Brian Casey, chief executive officer of Dallas-based Westwood Holdings Group Inc., says the decision to list a new exchange-traded fund on the Texas Stock Exchange makes sense because the power-generation ETF is focused on Texas. He speaks with Bloomberg's Julie Fine about the ETF, the future of the TXSE and how artificial-intelligence regulation affects technology stocks.
Elizabeth Economy, a former Biden administration China adviser and a senior fellow at the Hoover Institution, joins Bloomberg Open Interest to break down what could emerge from US-China talks beyond the diplomatic spectacle. She sees potential cooperation on AI security, but warns Washington's traditional leverage is weakening. From Iranian oil and semiconductor controls to rare earths and trade commitments, Economy argues the US will increasingly need allies to pressure Beijing.
- Darden Restaurants (DRI) shares are lower after reporting first quarter results. It posted higher 1Q sales, but profits slipped and expenses increased. - MGM Resorts (MGM) shares are lower after Barry Diller's People Inc. dropped plans to acquire the rest of the casino giant. - Stitch Fix (SFIX) shares are falling after the online personal styling platform forecast a much weaker full-year 2027 Ebitda that analysts expected. The company also reported loss per share from continuing operations for the fourth quarter of 2.0c.
Federal Reserve Bank of Philadelphia President Anna Paulson says some modest further tightening may be warranted to ensure inflation returns to the central bank's 2% goal during an event in Philadelphia.
Federal Reserve Bank of Cleveland President Beth Hammack said there is the risk that an inflationary mindset takes hold as the US economy faces a series of supply shocks. Hammack warned that "when the environment is more prone to shocks, or the shocks arrive one after another in a period when inflation has been elevated for years, there's a greater risk that an inflationary mindset could take hold." She spoke Thursday at a conference hosted by the Cleveland Fed.
Oracle sent a notice citing force majeure to the project's developer, a unit of Blue Owl Capital Inc., regarding a massive data center being built in New Mexico. Sridhar Natarajan reports on "Bloomberg Open Interest."
Vinod Khosla, an early investor of OpenAI and the founder of Khosla Ventures, says slowing AI development could hand China a strategic advantage. He joined Bloomberg Open Interest to argue that America should accelerate AI and energy infrastructure while protecting workers displaced by automation, not their individual jobs. He also says Silicon Valley has failed to clearly communicate AI's potential benefits in healthcare, education and economic growth.
Oil climbed higher Thursday, with Brent futures jumping more than 3%, after a top Iranian military official said Tehran may broaden the war to the Indian Ocean if attacked. Charles Gorrivan reports on Bloomberg Television.
Ohsung Kwon, chief equity strategist at Wells Fargo, explains the "pretty negative setup" he sees for equities as he lowers his year-end target for the S&P 500 to 7,700.
Applications for US unemployment benefits fell to the lowest level since July, edging down 1,000 to 197,000 in the week ended Sept. 19, according to Labor Department data released Thursday. Enda Curran reports on Bloomberg Television.
Lisa Shalett, CIO at Morgan Stanley Wealth Management, sees both equities and bonds "going through a period of seasonal weakness," but would be a buyer of stocks as she views the midterm election as a clearing event for equity markets.
"We don't think the dollar will knock it out of the park," says Daragh Maher, senior FX strategist at HSBC, as he discusses the "ambiguous relationship" he sees between the US dollar and Treasury yields. He speaks on "Bloomberg Surveillance."
