Clear Investment Group CEO Amy Rubenstein says apartment renting is more affordable than buying a house for now as construction costs keep on rising. She talks about the state of housing on Bloomberg Businessweek Daily.
Anna Ashton, former Defense Department analyst for China, says that the US has significantly weakened its relationships and its weapons stockpiles ahead of President Xi's visit to the US in September and that Xi Jinping feels as if he has the upper hand heading into those talks. Ashton also weighed in on the US positioning in the region amid war with Iran, saying that the US is giving Beijing numerous signals that it's 'abandoning the Pacific as an area of primary focus.'
Bloomberg Opinion's Jonathan Levin joins Scarlet Fu on "Bloomberg Real Yield." Treasury Secretary Scott Bessent said today that he's prepared to expand efforts to buy back costlier debt and that the administration will be unveiling a new fiscal initiative to address the highest borrowing costs in years.
Meta has quietly become one of Microsoft's largest AI customers, spending hundreds of millions of dollars a year to access the Azure cloud service - and reviving concerns around circular business dealings in the AI space. Bloomberg's Brody Ford joins Ed Ludlow on "Bloomberg Tech."
Bitcoin surpassed $70,000 for the first time in over two months, propelled by US Treasury Secretary Scott Bessent's move to push US bond yields lower and a high-stakes meeting President Donald Trump held with crypto industry leaders. Bloomberg's Mike McGlone joins to discuss bitcoin as well as the recent climb in oil. Oil climbed to the highest in almost a month due to Donald Trump's threat to crush the Iranian economy.
The tentative trade deal between the US and Canada would lower tariffs on certain Canadian exports of steel and aluminum to 25% and cut duties on Canadian auto exports to 15%, according to people familiar with the matter. Tariffs on the non-US content in autos exported from Canada would be reduced to 15% from 25%, and the move on steel and aluminum under discussion would generally halve US tariffs on imports of the two metals. Bloomberg's Derek Decloet joins to discuss.
Several Federal Reserve officials favored an interest-rate hike last month and many indicated that policy tightening would be necessary if inflation didn't decline, a record of the central bank's most recent policy debate showed. Uncertainty, however, continued to weigh heavily on Fed officials at their July 28-29 meeting. Jack Manley, Global Market Strategist at JPMorgan Asset Management, discusses what he expects to see at Jackson Hole, as well as his thoughts on the depth of the AI trade.
Brown Harris Stevens CEO Bess Freedman says America's housing market is splitting in two: luxury buyers remain active while affordability deteriorates for everyone else. She joins Open Interest to warn that New York's taxes and rent policies could backfire, and argues the clearest solution includes loosen zoning rules and incentivizing developers to build more homes.
Walmart shares slide after slower US sales growth, but Greg Melich, Evercore ISI Senior Managing Director, says the retailer still has powerful advantages. He joins Bloomberg Open Interest to explain why aggressive price cuts, fast-growing advertising revenue and Walmart's scale could help it win market share even as consumers slow and competition with Amazon intensifies.
Robinhood co-founder and CEO Vlad Tenev says clearer, more permanent crypto rules would give investors confidence that regulations won't shift with changing administrations. Speaking with Bloomberg's Tyler Kendall at the Commodity Futures Trading Commission in Washington, DC, Tenev says that prediction markets will survive regardless of whether the Supreme Court sides with states seeking to regulate them, though he notes that the industry may have to adapt to the legal outcome.
Market participants are warning that a lack of predictability when it comes to the US Treasury's debt management strategy could ultimately portend higher borrowing costs. Guneet Dhingra, Head of US Rates Strategy at BNP Paribas, discusses this, and examines current parallels with the 2023 bond selloff.
On this episode of Stock Movers: - Shares of Walmart (WMT) tumbled ahead of the market open after the retail giant's quarterly sales fell short of expectations, a rare miss that's likely to stoke concern about the leading big-box retailer decelerating alongside a slow-growing US economy. - Shares of Advanced Auto Parts (AAP) sunk in premarket trading after the parts provider reported second-quarter sales that fell short of analyst estimates. Though the company boosted its adjusted earnings per share forecast for the full year, it maintained its sales guidance, which is also below estimates at the midpoint. - Shares of Coty (COTY) fell after the beauty conglomerate reported fourth-quarter results. While the company's net revenue for the quarter beat the average analyst estimate, Coty didn't provide a full-year forecast and said it expects to provide a broader outlook following a strategic review.
