May 29, 2025 • 27 mins
On today's podcast:
1) President Donald Trump’s tariff strategy has been thrown into turmoil after a US court issued a rare rebuke blocking many of the import taxes he has threatened and imposed on other countries.
2) Nvidia Corp. Chief Executive Officer Jensen Huang soothed investor fears about a China slowdown by delivering a solid sales forecast, saying that the AI computing market is still poised for “exponential growth.”
3) China blasted the Trump administration’s move to revoke the visas of Chinese students in the US, underscoring the fragility of a recent steadying of ties between the world’s largest economies.
See omnystudio.com/listener for privacy information.
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:02):
Bloomberg Audio Studios, Podcasts, Radio News.
Speaker 2 (00:10):
Good morning, I'm Nathan Hager and I'm Karen Moscow. Here
are the stories we're following today.
Speaker 3 (00:15):
Karen, we begin with new developments in the global trade war.
A three judge panel of the US Court of International
Trade has blocked many of President Donald Trump's tariffs on
imports from dozens of countries. The court has declared them illegal,
throwing his tariff strategy into turmoil. We get more from
Bloomberg News Senior editor Derek Wallbank.
Speaker 4 (00:35):
All of the Liberation's Day stuff that Donald Trump did,
the ten percent global reciprocal tariffs, the reciprocal trade deficit
based tariffs that were put on top of that, all
of that's done under this emergency authority, and essentially what
the court said was you can't do that, and you
have ten days to undo that. Now, the Trump administration
is appealing this decision, so it's possible that the US
(00:55):
Supreme Court may ultimately have the final say. It also
puts negotiations with foreign countries into a bit of a
question mark formation because the Trump administration now is negotiating
from a position of substantial more weakness, because there's a
possibility that even as countries negotiate, there may not be
a full threat on the other side of the Ledger.
Speaker 3 (01:17):
Bloomberg New Senior editor Derek Wallbank says the ruling does
not affect President Trump's first term levies on many imports
from China or sectoral duties planned or already imposed on
goods including steel and.
Speaker 2 (01:28):
Again, Nathan As We heard that Trump administration is already
promising to appeal. A White House spokesman says unelected judges
should not have the power to decide how to properly
address a national emergency. Commerce Secretary Howard Lutnek says the
tariffs are an important foreign policy tool and a filing
in this case. Lutenik says India and Pakistan only agreed
(01:50):
to a ceasefire this month after President Trump offered both
countries trading access, and even after the court's ruling, Japan's
top trade negotiator is still headed to Washington today for
a fourth round of talks with the US.
Speaker 3 (02:03):
As for the Wall Street reaction, Karen Goldman Sachs says
the ruling is only a temporary set back to the
president's trade agenda and can be offset by other taxes.
The Bank says the judgment halts six point seven percentage
points of levies announced this year, and the White House
could use other tariff tools to make up for that.
For full tarff coverage, stay with Bloomberg today, we speak
(02:23):
with White House Trade Counselor Peter Navarro. That's at eight
forty five Wall Street Time on Bloomberg Radio, Bloomberg Television,
and the Bloomberg Podcasts page on YouTube.
Speaker 2 (02:33):
Before this decision came down, Nathan wall Street, analysts have
been debating whether President Trump is willing to follow through
on his trade threats. A columnist for The Financial Times
coined the phrase the taco trade, as in Trump always
chickens out. President Trump was asked about it, and when
Whitehouser Marx heard on Bloomberg Radio.
Speaker 5 (02:53):
Kicking out, I've never heard that.
Speaker 6 (02:54):
You mean, because I reduced China from one hundred and
forty five percent that I set down to a high
hundred and then down to another number, and I said,
you have to open up your whole country. And because
I gave the European Union a fifty percent tax tariff,
and they called up and they said, please, let's meet
(03:15):
right now.
Speaker 5 (03:15):
Please, let's meet right now.
Speaker 2 (03:17):
President Trump says when it comes to backing away from
high tariff rates, it's called negotiation.
Speaker 3 (03:23):
Well, Karen, markets are getting a lift on the tariff ruling.
They are also seeing a boost from earnings from Nvidia.
Sales for the AI chip giant rose better than expected
sixty nine percent to forty four point one billion dollars,
and Nvidia says it expects revenue in the second fiscal
quarter to come in at about forty five billion. That's
despite new export restrictions costing about eight billion dollars in
(03:46):
Chinese revenue. We got reaction from Bloomberg Intelligence senior analyst
man Deep Singh.
Speaker 7 (03:52):
Had it not been for the China right down, this
company would have posted revenue which was five percent higher
than the forty four billion dollar number, and the guide
would have been almost fifteen to twenty percent higher. So
we're talking about eight billion in lost revenues. So clearly,
whatever they're doing, they are able to make up that
(04:12):
revenue lost in China with some other customers because it's
in line with consensus.
Speaker 3 (04:18):
That's Bloomberg Intelligence senior analyst man Deep saying, and shares
of Nvidia are up more than five percent in early trading.
Speaker 2 (04:25):
Nathan and Vidio CEO Jensen Wong is warning that Chinese
AI rivals are now more formidable. In an interview with
Bloomberg after the earnings report, Wong say's companies like Whuawei
and others are filling the void left by the American
departure from the Chinese market.
Speaker 8 (04:41):
Without American technology, the availability of Chinese technology will fill
the market. And so you know, whatever we offer has
to at least at least be competitive and has to
add value to the market.
Speaker 2 (04:54):
And Nvidio Jensen Wong added that US restrictions on exports
to China have effectively locked in Vida out of the country.
He joined Bloomberg's Ed Ludlow for a special edition of
Bloomberg Technology. For the full conversation, head over to the
Bloomberg podcast channel on YouTube.
