Asian stocks extended their gains into a third day, tracking advances on Wall Street as weak US consumer data lifted bets on a Federal Reserve interest-rate cut next month. MSCI's regional stock gauge rose 1.2%. Almost all of the 11 industry groups in the index advanced, with as many as three stocks gaining for every one that fell. That came after US benchmarks posted their third day of gains. Chinese equities opened steady as Alibaba Group Holding Ltd. shares fell as much as 2.8% in Hong Kong trading after its earnings. For more outlook on the markets, we spoke to William Bratton, Head of Cash Equity Research for the Asia Pacific at BNP Paribas. Plus - US consumer confidence slid in November by the most in seven months on growing anxiety about the labor market and the economy. The Conference Board's gauge decreased 6.8 points to 88.7, data out Tuesday showed. The figure was weaker than all estimates in a Bloomberg survey of economists. A gauge of expectations for the next six months declined to the lowest level since April, while a measure of present conditions slumped to a more than one-year low. And in regards to individual stock movers, Alphabet Inc. came off session highs that had driven the search giant closer to a $4 trillion valuation, after The Information reported that Meta Platforms Inc. is in talks to use Google's AI chips. Shares of Nvidia Corp., Advanced Micro Devices Inc. and Oracle Corp. remained lower. We get perspective from Jim Worden, CIO, The Wealth Consulting Group.See omnystudio.com/listener for privacy information.
US President Donald Trump and Chinese President Xi Jinping on Monday held their first talks since agreeing to a tariff truce last month, discussing trade, Taiwan and Russia's invasion of Ukraine. Trump said the telephone call was "very good" and that the leaders spoke about purchases of soybeans and other farm products as well as curbing shipments of illegal fentanyl. The US president said he agreed to visit Beijing in April, and that he had invited Xi for a state visit next year. "Our relationship with China is extremely strong!" Trump posted on social media. "There has been significant progress on both sides in keeping our agreements current and accurate. Now we can set our sights on the big picture." But the US president's readout of the call sidestepped one issue — the self-governing island of Taiwan — that was a central focus for Xi. The Chinese leader told Trump that the return of Taiwan to China is a key part of the post-World War II international order, according to a Chinese Foreign Ministry statement. Xi also said the two countries should keep the positive momentum generated during their meeting last month in South Korea and expand cooperation, the statement said. There is a lot to be said about artificial intelligence. Nvidia reported earnings last week that beat analyst expectations. Also, the White House says President Trump is weighing whether to allow Nvidia Corp. to sell advanced artificial intelligence chips to China and will be the one to make a final decision on the matter. For more on the AI trade, we speak to Ritesh Ganeriwal, Syfe's Head of Investment and Advisory. Plus: Investors are boosting bets on the Federal Reserve cutting rates next month. For more, we spoke to Rob Haworth, Senior Investment Strategy Director, U.S. Bank Asset Management Group.See omnystudio.com/listener for privacy information.
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Early Talks on Nvidia H200s to China, Week Ahead for Markets
US officials are having early discussions on whether to let Nvidia sell its H200 artificial intelligence chips to China, according to people familiar with the matter. Helen Zhu, Managing Partner and CIO at NF Trinity, recaps last week in the AI trade, and the current the appetite for risk assets. Plus, markets are looking ahead to more shutdown-delayed data and the Fed's Beige Book survey. Grace Glockner, Director of National Accounts & Investment Team Member at Scharf Investments, discusses the AI trade, the recent consumer sentiment data, and how "Steady Eddie" companies are shaping her outlook for the New Year.See omnystudio.com/listener for privacy information.
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Daybreak Weekend: Retail Preview, UK Budget, China PMI
Bloomberg Daybreak Weekend with Host Nathan Hager takes a look at some of the stories we'll be tracking in the coming week. In the US – a look ahead to earnings from Dell, Kohl’s Abercrombie & Finch, and retail ahead of the holiday season. In the UK – a look ahead to the UK's highly anticipated autumn budget. In Asia – a look ahead to China PMI data. See omnystudio.com/listener for privacy information.
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Takaichi and Japan Inflation, Nvidia's S&P Gains Evaporate
Japan's inflation ticked up in October, and the BOJ may be on track for a rate hike. Masa Takeda, Portfolio Manager at the Hennessy Japan Fund, discusses how Prime Minister Sanae Takaichi's economic package could address inflation. Plus, the S&P closed lower with morning gains from Nvidia earnings evaporating. Adam Coons, Chief Investment Officer at Winthrop Capital Management, talks today's trading.See omnystudio.com/listener for privacy information.
Join Bloomberg Daybreak Asia for business and finance news centered in the Asia-Pacific region, along with insight and analysis on the day's top stories in global markets.
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