approximately $47 billion) [39] - Intel's shares fell after reporting mixed second-quarter results, with revenue of $128 billion beating estimates but announcing a loss of 10 cents per share [41] Investment Strategies - Cyclical stocks are soaring, while defensive stocks are lagging [23] - Defensive sectors now make up only 20% of the S&P 500, while Nvidia and Microsoft alone account for 15% [28][29] - Open Door is presented as a turnaround story rather than a meme stock, with potential for significant gains [51][60]

💥BREAKING:TRUMP SAYS MOST TRADE DEALS WILL BE DONE BY AUGUST 1ST, IF NOT ALL. https://t.co/kF5qznTv7A ...