Bloomberg News and Videos — Page 91

On this episode of Stock Movers: - Carvana (CVNA) is sinking after the online car retailer gave an annual adjusted Ebitda forecast with a midpoint below analyst estimates. - Chipotle (CMG) and Starbucks (SBUX) raised their guidance after stronger-than-expected quarters, with sales bolstered by new menu items and revamped loyalty programs. - Crocs (CROX) shares are sinking after a soft outlook for this quarter pointed to a weak second half, pushing some investors to sell following a big rally in the company's shares this year.

White House National Economic Council Director Kevin Hassett says he has full confidence in Federal Reserve Chairman Kevin Warsh after the central bank decided to keep rates unchanged. Speaking on "Bloomberg Open Interest," Hassett also weighs in on current inflation levels and says he doesn't see markets in bubble territory because of AI.

Former St. Louis Fed President James Bullard calls the reaction in the 30-Year US Treasury to Federal Reserve Chairman Kevin Warsh's press conference on Wednesday "nerve wracking" for a central banker. Bullard says Warsh needed to create more optionality in September and that "markets obviously didn't like this."

The US economy grew at a weaker-than-expected pace in the second quarter as inflation-adjusted gross domestic product increased an annualized 1.5% in the period, despite a pickup in consumer spending and solid business investment. Michael McKee breaks down the numbers on Bloomberg Television.

London Stock Exchange Group raised its full-year guidance after reporting its strongest first half since acquiring Refinitiv. The company said demand for its AI-powered data products continues to grow. CEO David Schwimmer also said he would "love to see" the UK's stamp duty on share purchases removed, arguing it is "the wrong incentive structure" for trading and listings. He added that the UK underinvests its own pension capital in domestic markets and sees "signs of receptivity" to reforms aimed at increasing investment. David Schwimmer joined Caroline Hepker and Stephen Carroll on Bloomberg Radio. Bloomberg LP, the parent company of Bloomberg News, competes with LSEG to provide financial news, data and information. Christopher Pitt

Paul Sankey, president of Sankey Research, explains the level of tightness in the crude oil refining system, the "massive" margins between the price of barrels of oil and refined products like gasoline and jet fuel, and why he expects the US strategic petroleum reserve to run out around September.

Angelo Zino, CFRA Vice President of Technology, joins Vonnie Quinn on "Bloomberg Brief" to discuss Meta earnings after Mark Zuckerberg defended the firm's significant AI investments despite disappointing revenue forecasts.

The US hit dozens of military targets in a fresh wave of strikes on Iran in response to an attack on American forces in Jordan. Iran targeted a building in northern Kuwait while Jordan said it intercepted five missiles from the Islamic Republic as the conflict escalates and spreads across the Middle East. Tyler Kendall reports on Bloomberg Television.

The Bank of England's Monetary Policy Committee voted six-three in favor of keeping interest rates on hold at 3.75%. UK officials sought to balance the threat from US-Iran tensions against signs that domestic price pressures are easing more quickly than expected. Bloomberg's Lizzy Burden reports.

PGIM Credit Global Economics Deputy Head Katharine Neiss discusses the Federal Reserve's decision to leave interest rates unchanged on Wednesday, saying Chairman Kevin Warsh delivered a "weaker press conference than expected." Speaking on Bloomberg Television, Neiss adds that the central bank's "Hawkish tilt" will come in September, with three sequential rate hikes.