The stocks of Walmart Inc. and Costco Wholesale Corp. may represent a risk due to their high valuation, with forward price-earnings ratios of 34.3 times and 47 times, respectively. That's according to Bloomberg Opinion markets columnist Jonathan Levin, who writes that the "perception of safety has inflated the retailers' valuations, as investors believe they can't go down, which paradoxically puts them at a heightened risk of correction."

Jonathan discusses the implications of that trend as well as his thoughts on Federal Reserve Chair Jerome Powell's response to President Donald Trump's pressure on the central bank with Tim Stenovec and Isabelle Lee on Bloomberg Businessweek Daily.

The stocks of Walmart Inc. and Costco Wholesale Corp. may represent a risk due to their high valuation, with forward price-earnings ratios of 34.3 times and 47 times, respectively. That's according to Bloomberg Opinion markets columnist Jonathan Levin, who writes that the "perception of safety has inflated the retailers' valuations, as investors believe they can't go down, which paradoxically puts them at a heightened risk of correction."
Jonathan discusses the implications of that trend as well as his thoughts on Federal Reserve Chair Jerome Powell's response to President Donald Trump's pressure on the central bank with Tim Stenovec and Isabelle Lee on Bloomberg Businessweek Daily.

Carol Massar and Tim Stenovec bring you reporting from the magazine that helps global leaders stay ahead, plus insight on the people, companies and trends shaping today's complex economy.  Watch us LIVE on YouTube: http://bit.ly/3vTiACF.

Carol Massar and Tim Stenovec bring you reporting from the magazine that helps global leaders stay ahead, plus insight on the people, companies and trends shaping today's complex economy.&nbsp; Watch us LIVE on YouTube: <a href="http://bit.ly/3vTiACF">http://bit.ly/3vTiACF</a>.

Carol Massar and Tim Stenovec bring together the latest news from the world of business and finance and the interesting stories of global technology, politics, economics and more by harnessing the power of Bloomberg Businessweek reporters and editors.

Bloomberg Businessweek

ICYMI: Why Leading Retailers' Valuations Look "Scarier" Than Nvidia's

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/c8048b9c-b422-4227-a5f4-b3460177fd52/transcript

Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.

Wall Street traders sent stocks lower as inflation data failed to alter bets on a pause in Federal Reserve rate cuts while JPMorgan Chase & Co. led a slide in banks after its results. Bonds wavered. The dollar rose.

Signs that price pressures are gradually abating gave a degree of comfort to investors in the immediate aftermath of the data, but the moves across asset classes waned as the session progressed. The S&P 500 fell from a record. JPMorgan sank 4.2% as investment-banking fees missed the guidance, with revenue from both underwriting and advising on mergers dropping.
Not even a slower-than-expected increase in the core consumer price index was able to sustain the advance in Treasuries that followed the data. After Fed Chair Jerome Powell and his colleagues deployed three rate cuts since September, money markets continued to project the next reduction only in mid-2026.

Today's show features:
Chris Whalen, Chairman of Whalen Global Advisors, on JPMorgan Chase earnings and the global banking sector
Matthew Luzzetti, Chief US Economist and Head of US Economic Research at Deutsche Bank, on the latest US CPI print and challenges to Federal Reserve independence
Savanthi Syth, Managing Director for Airlines and Advanced Air Mobility with Raymond James, on Delta’s quarterly earnings and the airline sector outlook
Bloomberg News Senior Editor, Equities Americas Eric Weiner on the Tuesday trade and Bloomberg Economics US and Canada Economist Stuart Paul on key data and the Federal Reserve

Watch Carol and Tim LIVE every day on YouTube: <a href="http://bit.ly/3vTiACF">http://bit.ly/3vTiACF</a>. Wall Street traders sent stocks lower as inflation data failed to alter bets on a pause in Federal Reserve rate cuts while JPMorgan Chase &amp; Co. led a slide in banks after its results. Bonds wavered. The dollar rose. Signs that price pressures are gradually abating gave a degree of comfort to investors in the immediate aftermath of the data, but the moves across asset classes waned as the session progressed. The S&amp;P 500 fell from a record. JPMorgan sank 4.2% as investment-banking fees missed the guidance, with revenue from both underwriting and advising on mergers dropping. Not even a slower-than-expected increase in the core consumer price index was able to sustain the advance in Treasuries that followed the data. After Fed Chair Jerome Powell and his colleagues deployed three rate cuts since September, money markets continued to project the next reduction only in mid-2026. Today's show features:
<ul>
<li>Chris Whalen, Chairman of Whalen Global Advisors, on JPMorgan Chase earnings and the global banking sector</li>
<li>Matthew Luzzetti, Chief US Economist and Head of US Economic Research at Deutsche Bank, on the latest US CPI print and challenges to Federal Reserve independence</li>
<li>Savanthi Syth, Managing Director for Airlines and Advanced Air Mobility with Raymond James, on Delta&rsquo;s quarterly earnings and the airline sector outlook</li>
<li>Bloomberg News Senior Editor, Equities Americas Eric Weiner on the Tuesday trade and Bloomberg Economics US and Canada Economist Stuart Paul on key data and the Federal Reserve</li>
</ul>

Stocks Wipe Out CPI-Fueled Gains as JPMorgan Sinks

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/51b94264-cba6-41c2-9cad-b3d101745ca9/transcript

The time of the corporate landlord as America’s housing villain was supposed to be over. Money managers like Blackstone Inc. and Pretium, who binged on single-family rentals in the wake of the financial crisis took blow after blow as housing prices shot up. But the cohort has since cooled its buying, and the attacks slowed. But President Donald Trump on Wednesday brought the issue front-and-center when he pledged in a social media post to stop institutional investors from buying more homes.