Speaker 3 (05:09):
And Karen, there are new sources of tensions this morning
between the US and China. The US plans to start
aggressively revoking Chinese student visas. Let's get the latest done
that with Bloomberg's Lisa Matteo.
Speaker 5 (05:20):
Lisa, good morning, Good morning.
Speaker 9 (05:22):
Nathan is Secretary of State Mark or Rubio making that
announcement in a statement saying that it would include those
with connections to the Chinese Communist Party or studying in
critical fields. Now, the US will also be taking a
closer look at future visa applications from the People's Republic
of China and Hong Kong and that decision. While it
comes just weeks after the US and China negotiated a
(05:42):
truce in their tower for and now, China blasting the move,
its Foreign Ministry spokeswoman Mounting, calling it quote politicized and discriminatory,
adding that it's only going to further undermine the US's
image in the world and national reputation. China had the
second most students in the US of any country in
twenty twenty four, just behind India. Lisa Matteo Bloomberg Radio.
Speaker 2 (06:05):
All Right, Lisa, thank you. Elon Musk time as formal
advisor to President Trump is coming to a close as
his business empire remains in flux. Bloomberge. John Tucker joins
us with the latest. John, Good morning, Hey, Good morning, Karen.
Speaker 10 (06:17):
This move comes shortly after he gave an interview on
CBS critical of President Trump's biggest legislative priority is not
doing enough to reduce federal deficits.
Speaker 11 (06:27):
I was like disappointed to see the massive spending vote. Frankly,
which increases the budge, deps that not does decrease it,
and that reminds the work that the Dosch team.
Speaker 12 (06:39):
Is doing well.
Speaker 10 (06:40):
By law. Must's status as a temporary government official was
set to run out as soon as May thirtieth. A
White House official said, Must began the off boarding process
last night. A MUST campaign to slash the size of
the US government sent shockways through Washington, with some agencies
eliminated outright and tens of thousands of Fender workers purge
or convinced to accept buyouts. But the initiative fell short
(07:03):
of its own high expectations for cost savings and the
backlash against Moss Smart concerns among investors. A Tesla vehicle sales,
for instance, fell to a nearly three year low in
the first quarter of the year. The stock brace plummeted
a pre market Tesla right now almost three percent. I'm
John Tucker, Bloomberg Radio.
Speaker 3 (07:21):
All right, John, thank you, and Tesla plans to launch
it's long awaited robotaxi service in Texas on June twelfth,
that's two weeks from today. Bloomberg News has learned the
company's been testing autonomous vehicles in Austin, including a recent
test with no one behind the wheel. Sources tell Bloomberg
the previously unreported date was discussed internally and could still change.
Tesla plans to start with a fleet of around ten
(07:42):
self driving robotaxis in Austin, before expanding to one thousand
within a few months.
Speaker 2 (07:50):
Much time now for a look at some of the
other stories making news in New York and around the world,
and for that we're joined by Bloomberg's Michael Barr Michael
Good Morning, Good.
Speaker 13 (07:58):
Morning, Karina. Judge quickly denied a request for a mistrial
during the third week of the Seawan Diddy Coombe sex
trafficking trial. The request came after the testimony of an
arts and investigator who responded to Kid Cuddy's home when
the rapper's car was torched with a Molotov cocktail. Defense
attorneys have said Combs was simply not involved and there's
(08:19):
no way to unring this bell. Reality stars Julie and
Todd Chris Lee aren't the only people getting presidential partners
from Donald Trump. John Rowland was governor of Connecticut when
he was jailed for drafting a fake consulting contract. New
York Congressman Michael Grimm got busted for tax evasion. President
Trump also says he's open to partnering the men who
(08:40):
were convicted in a plot kidnap Michigan Governor Gretchen Whitmer.
Speaker 6 (08:45):
I'm going to look at it. I will take a
look at it. It's been brought to my attention. I
did watch the trial. It looked to me like somewhat
of a railroad job. I'll be honest with you.
Speaker 13 (08:55):
Fourteen men were charged and nine were convicted. There's growing
pressure on Israel to agree to a ceasefire plan put
together by the White House mewhile families in Gaza stormed
to un warehouse for much needed food. Doctor Farah Sidwa
is an American trauma and general surgeon who volunteered in Gaza.
Speaker 4 (09:14):
Gaza is a disaster and it's the main impact it's
having is on children and on the healthcare workers themselves,
as far as I can tell.
Speaker 13 (09:21):
Doctor Sidway spoke to ABC. Harvard says many of its
foreign students are seeking to transfer from the university. It
comes after the Trump administration. It's targeting Ivy League schools,
particularly Harvard by casting them as ideologically biased and is
taking action to limit their ability to enroll foreign students.
Global news twenty four hours a day and whenever you
(09:42):
want it with the Bloomberg News Now. I'm Michael Barr,
and this is Bloomberg Karen.
Speaker 2 (09:46):
All right, Michael Barr, thank you time now for the
Bloomberg Sports Update. Here's John Stashauer.
Speaker 1 (09:56):
John, good morning, Good morning care and all the conference
finals in the NBA and Stanley Cup playoffs. Three to
one after four games in the first of the Game fives,
the team ahead in the series able to win an
advance in the NBA. That's Oklahoma City a blowout win
over Minnesota. The Thunder led twenty six to nine after
the first quarter, sixty five to thirty two at halftime.
(10:17):
They won by thirty. It's ok c's first NBA finals
since twenty sixteen. Florida Panthers lost Game four to Carolina,
and the Hurricanes were up two to nothing second period
of Game five. Panthers then scored three times in the second.
Carolina tied it up eight and a half minutes in
the third, still three to three about four minutes later,
so for Coola.
Speaker 5 (10:35):
Cop took hal top on it harded it down. They'll
work it into the Carolina's home park off for the quarter.
Speaker 13 (10:42):
Took five one last park sex to three stars cover river.
Speaker 7 (10:50):
Hegy fights to one it up, inside of it in
and he puts on the Florida back to club.
