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Saira Malik, Chief Investment Officer at Nuveen, talks about what she wants to hear from Fed Chair Kevin Warsh in Jackson Hole and she explains why she's bullish on software stocks. Malik speaks on "Bloomberg The Close."
Revolution Medicines won US approval for a breakthrough pill that lengthens the lives of patients with advanced pancreatic cancer, a major advance against one of the hardest-to-treat tumor types. The once-daily drug carries a list price of more than $475,000 a year, making it one of the most expensive cancer treatments in history. The company branded it Rasonque and made it available starting Wednesday. It's one of the first medicines to broadly target RAS, a protein tied to tumor growth that's mutated in most pancreatic cancers. The approval opens a new front against a disease where treatment has advanced slowly. Bloomberg's Madison Muller reports.
Jack Manley, Global Market Strategist at JPMorgan Asset Management, said that he's not expecting to get any information about the path of rates from Fed Chair Kevin Warsh's remarks in Jackson Hole. Manley said that he expects Warsh to paint inflation as the 'be all, end all' for the Fed's economic policy decisions and potentially give insight into how he is measuring that data.
Comprehensive cross-platform coverage of the U.S. market close on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Emily Graffeo, Lisa Mateo and Tim Stenovec.
Noah Wise, Senior Portfolio manager and Head of Global Macro Strategy for the Global Fixed Income team at Allspring Global Investments, and Kelley Gerrity, Fixed Income Client Portfolio Manager at Morgan Stanley Investment Management, join Scarlet Fu on "Bloomberg Real Yield."
Eric Aboaf, CFO of S&P Global, said that his business is to create transparency around hyperscalers for investors as the AI buildout shows no signs of slowing down. Aboaf, who was joined by Bloomberg's Nina Trentmann, said that AI is also an 'accelerant' for S&P Global on the client and revenue side of the business, as feature to help clients access key data.
Hugging Face unveiled MicroDuck, the company's new open-source robot that can walk, talk, and roller-skate. Hugging Face co-founder and Chief Science Officer Thomas Wolf discusses surging demand for robotics and open-source AI, and says the company is currently selling roughly one MicroDuck every four seconds. He also declined to comment on reports that Nvidia is nearing a roughly $13 billion deal to acquire the AI startup, while saying Hugging Face regularly receives acquisition and investment interest. He joins Ed Ludlow on "Bloomberg Tech."
Meta's settlement is a "pittance" relative to the company's profits, according to University of Virginia Law Professor Danielle Citron. She argues the bigger question is whether new protections for teenage Facebook and Instagram users will actually work, questioning a framework that relies heavily on parents to enforce limits and warning that teenagers may find ways around the restrictions. She joins Ed Ludlow on "Bloomberg Tech."
Kathryn Edwards, Bloomberg Opinion columnist and host of the Optimist Economy podcast, said that President Trump's move to lower tariffs on beef imports in an effort to bring prices down is a 'remarkable admission' that tariff policy is increasing prices. Edwards said that the long term cost of beef and other food items is a 'war' the US is 'fighting on multiple fronts' including environmental conditions, industry competition and economic policy.
Nvidia's forecast for roughly 70% revenue growth next fiscal year is changing the debate around the durability of the AI boom, according to Wealth Enhancement Group Deputy CIO Doug Huber. He explains why the question is shifting from whether AI demand is slowing to whether the industry can physically build enough compute to satisfy it, and why Nvidia's investments in frontier AI labs could ultimately deepen demand for its technology. He joins Ed Ludlow on "Bloomberg Tech."
John Herbst, a former US ambassador to Ukraine now at the Atlantic Council's Eurasia Center, said that while Ukrainian strikes were weakening Russia's ability to conduct its war, Russia has 'no new tactics' and is resorting to killing civilians. Herbst described the most recent strikes on the Ukraine capital of Kyiv as 'pure terror, pure war crimes.'
Okta's stock experienced a significant rally following the company's better-than-expected quarterly results and an upgraded revenue forecast. The cybersecurity firm is capitalizing on the increasing demand for security solutions tailored to the growing number of AI agents deployed within businesses. Todd McKinnon, Okta's cofounder and CEO, discussed the factors driving the company's robust growth
