Bloomberg's Zijia Song joins Scarlet Fu and Tom Keene on "Bloomberg Money." Sports betting is increasingly competing with traditional investing for younger Americans' attention, with more than a quarter of Gen Z investors saying they see gambling on sports as part of their long-term financial strategy, according to a survey by personal finance platform Betterment.
Scarlet Fu and Tom Keene discuss their must-read book on this weeks edition of "Bloomberg Money." They discuss "Shoeless Joe: The Inspiration for Field of Dreams" by W. P. Kinsella and "Ladies and Gentlemen, the Bronx Is Burning: 1977, Baseball, Politics, and the Battle for the Soul of a City" by Jonathan Mahler.
Kristen Bitterly, head of global Wealth at Work at Citi, joins Scarlet Fu and Tom Keene on "Bloomberg Money." They discuss retirement and how some become indifferent to planning.
Kristen Bitterly, head of global Wealth at Work at Citi, joins Scarlet Fu and Tom Keene on "Bloomberg Money." They discuss how the increase in life expectancy is changing how people plan for retirement.
Clara Gillispie, senior fellow for climate and energy at the Council on Foreign Relations, said that both oil producers and buyers are now considering the possibility that the Strait of Hormuz will remain closed or operating at a reduced capacity a year in the future. Gillispie said that as countries look for workarounds to the Strait, they are looking both alternative routes and ways to decrease their insurance risk exposure.
Bloomberg's Paulina Cachero joins Scarlet Fu and Tom Keene on "Bloomberg Money." The American Dream of owning a home is alive, at least in Grand Rapids, Michigan. Almost half of all new homeowners in Kent County are younger than 35, as the area is a high concentration of affordable homes and plentiful job opportunities.
The Trump Administration announced tariffs on drone imports, seeking to bolster US security and boost domestic defense manufacturing. Bloomberg's Tyler Kendall has the details on the new levies and the White House's broader aims to ensure drone dominance.
Mike Wilson, chief US equity strategist & chief investment officer at Morgan Stanley, joins Scarlet Fu and Tom Keene on "Bloomberg Money." They discuss how long-term investors should approach their portfolio.
Mike Wilson, chief US equity strategist & CIO at Morgan Stanley, joins Scarlet Fu and Tom Keene on "Bloomberg Money." They discuss how the average American does a 'bad job' rebalancing their portfolios.
Bloomberg's Lily Meier, Isabelle Lee, and Joe Mathieu joins Scarlet Fu and Tom Keene on "Bloomberg Money." They discuss voter turnout in the midterm elections amid the affordability crisis, US retail sales falling in July by the most in more than a year, and how TikTok influencers are giving financial advice.
Tom Kloza, chief oil advisor to Gulf Oil, says that disruption in the global oil market from the Iran war is likely to make this harvest season extremely costly as average diesel prices extends over $5 a gallon. Kloza also discussed the impact economic pressure on Iran and said that that likely means the US won't have 'full and unfettered access' to the global oil markets.
Retired US Army Brigadier General Mark Kimmitt said winning a war with Iran will require patience on the side of the United States because Iran follows a model of resistance and will consider the war a win if they don't lose. Kimmitt also cast doubt on the idea that the US could win the war with an air campaign alone as the Trump administration moves to put economic rather than military pressure on Iran.