Speaker 1 (10:56):
Full three tes and the call. Panthers had an empty
end of one, five to three. They're head of the
Cup Final for the third year in a row. The
next face in elimination back home for their Game five
with Indiana tonight will vad hell Nick's only three and
five at the Garden in the playoffs, Pacers are six
and one on the road. They're also eleven to oher
in games other than game threes. Yankees and Anaheim scoring
(11:17):
on the first inning and that was it one nothing
went over the Angels with Clark Schmidt and three relievers
team on a five hitter. Yanks sweep the series. They've
won sixteen their last twenty. That Matt's four game winsprey
game to an end of nine to four home loss
to the White six.
Speaker 5 (11:30):
John stash I went at Bloomberg Schools.
Speaker 7 (11:32):
Karen n.
Speaker 14 (11:34):
Coast to Coast on Bloomberg Radio nationwide on Sirius XM.
Speaker 9 (11:39):
And around the world on Bloomberg dot Com and the
Bloomberg Business app.
Speaker 5 (11:43):
This is Bloomberg Daybreak. Good morning, I'm Nathan Hager.
Speaker 3 (11:46):
A centerpiece of President Donald Trump's economic agenda has just
been upended. The US Court of International Trade has ruled
the President's liberation de tariff's illegal, giving him up to
ten days to start removing them. Stocks are rallying this morning,
but Prince Blasset Management Chief Global strategist see Miashaw says
she's not sure this will last.
Speaker 9 (12:04):
President Trump is going to find of the means to
push through his agenda. I think if anything, actually just
prolongs the uncertainty.
Speaker 3 (12:11):
Seemshaw with Principal Asset for this morning. We're joined by
Bloomberg New Senior editor Bill Ferries. Bill, Good morning. Walk
us through this decision and what this means for where
President Trump's trade agenda stands now, Good morning.
Speaker 14 (12:22):
Good morning, Nathan. Yeah, it is a potential body blow
to the Trump administration's plan for tariffs and a big
source of revenue. We'll have to see how this plays out.
But the US Trade Court here ruling unanimous three to
zero decision that the Trump administrations. Many of the Trump
administration's tariffs are illegal and have to be removed within
(12:44):
ten days. This is not all of the tariffs, but
it's a lot of the ones we're most familiar with
from the last few months in office. They include the
tariffs against China, Mexico, and Canada over the trade and fentanyl,
that kind of ten percent across the board, flat rate
tariff against just about every country in the world. That's
(13:07):
the tariff. Those reciprocal tariffs are getting in the middle
negotiations right now. There are still some tariffs, mostly dating
back to the first Trump administration, that remain in place.
But the court essentially argued here that the administration's use
of a national security threat to impose these tariffs was
not valid. They said, listen, things like fentanyl, things like
(13:30):
the trade deficit that the administration cited, they may be
problems for the US, but they're not national security threats
that allow you to do this. So the Justice Department
has already announced that they plan to appeal the decision.
It could be at the Supreme Court within a matter
of probably weeks, and we don't know how that will go.
(13:51):
But for right now, you see the market reaction. It
is potentially a big blow against this administration.
Speaker 3 (13:58):
So while this potentially continues to play out in court, bill,
what could this mean for trade flows? What could this
mean for trade negotiations that presumably are still underway.
Speaker 14 (14:09):
It really just throws another volatile ranch into the whole process.
So you have those negotiations ongoing. I think they're going
to continue as you're as that quote you used in
the leading into the segment said, President Trump is a
he's a tariff guy.
Speaker 5 (14:25):
It's his favorite tool he is.
Speaker 14 (14:27):
If this is ruled out, he's going to try to
find another tool that allows him.
Speaker 5 (14:32):
To impose tariffs.
Speaker 14 (14:33):
So I think it mostly just means the uncertainty and
the volatility are going to continue for a while.
Speaker 3 (14:39):
In our last thirty seconds, could this be overridden by Congress?
I understand there's a bill that would give the president
broad tariff authority.
Speaker 5 (14:47):
Is that going anywhere? Well, there's always that potential.
Speaker 14 (14:50):
I mean, we haven't seen. You know, every vote in
Congress continues to go down to the wire because of
the tight margins the Republicans have. I don't think you're
going to get a lot of Democratic votes for that
kind of legislation. So, but the president does have other tools.
He used them in his first term. He may have
to try to use them again if this ruling stands Okay.
Speaker 3 (15:12):
Bill Ferries, senior editor for Bloomberg News, on the breaking
news from overnight to many of President Donald Trump's tariffs
deemed illegal in US international court.
Speaker 2 (15:23):
Karen Nathan repeating some of our top stories this morning.
President Trump is bristling at the idea of a taco
trade around his tariff threats, or Trump always chickens out,
The president says when he backs away from high tariff threats,
it's called negotiation.
Speaker 3 (15:40):
Secretary of State Marco Rubio says the US will start
aggressively revoking visas for Chinese students, with a focus on
links to the Chinese Communist Party. China says the move
will harm people to people relations.
Speaker 2 (15:51):
Annie La Moss says his time as a formal advisor
to President Trump is coming to a close. The billionaire's
role as a special government employee was set to run
as soon as tomorrow. We have more on those stories
coming up on Bloomberg Daybreak. But now you want to
turn back to our interview with Nvidia CEO Jensen Wong.
He joined Bloomberg Technology host ed Ludlow after the chip
(16:13):
giant reported an outbeat sales forecast. Long says Nvidia is
still poised for exponential growth, and he also taught competition
in China.
Speaker 5 (16:22):
Let's listen in.
Speaker 8 (16:23):
We got a whole bunch of engines firing right now.
The biggest one, of course, is the reasoning AI inference.
Speaker 5 (16:30):
The demand is just off the charts.
