Bloomberg's Nathan Hager and Michael McKee discuss the latest PCE data and reaction from Fed Chair Jerome Powell. Plus, reaction from Wells Fargo Senior Economist Sarah House.

Bloomberg's Nathan Hager and Michael McKee discuss the latest PCE data and reaction from Fed Chair Jerome Powell. Plus, reaction from Wells Fargo Senior Economist Sarah House.

Listen for today's top stories, with context, in just 15 minutes. Get informed from Bloomberg's 3,000 journalists and analysts.

Listen for today's top stories, with context, in just 15 minutes. Get informed from Bloomberg's 3,000 journalists and analysts.

Bloomberg Daybreak: US Edition

Instant Reaction: Jay Powell Speaks

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/078c2bbc-0e57-43d5-8767-b1420113e6d5/transcript

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week.
In the US – a look ahead to the November jobs report and quarterly earnings from Nike.
In the UK – a look ahead to the Conference of Paris.
In Asia – a look ahead to the next monetary policy decision from the Bank of Japan.

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week.
<ul>
<li>In the US &ndash; a look ahead to the November jobs report and quarterly earnings from Nike.</li>
<li>In the UK &ndash; a look ahead to the Conference of Paris.</li>
<li>In Asia &ndash; a look ahead to the next monetary policy decision from the Bank of Japan.</li>
</ul>

Daybreak Weekend: Jobs Preview, Paris Conference, BOJ Decision

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/df8dc4ba-6cbc-412d-8566-b3b1014c1ea5/transcript

On today's podcast:
1) Global stock gauges have record highs in their sights after a week in which affirmation that the Federal Reserve’s interest-rate easing cycle remains intact helped clear the way for a year-end rally. Europe’s Stoxx 600 rose as much as 0.5% to a fresh peak. A measure for Asia advanced to less than 2% from its all-time high. S&P 500 futures were slightly lower after the benchmark posted a new closing milestone in the previous session, when gauges for blue-chip and small-cap US stocks also pushed into record territory.
2) Broadcom Inc., a chip company vying with Nvidia Corp. for AI computing revenue, slumped after its sales outlook for the red-hot market failed to meet investors’ lofty expectations. The shares fell about 5% in premarket trading on Friday, following unsettling commentary from Chief Executive Officer Hock Tan on a conference call with analysts. He said the company has a backlog of $73 billion in AI product orders that will be shipped over the next six quarters — a number that disappointed some investors. But Tan sought to clarify that the figure was a “minimum.” 
3) President Trump said the US would be willing to contribute assistance to Ukraine as part of a security agreement to end the war with Russia, but continued to express frustration with the pace of talks. Still, he expressed disappointment that Ukraine President Volodymyr Zelenskiy had not more readily signed off on an American peace plan, adding to pressure on officials in Kyiv who pushed back on an earlier US proposal seen as too accommodating to Moscow.

On today's podcast: 1) Global stock gauges have record highs in their sights after a week in which affirmation that the Federal Reserve&rsquo;s interest-rate easing cycle remains intact helped clear the way for a year-end rally. Europe&rsquo;s Stoxx 600 rose as much as 0.5% to a fresh peak. A measure for Asia advanced to less than 2% from its all-time high. S&amp;P 500 futures were slightly lower after the benchmark posted a new closing milestone in the previous session, when gauges for blue-chip and small-cap US stocks also pushed into record territory. 2) Broadcom Inc., a chip company vying with&nbsp;Nvidia Corp.&nbsp;for AI computing revenue, slumped after its sales outlook for the red-hot market failed to meet investors&rsquo; lofty expectations. The shares fell about 5% in premarket trading on Friday, following unsettling commentary from Chief Executive Officer&nbsp;Hock Tan&nbsp;on a conference call with analysts. He said the company has a backlog of $73 billion in AI product orders that will be shipped over the next six quarters &mdash; a number that disappointed some investors. But Tan sought to clarify that the figure was a &ldquo;minimum.&rdquo;&nbsp; 3) President Trump said the US would be willing to contribute assistance to Ukraine as part of a security agreement to end the war with Russia, but continued to express frustration with the pace of talks. Still, he expressed disappointment that Ukraine President Volodymyr Zelenskiy had not more readily signed off on an American peace plan, adding to pressure on officials in Kyiv who pushed back on an earlier US proposal seen as too accommodating to Moscow.

