AustraliaBreaking News

A stunning red-card reversal has sparked a global soccer controversy after President Trump weighed in on Folarin Balogun's suspension. Bloomberg's Randall Williams joins the show to talk about whether the decision was fair, if slow-motion review distorts intent, and why the ruling could create a dangerous precedent for the World Cup.

On this episode of Stock Movers: - Korean-listed shares of SK Hynix (000660 KS) declined after the chipmaker kicked off the formal marketing process for its US listing on Friday. The company is seeking to sell American depositary receipts representing about 17.79 million common shares. - Shares of Broadcom (AVGO) moved lower ahead of the US market open after the company said that it will provide custom chips for Apple Inc. (AAPL) in an expanded deal that runs through 2031. The companies have signed a new multi-year agreement, through which Broadcom will develop custom ASIC chips. - Shares of Honeywell spinoff Solstice Advanced Materials (SOL) and Element Solutions (ESI) rose in premarket trading after the Financial Times reported that the firms are in talks to merge, citing people familiar with the matter. Discussions between the two companies over a merger are ongoing; a deal could come together as soon as this week.

A rebound in chipmakers lifted stocks as dip buyers emerged amid speculation that the artificial-intelligence trade that has powered the bull market has more room to run. Lori Calvasina, Head of US Equity Strategy at RBC Capital Markets, discusses AI influence on the broader market and stronger earnings driving stock upside.

President Donald Trump says he ask FIFA chief Gianni Infantino to review the red card given to US soccer star Folarin Balogun. Trump says the striker did not commit a foul against Bosnia and Herzegovina. "All I did, I asked for a review, because I didn't think it was a foul. And, you know, again, I'm good at this stuff. I didn't think it was a foul. I thought it was two great athletes that crashed into each other and got entangled," Trump told reporters Monday in the Oval Office. FIFA overturned the suspension of Balogun, who is now allowed to play in the Monday night match against Belgium. (Corrects spelling of Folarin)

President Donald Trump holds an event in the Oval Office to mark the launch of Trump Accounts, a new investment vehicle for children. Michael and Susan Dell, who made a $6.25 billion donation to support the program, and other executives were on hand. Trump says many companies are "putting up a lot of money."

The US service sector expanded in June at a slightly slower pace, with the Institute for Supply Management's services index decreasing 0.5 point to 54. Mike McKee reports on "Bloomberg Open Interest."

Microsoft Corp.'s Xbox plans to eliminate 3,200 jobs, or around 20% of its staff over the next year, as part of a massive reorganization to spur growth in the struggling gaming division. Jason Schreier reports on "Bloomberg Open Interest."

Max Kettner, chief multi-asset strategist at HSBC, says the ``melt-up'' moment in tech stocks is set to swing momentum back to the hyperscalers. He speaks on Bloomberg Television's ``Surveillance.''

Morgan Stanley Chief US Equity Strategist Mike Wilson says investors are rotating out of some of the year's biggest winning technology trades. He says hyperscalers will stabilize and semiconductors stocks will correct. He speaks on "Bloomberg Surveillance."

Kelsey Berro, Fixed Income Portfolio Manager at JPMorgan Asset Management, discussed the Federal Reserve's monetary policy outlook, indicating that a rate hike in July is probably off the table and she expects the Fed to stay on hold for the year. Berro also says while the recent payrolls report suggests the labor market is stable, it's not going to decisively influence Fed decisions. She speaks on "Bloomberg Surveillance."

More than $2 trillion is being poured into the global arms race as nations attempt to be the first to master drones, hypersonic weapons, AI and other emerging technologies that may dominate future battlefields. Bloomberg's Gerry Doyle reports.

Ireland's technology sector, heavily exposed to US multinationals, is facing widespread AI-driven labor market disruption and declines in its high tech employment rates. Bloomberg's Olivia Fletcher has more.