Speaker 8 (16:34):
You see the popularity of all these AI services now, Chat, GBT, Gemini,
you know, so on and so forth, GROC. I mean,
they're just doing incredibly well across the board, and all
of the APIs that they serve out and all the
agentic AI services that are built on top of them,
they're all doing incredibly well. I think that there's just
a giant breakthrough in AI's capability, and inferencing has just
(16:59):
become a giant workload. Second, people realize that Blackwell is
just a home run Vealing seventy two is a home
run architecture. We designed it to be a thinking machine,
a reasoning AI system. And I think people now the
confluence of the breakthrough and reasoning AI and the availability
that now the emergence of Grace Blackwell and vealing seventy two,
(17:21):
perfect timing. I think that that's at the core a
big part of it. And the second part of it
is that our supply chain is growing and we're really
ramping it up, and they're doing fantastically for us, and
so all of these things are all coming together, and.
Speaker 15 (17:35):
So it is fair to say that some of that
additional supply on Blackwell and the demand for black Bell
kind of made up for the opportunity lost in China,
at least in the outlook for this current period.
Speaker 5 (17:47):
Yeah, I guess so.
Speaker 8 (17:48):
But you can't underestimate the importance of the China market.
This is the second largest AI market. This is the
home of the world's largest population of AI researchers, and
we want all of the world's AI researchers and all
of the world's developers to be building on American stacks.
And so, irrespective of the nearer term revenue success that
(18:14):
we have, we can't ignore the fact that the Chinese
market is very important.
Speaker 15 (18:18):
You explained again in some detail that at least in
the Hopper architecture, you have engineered down to the lowest
spec possible.
Speaker 5 (18:26):
It's not possible to do.
Speaker 15 (18:28):
Anything different with Hopper for the Chinese market. But in
your consideration for a different architecture or a chip for
the Chinese market, is that what we're talking about, a
new design or new class And have you made that
proposal to the administration just designing from the ground up
a new chip.
Speaker 5 (18:46):
We're still thinking through that.
Speaker 8 (18:48):
They're just the limitations are quite quite stringent, quite limited,
if you will. H twenty is as far down as
we could take a hopper. We don't know how to
make it even even less, and so that's really the limit.
But but so there aren't there are you know, the
(19:10):
limitations are quite stringent, so we have we have to
really think through it. Whatever we make ultimately has to
add value to the market. And so it's it's a
really tight rope because because the Chinese competitors have evolved
and advanced greatly over the last year, like everybody else,
they're you know, doubling, quadrupling their capabilities every year, and
(19:32):
the volume is increasing substantially. And remember these are data
center chips.
Speaker 5 (19:36):
They don't have to be.
Speaker 8 (19:37):
Small, they could be quite large, and and and you
know they without American technology, the availability of Chinese technology
will fail the market. And so you know, we whatever
we offer has to at least at least be competitive
and has to add value to the market.
Speaker 15 (19:55):
Tensen, does Juawei have an AI accelerator or a GPU
that is performance is H twenty or is performance of
other classes of GPU that you.
Speaker 8 (20:05):
Make Huawei's technology, based on our best understanding at the moment,
and we have a lot of ground truth there is
probably comparable to an Age two hundred. They've been moving
quite fast, and they've also offered this news system called
cloud Matrix that is scales up to even a larger
(20:27):
system than our latest generation Grace Blackwell. Huawei, as you know,
is a formidable technology company, and they're not sitting still
and they look for ways to look for ways to compete.
They're quite formidable.
Speaker 3 (20:40):
And that was in Vidia CEO Jensen Wong speaking with
Ed Ludlow on a special edition of Bloomberg Technology following
the AI chip Giant's latest earnings. For some more morning
after reaction, we're joined by Dan Ives, global head of
Technology research at Webbush Securities. Great to have you back
with us, Dan, I know you've been bullish on Nvidia
for some time, so I'll ask these latest results from
(21:02):
the AI chip Giant meet or exceed your expectations.
Speaker 5 (21:06):
Good morning, exceed.
Speaker 12 (21:08):
The godfather of AI, Jensen Nvidio delivered in a huge
fashion because even when you take out the China number
demand that ship and supply EA to one. And I
think this is what investors wonder focus. I'm goad to
ask about it in terms of Middle East sovereigns. There's
(21:29):
one ship in the world, few on the AI revolution,
and that's in videos.
Speaker 3 (21:34):
When you hear Jensen Wang say that the Chinese AI
market is quadrupling their abilities, does that give you any
reason to have any concern about where Nvidia could be
going from here.
Speaker 12 (21:51):
I think that's the smart mood that he's saying, because
the reality is is that he doesn't want Trump because
of the restrictions essentially having in video handing over a
good piece of their China business to Walway. And that's
a sense of what's happening to about eight billion in
the next quarter. You know that that basically they had
to take out because of it. So I think it's
(22:13):
this is all a game of high stakes poker. And
that's a little shot across the bow from Jensen to
Trump saying, look, you stop tying our hands behind our back,
let us go after the China market.
Speaker 5 (22:27):
Well, if the.
Speaker 3 (22:28):
Hands are tied behind the back, at least for now.
I mentioned the eight billion dollars in potential China revenue
that they're going to have to write down in the
next quarter.
Speaker 5 (22:38):
How do you see in video making that up?
Speaker 12 (22:40):
Look, Middle East and sovereigns are going to make up
a good piece. Okay, eight's one, so they want ultimately
a seat in the front the China. But when you
look over the long term, China is going to have
to be a market that reopens in video, and I
(23:01):
think Trump administration recognized that to some extent. Jensen recognized that,
And I think the market is basically saying, like, look,
in video without China is probably a four trillion or marquas.
Any improvement on these negotiations and you get to a
much higher stop because there's only one ship that's feeling
(23:26):
the AI revolution. It's a video.
Speaker 3 (23:28):
So do you see in video providing any other products
that could fill the gap, at least in the short term.
