Comprehensive cross-platform coverage of the U.S. market close on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Carol Massar and Tim Stenovec.
Palantir Technologies (NASDAQ:PLTR) reported Q2 revenue of $1.94 billion, up 93%, as its U.S. business generated $1.57 billion.
Vertex Pharmaceuticals (NASDAQ:VRTX) reported Q2 revenue of $3.33 billion, up 12%, as its CF and newer treatments generated growth.
Hugging Face CEO Clément Delangue says a hack by OpenAI could have been "way worse" if not for the company's defensive measures. He calls this a "wake up call" for the industry and says the incident has been reported to lawmakers and authorities. He speaks to Bloomberg's Ed Ludlow on "Balance of Power."
Torsten Slok, chief economist at Apollo, said that while AI and the Fed may be issues more at the forefront of the economic conversation, risk from the Iran war and its subsequent impact on fuel stores remains an important factor in the background. Slok also commented the possibility that the Fed may have fewer meetings, saying that market will still try to price the Fed regardless of the schedule.
Holly Framsted, head of global product strategy and development at Capital Group, joins Scarlet Fu and Eric Balchunas on "Bloomberg ETF IQ." They discussed ETF and mutual funds flows as well as allocation shifts within model portfolios.
Clement Delangue, CEO of AI company Hugging Face, sat down with Bloomberg's Ed Ludlow to discuss OpenAI models' hack on Hugging Face last month and the future of AI regulation. Talking about the hack, Delangue, said that while companies want AI agents to think outside the box, they don't want AI to 'think outside the sandbox' and stay in the closed testing environment. Delangue also discussed government involvement in AI regulation and said that there is a risk that too much government intervention would result in a 'concentration of power' and said that is one of the biggest risks in the AI space.
"They're going to give some of that back to the public, and they better cut the retail price," President Donald Trump says when asked about the profits of ExxonMobil and Chevron during remarks with reporters at the White House.
Bloomberg's Isabelle Lee joins Scarlet Fu and Eric Balchunas on "Bloomberg ETF IQ." Corgi is on pace to launch roughly 500 ETFs within its first year, more than BlackRock accumulated over many years. It already ranks among the largest US issuers by product count and says its eventual goal is 1,000 funds spanning leveraged stocks, buffered strategies, semiconductors and narrowly targeted themes.
Michael Allen, managing director of Beacon Global Strategies and a former national security aide to President George W. Bush, said that America's inability to stick to a coherent message on Iran has confused the American people and the MidEast region, including US adversaries. Allen also discussed the tentative agreement to rebuild Gaza, saying there is a low likelihood that it is enacted how it looks on paper but that the President and his team deserve credit for trying.
Bloomberg's Yiqin Shen joins Scarlet Fu and Eric Balchunas on "Bloomberg ETF IQ." Leveraged ETFs that offer the tantalizing prospect of doubling or tripling the daily returns of an individual stock are famously risky for investors who buy them. The result has been a quiet surge of activity in an exotic corner of the derivatives market, where investment banks, hedge funds and other institutional investors trade what are often known as "crash puts" and sometimes referred to as cliquets or stability notes.
Christian Magoon, founder and CEO of Amplify ETFs, joins Scarlet Fu and Eric Balchunas on "Bloomberg ETF IQ." They discuss Amplify CWP Enhanced Dividend Income ETF (ticker: DIVO), which aims to be a challenger to JPMorgan Equity Premium Income ETF (ticker: JEPI).
