Xona a startup working to improve GPS with a new purpose-built commercial satellite navigation network has raised $250 million at a $2.45 billion valuation. Xona CEO and co-founder Brian Manning discusses the difference the company's smaller, more scalable satellites make, its recent regulatory approvals and plans for commercialization. Manning joins Ed Ludlow on "Bloomberg Tech."
Anthropic's upcoming public listing is poised to create multibillion-dollar gains for top venture capital firms, tech companies and independent investors that have backed the company. Bloomberg's Natasha Mascarenhas explains why many of the investors raking in huge paydays won't have their stakes listed when Anthropic releases its IPO filings. She joins Ed Ludlow on "Bloomberg Tech."
A resurgence in oil prices dragged down stocks and bonds, stoking concerns about inflation just days ahead of the Federal Reserve decision on interest rates. The recent selloff in AI-linked stocks is a reminder that the most popular trades tend to hurt the most when sentiment turns. Tani Fukui, Senior Director of Economic & Market Strategy at MetLife Investment Management, discusses Fed communication and what upcoming data will tell us about US inflation.
Apple Inc. has already shown there's a strong appetite for its $2,000-and-up foldable iPhone Duo. Now it needs to meet that demand. The new device went on sale Friday, bringing back the once-familiar sight of people lining up overnight to get their hands on it first. Marking the company's most radical reinvention in the iPhone's nearly two-decade history, the Duo is a major bet the company can establish itself in a category that's remained a niche so far. Bloomberg's Anurag Rana joins to discuss.
Kalshi co-founder and CEO Tarek Mansour discusses the growing role of prediction markets in elections and the regulatory challenges facing the industry. Speaking with Tyler Kendall on "Bloomberg Tech," Mansour also comments on the company's proposed perpetual oil futures contract.
US consumer sentiment edged down to a five-month low in October as high prices and rising interest rates depressed morale. The University of Michigan's final sentiment index eased to 48 from 48.1 in September, according to the survey released Friday. Even so, that was an improvement from the preliminary reading and topped all estimates in a Bloomberg survey of economists. Joanne Hsu, University of Michigan Surveys of Consumers Director joins to discuss.
Metrics across global bond markets are signaling their biggest risk-off sentiment in more than a year, as a selloff in AI stocks and growing geopolitical tensions caused investors to seek out safe-haven assets. Katy Kaminski, Chief Research Strategist at AlphaSimplex, discusses the equities AI trade test and why fixed income is still under pressure.
Japanese government bond yields fell across the curve on Friday as an AI-driven selloff in equities boosted demand for haven assets, with a rally in US Treasuries spilling over into the Japanese market. Masa Takeda, Portfolio Manager for the Hennessy Japan Fund, discusses overseas opportunities in Japan, AI usage, and how global bond rallies could drive investors to different markets.
On this episode of Stock Movers: - Decker Outdoor (DECK) is tumbling after the footwear company cut its net sales guidance for the full year, which also fell short of the consensus estimate. - Kering (KER) shares are slumping after the French luxury-goods company saw further deceleration of third-quarter revenue growth at its key Gucci unit, slower growth in North America as well as persistent weakness in China. - American Express (AXP) shares are moving on news that the company is planning to cut 5% of its global headcount. Chief Executive Officer Steve Squeri told Bloomberg TV that the move will affect about 3,500 jobs. - Moderna (MRNA) plummeted after data on the companies' widely anticipated melanoma vaccine wasn't enough to prove to investors that a new era of cancer treatments has arrived. While the results clearly showed the vaccine worked, they weren't spectacular enough to generate confidence.
Gabelli Funds President Chris Marangi says markets are in an AI-related bubble, but he believes it remains early in its development. Speaking on "Bloomberg Open Interest," Marangi describes AI as a historic technological transformation driving substantial investment and says earnings growth supports the market.