Wog mentioned that the H two zero chip can't necessarily
fill that gap as much as he'd like, But are
there other tools in the toolbox for in video?
Speaker 5 (23:47):
In China.
Speaker 12 (23:48):
Well, I think there are, and I think that the
market is basically reading through and saying, over the next
three to six months, they're going to figure out some
strict did ship that they could basically sell into China.
And that's why the eight billion next quarter, it's probably
half of that that ultimately disappears, right. I think they're
(24:08):
definitely going to get back a piece of that. But Nathan,
when you think about autonomous robotics, the use cases consumer,
it's a fourth Industrial revolution and that is not being
stopped this AI party. It's still ten pm. It was
(24:29):
nine pm, and it goes to four am, and Trump's
not shutting down that AI party in.
Speaker 3 (24:36):
The time we have left, Dane, I want to get
your reaction to this ruling from the US Trade Court
on President Trump's tariffs deeming them illegal. What does that
mean for the market structure going forward?
Speaker 12 (24:49):
I think it just this has been the anticipation about
this ruling, what was going to come through, and I
think it just shows that a lot of these tariffs,
like trump mistation, is going to have to fight through
to ultimately try to get them back, and the market's
basically saying not so fast. It's bullish, and I think
it shows to some sort of compromise that they're going
(25:11):
to have to come to. Because you can't bully the courts,
you can't bully the market. And I think more and
more you're seeing the Trump administration takes steps back on
these towers. So you've seen it step by step, take
steps back since April second.
Speaker 5 (25:30):
So just quickly, the taco trade is a thing for you.
Speaker 12 (25:34):
Look, I think the reality is where the boy cry wolf.
However you want to think about it. EU being a
good example, Friday Memorial Day, forty eight hours later, the
wait a month Apple moving iPhone production to the US.
That's a fairytale. So you have to you have to
get to what the reality is of the situation versus
(25:55):
the threats and the market's trying to game it out.
And that's why I write Now the bears they're in
their caves in hibernation mode and they're scared with paper.
Speaker 2 (26:06):
This is Bloomberg Daybreak, your morning podcast on the stories
making news from Wall Street to Washington and beyond.
Speaker 3 (26:13):
Look for us on your podcast feed by six am
Eastern each morning, on Apple, Spotify, or anywhere else you listen.
Speaker 2 (26:19):
You can also listen live each morning starting at five
am Wall Street Time on Bloomberg eleven three to zero
in New York, Bloomberg ninety nine to one in Washington,
Bloomberg ninety two nine in Boston, and nationwide on serious
XM Channel one twenty one.
Speaker 5 (26:34):
Plus.
Speaker 3 (26:34):
Listen coast to coast on the Bloomberg Business App now
with Applecarplay and Android auto interfaces.
Speaker 2 (26:39):
And don't forget to subscribe to Bloomberg News Now. It's
the latest news whenever you want it in five minutes
or less. Search Bloomberg News Now on your favorite podcast
platform to stay informed all day long. I'm Karen Moscow.
Speaker 3 (26:52):
And I'm Nathan Hager. Join us again tomorrow morning for
all the news you need to start your day right
here on Bloomberg Day Bray
Bloomberg Audio Studios, Podcasts, Radio News.
Speaker 2 (00:10):
Good morning, I'm Nathan Hager and I'm Karen Moscow. Here
are the stories we're following today.
Speaker 3 (00:15):
Karen, we begin with new developments in the global trade war.
A three judge panel of the US Court of International
Trade has blocked many of President Donald Trump's tariffs on
imports from dozens of countries. The court has declared them illegal,
throwing his tariff strategy into turmoil. We get more from
Bloomberg News Senior editor Derek Wallbank.
Speaker 4 (00:35):
All of the Liberation's Day stuff that Donald Trump did,
the ten percent global reciprocal tariffs, the reciprocal trade deficit
based tariffs that were put on top of that, all
of that's done under this emergency authority, and essentially what
the court said was you can't do that, and you
have ten days to undo that. Now, the Trump administration
is appealing this decision, so it's possible that the US
(00:55):
Supreme Court may ultimately have the final say. It also
puts negotiations with foreign countries into a bit of a
question mark formation because the Trump administration now is negotiating
from a position of substantial more weakness, because there's a
possibility that even as countries negotiate, there may not be
a full threat on the other side of the Ledger.
Speaker 3 (01:17):
Bloomberg New Senior editor Derek Wallbank says the ruling does
not affect President Trump's first term levies on many imports
from China or sectoral duties planned or already imposed on
goods including steel and.
Speaker 2 (01:28):
Again, Nathan As We heard that Trump administration is already
promising to appeal. A White House spokesman says unelected judges
should not have the power to decide how to properly
address a national emergency. Commerce Secretary Howard Lutnek says the
tariffs are an important foreign policy tool and a filing
in this case. Lutenik says India and Pakistan only agreed
(01:50):
to a ceasefire this month after President Trump offered both
countries trading access, and even after the court's ruling, Japan's
top trade negotiator is still headed to Washington today for
a fourth round of talks with the US.
Speaker 3 (02:03):
As for the Wall Street reaction, Karen Goldman Sachs says
the ruling is only a temporary set back to the
president's trade agenda and can be offset by other taxes.
The Bank says the judgment halts six point seven percentage
points of levies announced this year, and the White House
could use other tariff tools to make up for that.
For full tarff coverage, stay with Bloomberg today, we speak
(02:23):
with White House Trade Counselor Peter Navarro. That's at eight
forty five Wall Street Time on Bloomberg Radio, Bloomberg Television,
and the Bloomberg Podcasts page on YouTube.
Speaker 2 (02:33):
Before this decision came down, Nathan wall Street, analysts have
been debating whether President Trump is willing to follow through
on his trade threats. A columnist for The Financial Times
coined the phrase the taco trade, as in Trump always
chickens out. President Trump was asked about it, and when
Whitehouser Marx heard on Bloomberg Radio.