Stephen Scherr, Co-President at Pretium, weighs in on the president's threats against his business and how the country's leading owners of single-family rental homes might have to reposition themselves in the near-term. Stephen speaks with Tim Stenovec, Emily Graffeo and Bloomberg News Chief Wall Street Correspondent Sri Natarajan on Bloomberg Businessweek Daily.

The time of the corporate landlord as America&rsquo;s housing villain was supposed to be over. Money managers like Blackstone Inc. and Pretium, who binged on single-family rentals in the wake of the financial crisis took blow after blow as housing prices shot up. But the cohort has since cooled its buying, and the attacks slowed. But President Donald Trump on Wednesday brought the issue front-and-center when he pledged in a social media post to stop institutional investors from buying more homes. Stephen Scherr, Co-President at Pretium, weighs in on the president's threats against his business and how the country's leading owners of single-family rental homes might have to reposition themselves in the near-term. Stephen speaks with Tim Stenovec, Emily Graffeo and Bloomberg News Chief Wall Street Correspondent Sri Natarajan on Bloomberg Businessweek Daily.

Corporate Landlords Find Themselves in Trump's Crosshairs 

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/05371376-1d50-42b5-896c-b3d001714cfd/transcript

Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.

President Donald Trump faced rare opposition from key Republican lawmakers after Federal Reserve Chair Jerome Powell accused the Department of Justice of launching a grand jury investigation to pressure and intimidate the central bank.

Senator Thom Tillis, a key Republican on the Banking Committee who isn’t running for reelection, vowed quickly Sunday night to oppose any Trump nominees to the Fed until the matter is resolved. Other Republican senators, including former Bridgewater Associates CEO Dave McCormick, offered more measured pushback on Monday.

Tillis’s threat is a potential roadblock to Trump’s plans to bend the bank to his will. Opposition from Tillis would likely deadlock any Fed nominee on the Senate Banking Committee, which is divided 13-11 between the two parties. And under current Senate rules, it takes 60 votes to successfully discharge a contentious nomination from a committee and Democratic senators are highly unlikely to come to Trump’s aid.

Senate Majority Leader John Thune said the threat of a legal battle with the Fed could make confirming Fed nominees “challenging.”

Today's show features:
Heather Long, Chief Economist at Navy Federal Credit Union, on Federal Reserve independence and the health of the American consumer
Aaron Kennon, Chief Executive Officer of Clear Harbor Asset Management on the US monetary policy outlook, and whether bullish sentiment for gold and AI will persist
Bloomberg News Consumer Finance Reporter Paige Smith on President Donald Trump’s call for a cap of 10% on credit-card interest rates
Bloomberg News National Security Team Leader Wadhams on the latest developments in Iran and US options as it mulls whether to pursue new military action

Watch Carol and Tim LIVE every day on YouTube: <a href="http://bit.ly/3vTiACF">http://bit.ly/3vTiACF</a>. President Donald Trump faced rare opposition from key Republican lawmakers after Federal Reserve Chair Jerome Powell accused the Department of Justice of launching a grand jury investigation to pressure and intimidate the central bank. Senator Thom Tillis, a key Republican on the Banking Committee who isn&rsquo;t running for reelection, vowed quickly Sunday night to oppose any Trump nominees to the Fed until the matter is resolved. Other Republican senators, including former Bridgewater Associates CEO Dave McCormick, offered more measured pushback on Monday. Tillis&rsquo;s threat is a potential roadblock to Trump&rsquo;s plans to bend the bank to his will. Opposition from Tillis would likely deadlock any Fed nominee on the Senate Banking Committee, which is divided 13-11 between the two parties. And under current Senate rules, it takes 60 votes to successfully discharge a contentious nomination from a committee and Democratic senators are highly unlikely to come to Trump&rsquo;s aid. Senate Majority Leader John Thune said the threat of a legal battle with the Fed could make confirming Fed nominees &ldquo;challenging.&rdquo; Today's show features:
<ul>
<li>Heather Long, Chief Economist at Navy Federal Credit Union, on Federal Reserve independence and the health of the American consumer</li>
<li>Aaron Kennon, Chief Executive Officer of Clear Harbor Asset Management on the US monetary policy outlook, and whether bullish sentiment for gold and AI will persist</li>
<li>Bloomberg News Consumer Finance Reporter Paige Smith on President Donald Trump&rsquo;s call for a cap of 10% on credit-card interest rates</li>
<li>Bloomberg News National Security Team Leader Wadhams on the latest developments in Iran and US options as it mulls whether to pursue new military action</li>
</ul>

Powell Probe Stirs GOP Concern, Threat to Stop Trump Nominee

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/08507038-d8df-4a12-8a27-b3d0016f98a0/transcript

ICYMI: Why Leading Retailers' Valuations Look "Scarier" Than Nvidia's

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