Global Stocks Hit All-Time Highs; Broadcom Slides as Investors Seek AI Payoff

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/794a07ee-cd71-4b24-b5dd-b3b100b0a568/transcript

On today's podcast:
1) US forces intercepted and seized a sanctioned oil tanker off the coast of Venezuela, marking a serious escalation of tensions between the two countries. A senior Trump administration official referred to the ship as “a stateless vessel” that was last docked in Venezuela. Bloomberg News was first to report the seizure. The US action may make it much harder for Venezuela to export its crude, as other shippers are now likely to be more reluctant to load its cargoes. Most of the nation’s oil goes to China, usually through intermediaries, at steep discounts owing to sanctions risk. Brent futures edged higher after the news.
2) A coalition of Ukraine’s allies will discuss a bid to move swiftly on President Trump’s peace proposal on Thursday as Kyiv’s forces carried out their first-ever attack on Russian Caspian Sea oil production. Leaders from more than 30 countries that are part of the so-called coalition of the willing group will hold a virtual meeting, their second this week, Ukrainian President Volodymyr Zelenskiy said in a video address. Allies will discuss the state of peace talks and the latest draft plan that Ukrainian officials sent to Washington overnight, people familiar with the planning said. UK Prime Minister Keir Starmer, French President Emmanuel Macron and German Chancellor Friedrich Merz are expected to brief participants on an exchange they had with Trump on Wednesday.
3) A market party after the Federal Reserve’s policy decision came to an abrupt halt within hours as a plunge in Oracle Corp.’s shares reawakened concerns over tech-stock valuations. Now investors are left to ponder whether they will still get a Christmas rally. The MSCI All Country World Index had been a whisker away from its peak before changing course, while gold snapped what would have been a three-day winning streak. The earlier gains were a reflection of enthusiasm following the Fed’s latest interest rate cut and Chair Jerome Powell’s upbeat assessment of the US economy. The upbeat mood faded after Oracle’s stock plunged on the company’s below-consensus sales and spending increase that rekindled worries over tech shares’ expensive valuations. That caused Nasdaq futures to slump as much as 1.6% and 10-year Treasury yields to drop by three basis points at one point.

On today's podcast: 1) US forces intercepted and seized a sanctioned oil tanker off the coast of Venezuela, marking a serious escalation of tensions between the two countries. A senior Trump administration official referred to the ship as &ldquo;a stateless vessel&rdquo; that was last docked in Venezuela. Bloomberg News was first to report the seizure. The US action may make it much harder for Venezuela to export its crude, as other shippers are now likely to be more reluctant to&nbsp;load its cargoes. Most of the nation&rsquo;s oil goes to China, usually through intermediaries, at steep discounts owing to sanctions risk.&nbsp;Brent&nbsp;futures edged higher after the news. 2) A coalition of Ukraine&rsquo;s allies will discuss a bid to move swiftly on President Trump&rsquo;s peace proposal on Thursday as Kyiv&rsquo;s forces carried out their&nbsp;first-ever attack&nbsp;on Russian Caspian Sea oil production.&nbsp;Leaders from more than 30 countries that are part of the so-called coalition of the willing group will hold a virtual meeting, their second this week, Ukrainian President Volodymyr Zelenskiy said in a video address. Allies will discuss the state of peace talks and the latest draft plan that Ukrainian officials sent to Washington overnight, people familiar with the planning said. UK Prime Minister Keir Starmer, French President Emmanuel Macron and German Chancellor Friedrich Merz are expected to brief participants on an exchange they had with Trump on Wednesday. 3) A market party after the Federal Reserve&rsquo;s policy decision came to an abrupt halt within hours as a plunge in&nbsp;Oracle Corp.&rsquo;s shares reawakened concerns over tech-stock valuations. Now investors are left to ponder whether they will still get a Christmas rally. The&nbsp;MSCI All Country World Index&nbsp;had been a whisker away from its peak before changing course, while&nbsp;gold&nbsp;snapped what would have been a three-day winning streak. The earlier gains were a reflection of enthusiasm following the Fed&rsquo;s latest interest rate cut and Chair Jerome Powell&rsquo;s upbeat assessment of the US economy. The upbeat mood faded after Oracle&rsquo;s stock&nbsp;plunged&nbsp;on the company&rsquo;s below-consensus sales and spending increase that rekindled worries over tech shares&rsquo; expensive valuations. That caused Nasdaq futures to slump as much as 1.6% and 10-year Treasury yields to drop by three basis points at one point.

US Seizes Sanctioned Oil Tanker Off Venezuelan Coast; Traders Flock to Safety on Oracle Woes

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/ab95ab09-8b97-4d51-9251-b3b000ab924a/transcript

Instant Reaction: Jay Powell Speaks

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