Speaker 5 (02:53):
Kicking out, I've never heard that.
Speaker 6 (02:54):
You mean, because I reduced China from one hundred and
forty five percent that I set down to a high
hundred and then down to another number, and I said,
you have to open up your whole country. And because
I gave the European Union a fifty percent tax tariff,
and they called up and they said, please, let's meet
(03:15):
right now.
Speaker 5 (03:15):
Please, let's meet right now.
Speaker 2 (03:17):
President Trump says when it comes to backing away from
high tariff rates, it's called negotiation.
Speaker 3 (03:23):
Well, Karen, markets are getting a lift on the tariff ruling.
They are also seeing a boost from earnings from Nvidia.
Sales for the AI chip giant rose better than expected
sixty nine percent to forty four point one billion dollars,
and Nvidia says it expects revenue in the second fiscal
quarter to come in at about forty five billion. That's
despite new export restrictions costing about eight billion dollars in
(03:46):
Chinese revenue. We got reaction from Bloomberg Intelligence senior analyst
man Deep Singh.
Speaker 7 (03:52):
Had it not been for the China right down, this
company would have posted revenue which was five percent higher
than the forty four billion dollar number, and the guide
would have been almost fifteen to twenty percent higher. So
we're talking about eight billion in lost revenues. So clearly,
whatever they're doing, they are able to make up that
(04:12):
revenue lost in China with some other customers because it's
in line with consensus.
Speaker 3 (04:18):
That's Bloomberg Intelligence senior analyst man Deep saying, and shares
of Nvidia are up more than five percent in early trading.
Speaker 2 (04:25):
Nathan and Vidio CEO Jensen Wong is warning that Chinese
AI rivals are now more formidable. In an interview with
Bloomberg after the earnings report, Wong say's companies like Whuawei
and others are filling the void left by the American
departure from the Chinese market.
Speaker 8 (04:41):
Without American technology, the availability of Chinese technology will fill
the market. And so you know, whatever we offer has
to at least at least be competitive and has to
add value to the market.
Speaker 2 (04:54):
And Nvidio Jensen Wong added that US restrictions on exports
to China have effectively locked in Vida out of the country.
He joined Bloomberg's Ed Ludlow for a special edition of
Bloomberg Technology. For the full conversation, head over to the
Bloomberg podcast channel on YouTube.
Speaker 3 (05:09):
And Karen, there are new sources of tensions this morning
between the US and China. The US plans to start
aggressively revoking Chinese student visas. Let's get the latest done
that with Bloomberg's Lisa Matteo.
Speaker 5 (05:20):
Lisa, good morning, Good morning.
Speaker 9 (05:22):
Nathan is Secretary of State Mark or Rubio making that
announcement in a statement saying that it would include those
with connections to the Chinese Communist Party or studying in
critical fields. Now, the US will also be taking a
closer look at future visa applications from the People's Republic
of China and Hong Kong and that decision. While it
comes just weeks after the US and China negotiated a
(05:42):
truce in their tower for and now, China blasting the move,
its Foreign Ministry spokeswoman Mounting, calling it quote politicized and discriminatory,
adding that it's only going to further undermine the US's
image in the world and national reputation. China had the
second most students in the US of any country in
twenty twenty four, just behind India. Lisa Matteo Bloomberg Radio.
Speaker 2 (06:05):
All Right, Lisa, thank you. Elon Musk time as formal
advisor to President Trump is coming to a close as
his business empire remains in flux. Bloomberge. John Tucker joins
us with the latest. John, Good morning, Hey, Good morning, Karen.
Speaker 10 (06:17):
This move comes shortly after he gave an interview on
CBS critical of President Trump's biggest legislative priority is not
doing enough to reduce federal deficits.
Speaker 11 (06:27):
I was like disappointed to see the massive spending vote. Frankly,
which increases the budge, deps that not does decrease it,
and that reminds the work that the Dosch team.
Speaker 12 (06:39):
Is doing well.
Speaker 10 (06:40):
By law. Must's status as a temporary government official was
set to run out as soon as May thirtieth. A
White House official said, Must began the off boarding process
last night. A MUST campaign to slash the size of
the US government sent shockways through Washington, with some agencies
eliminated outright and tens of thousands of Fender workers purge
or convinced to accept buyouts. But the initiative fell short
(07:03):
of its own high expectations for cost savings and the
backlash against Moss Smart concerns among investors. A Tesla vehicle sales,
for instance, fell to a nearly three year low in
the first quarter of the year. The stock brace plummeted
a pre market Tesla right now almost three percent. I'm
John Tucker, Bloomberg Radio.
Speaker 3 (07:21):
All right, John, thank you, and Tesla plans to launch
it's long awaited robotaxi service in Texas on June twelfth,
that's two weeks from today. Bloomberg News has learned the
company's been testing autonomous vehicles in Austin, including a recent
test with no one behind the wheel. Sources tell Bloomberg
the previously unreported date was discussed internally and could still change.
Tesla plans to start with a fleet of around ten
(07:42):
self driving robotaxis in Austin, before expanding to one thousand
within a few months.
Speaker 2 (07:50):
Much time now for a look at some of the
other stories making news in New York and around the world,
and for that we're joined by Bloomberg's Michael Barr Michael
Good Morning, Good.
Speaker 13 (07:58):
Morning, Karina. Judge quickly denied a request for a mistrial
during the third week of the Seawan Diddy Coombe sex
trafficking trial. The request came after the testimony of an
arts and investigator who responded to Kid Cuddy's home when
the rapper's car was torched with a Molotov cocktail. Defense
attorneys have said Combs was simply not involved and there's
(08:19):
no way to unring this bell. Reality stars Julie and
Todd Chris Lee aren't the only people getting presidential partners
from Donald Trump. John Rowland was governor of Connecticut when
he was jailed for drafting a fake consulting contract. New
York Congressman Michael Grimm got busted for tax evasion. President
Trump also says he's open to partnering the men who
(08:40):
were convicted in a plot kidnap Michigan Governor Gretchen Whitmer.
Speaker 6 (08:45):
I'm going to look at it. I will take a
look at it. It's been brought to my attention. I
did watch the trial. It looked to me like somewhat
of a railroad job. I'll be honest with you.
Speaker 13 (08:55):
Fourteen men were charged and nine were convicted. There's growing
pressure on Israel to agree to a ceasefire plan put
together by the White House mewhile families in Gaza stormed
to un warehouse for much needed food. Doctor Farah Sidwa
is an American trauma and general surgeon who volunteered in Gaza.
Speaker 4 (09:14):
Gaza is a disaster and it's the main impact it's
having is on children and on the healthcare workers themselves,
as far as I can tell.
Speaker 13 (09:21):
Doctor Sidway spoke to ABC. Harvard says many of its
foreign students are seeking to transfer from the university. It
comes after the Trump administration. It's targeting Ivy League schools,
particularly Harvard by casting them as ideologically biased and is
taking action to limit their ability to enroll foreign students.
Global news twenty four hours a day and whenever you
(09:42):
want it with the Bloomberg News Now. I'm Michael Barr,
and this is Bloomberg Karen.
Speaker 2 (09:46):
All right, Michael Barr, thank you time now for the
Bloomberg Sports Update. Here's John Stashauer.
Speaker 1 (09:56):
John, good morning, Good morning care and all the conference
finals in the NBA and Stanley Cup playoffs. Three to
one after four games in the first of the Game fives,
the team ahead in the series able to win an
advance in the NBA. That's Oklahoma City a blowout win
over Minnesota. The Thunder led twenty six to nine after
the first quarter, sixty five to thirty two at halftime.
(10:17):
They won by thirty. It's ok c's first NBA finals
since twenty sixteen. Florida Panthers lost Game four to Carolina,
and the Hurricanes were up two to nothing second period
of Game five. Panthers then scored three times in the second.
Carolina tied it up eight and a half minutes in
the third, still three to three about four minutes later,
so for Coola.
Speaker 5 (10:35):
Cop took hal top on it harded it down. They'll
work it into the Carolina's home park off for the quarter.
Speaker 13 (10:42):
Took five one last park sex to three stars cover river.
Speaker 7 (10:50):
Hegy fights to one it up, inside of it in
and he puts on the Florida back to club.
Speaker 1 (10:56):
Full three tes and the call. Panthers had an empty
end of one, five to three. They're head of the
Cup Final for the third year in a row. The
next face in elimination back home for their Game five
with Indiana tonight will vad hell Nick's only three and
five at the Garden in the playoffs, Pacers are six
and one on the road. They're also eleven to oher
in games other than game threes. Yankees and Anaheim scoring
(11:17):
on the first inning and that was it one nothing
went over the Angels with Clark Schmidt and three relievers
team on a five hitter. Yanks sweep the series. They've
won sixteen their last twenty. That Matt's four game winsprey
game to an end of nine to four home loss
to the White six.
Speaker 5 (11:30):
John stash I went at Bloomberg Schools.
Speaker 7 (11:32):
Karen n.
Speaker 14 (11:34):
Coast to Coast on Bloomberg Radio nationwide on Sirius XM.
Speaker 9 (11:39):
And around the world on Bloomberg dot Com and the
Bloomberg Business app.
Speaker 5 (11:43):
This is Bloomberg Daybreak. Good morning, I'm Nathan Hager.
Speaker 3 (11:46):
A centerpiece of President Donald Trump's economic agenda has just
been upended. The US Court of International Trade has ruled
the President's liberation de tariff's illegal, giving him up to
ten days to start removing them. Stocks are rallying this morning,
but Prince Blasset Management Chief Global strategist see Miashaw says
she's not sure this will last.
Speaker 9 (12:04):
President Trump is going to find of the means to
push through his agenda. I think if anything, actually just
prolongs the uncertainty.
Speaker 3 (12:11):
Seemshaw with Principal Asset for this morning. We're joined by
Bloomberg New Senior editor Bill Ferries. Bill, Good morning. Walk
us through this decision and what this means for where
President Trump's trade agenda stands now, Good morning.
Speaker 14 (12:22):
Good morning, Nathan. Yeah, it is a potential body blow
to the Trump administration's plan for tariffs and a big
source of revenue. We'll have to see how this plays out.
But the US Trade Court here ruling unanimous three to
zero decision that the Trump administrations. Many of the Trump
administration's tariffs are illegal and have to be removed within
(12:44):
ten days. This is not all of the tariffs, but
it's a lot of the ones we're most familiar with
from the last few months in office. They include the
tariffs against China, Mexico, and Canada over the trade and fentanyl,
that kind of ten percent across the board, flat rate
tariff against just about every country in the world. That's
(13:07):
the tariff. Those reciprocal tariffs are getting in the middle
negotiations right now. There are still some tariffs, mostly dating
back to the first Trump administration, that remain in place.
But the court essentially argued here that the administration's use
of a national security threat to impose these tariffs was
not valid. They said, listen, things like fentanyl, things like
(13:30):
the trade deficit that the administration cited, they may be
problems for the US, but they're not national security threats
that allow you to do this. So the Justice Department
has already announced that they plan to appeal the decision.
It could be at the Supreme Court within a matter
of probably weeks, and we don't know how that will go.
(13:51):
But for right now, you see the market reaction. It
is potentially a big blow against this administration.
Speaker 3 (13:58):
So while this potentially continues to play out in court, bill,
what could this mean for trade flows? What could this
mean for trade negotiations that presumably are still underway.
Speaker 14 (14:09):
It really just throws another volatile ranch into the whole process.
So you have those negotiations ongoing. I think they're going
to continue as you're as that quote you used in
the leading into the segment said, President Trump is a
he's a tariff guy.
Speaker 5 (14:25):
It's his favorite tool he is.
Speaker 14 (14:27):
If this is ruled out, he's going to try to
find another tool that allows him.
Speaker 5 (14:32):
To impose tariffs.
Speaker 14 (14:33):
So I think it mostly just means the uncertainty and
the volatility are going to continue for a while.
Speaker 3 (14:39):
In our last thirty seconds, could this be overridden by Congress?
I understand there's a bill that would give the president
broad tariff authority.
Speaker 5 (14:47):
Is that going anywhere? Well, there's always that potential.
Speaker 14 (14:50):
I mean, we haven't seen. You know, every vote in
Congress continues to go down to the wire because of
the tight margins the Republicans have. I don't think you're
going to get a lot of Democratic votes for that
kind of legislation. So, but the president does have other tools.
He used them in his first term. He may have
to try to use them again if this ruling stands Okay.
Speaker 3 (15:12):
Bill Ferries, senior editor for Bloomberg News, on the breaking
news from overnight to many of President Donald Trump's tariffs
deemed illegal in US international court.
Speaker 2 (15:23):
Karen Nathan repeating some of our top stories this morning.
President Trump is bristling at the idea of a taco
trade around his tariff threats, or Trump always chickens out,
The president says when he backs away from high tariff threats,
it's called negotiation.
Speaker 3 (15:40):
Secretary of State Marco Rubio says the US will start
aggressively revoking visas for Chinese students, with a focus on
links to the Chinese Communist Party. China says the move
will harm people to people relations.
Speaker 2 (15:51):
Annie La Moss says his time as a formal advisor
to President Trump is coming to a close. The billionaire's
role as a special government employee was set to run
as soon as tomorrow. We have more on those stories
coming up on Bloomberg Daybreak. But now you want to
turn back to our interview with Nvidia CEO Jensen Wong.
He joined Bloomberg Technology host ed Ludlow after the chip
(16:13):
giant reported an outbeat sales forecast. Long says Nvidia is
still poised for exponential growth, and he also taught competition
in China.
Speaker 5 (16:22):
Let's listen in.
Speaker 8 (16:23):
We got a whole bunch of engines firing right now.
The biggest one, of course, is the reasoning AI inference.
Speaker 5 (16:30):
The demand is just off the charts.
Speaker 8 (16:34):
You see the popularity of all these AI services now, Chat, GBT, Gemini,
you know, so on and so forth, GROC. I mean,
they're just doing incredibly well across the board, and all
of the APIs that they serve out and all the
agentic AI services that are built on top of them,
they're all doing incredibly well. I think that there's just
a giant breakthrough in AI's capability, and inferencing has just
(16:59):
become a giant workload. Second, people realize that Blackwell is
just a home run Vealing seventy two is a home
run architecture. We designed it to be a thinking machine,
a reasoning AI system. And I think people now the
confluence of the breakthrough and reasoning AI and the availability
that now the emergence of Grace Blackwell and vealing seventy two,
(17:21):
perfect timing. I think that that's at the core a
big part of it. And the second part of it
is that our supply chain is growing and we're really
ramping it up, and they're doing fantastically for us, and
so all of these things are all coming together, and.
Speaker 15 (17:35):
So it is fair to say that some of that
additional supply on Blackwell and the demand for black Bell
kind of made up for the opportunity lost in China,
at least in the outlook for this current period.
Speaker 5 (17:47):
Yeah, I guess so.
Speaker 8 (17:48):
But you can't underestimate the importance of the China market.
This is the second largest AI market. This is the
home of the world's largest population of AI researchers, and
we want all of the world's AI researchers and all
of the world's developers to be building on American stacks.
And so, irrespective of the nearer term revenue success that
(18:14):
we have, we can't ignore the fact that the Chinese
market is very important.
Speaker 15 (18:18):
You explained again in some detail that at least in
the Hopper architecture, you have engineered down to the lowest
spec possible.
Speaker 5 (18:26):
It's not possible to do.
Speaker 15 (18:28):
Anything different with Hopper for the Chinese market. But in
your consideration for a different architecture or a chip for
the Chinese market, is that what we're talking about, a
new design or new class And have you made that
proposal to the administration just designing from the ground up
a new chip.
Speaker 5 (18:46):
We're still thinking through that.
Speaker 8 (18:48):
They're just the limitations are quite quite stringent, quite limited,
if you will. H twenty is as far down as
we could take a hopper. We don't know how to
make it even even less, and so that's really the limit.
But but so there aren't there are you know, the
(19:10):
limitations are quite stringent, so we have we have to
really think through it. Whatever we make ultimately has to
add value to the market. And so it's it's a
really tight rope because because the Chinese competitors have evolved
and advanced greatly over the last year, like everybody else,
they're you know, doubling, quadrupling their capabilities every year, and
(19:32):
the volume is increasing substantially. And remember these are data
center chips.
Speaker 5 (19:36):
They don't have to be.
Speaker 8 (19:37):
Small, they could be quite large, and and and you
know they without American technology, the availability of Chinese technology
will fail the market. And so you know, we whatever
we offer has to at least at least be competitive
and has to add value to the market.
Speaker 15 (19:55):
Tensen, does Juawei have an AI accelerator or a GPU
that is performance is H twenty or is performance of
other classes of GPU that you.
Speaker 8 (20:05):
Make Huawei's technology, based on our best understanding at the moment,
and we have a lot of ground truth there is
probably comparable to an Age two hundred. They've been moving
quite fast, and they've also offered this news system called
cloud Matrix that is scales up to even a larger
(20:27):
system than our latest generation Grace Blackwell. Huawei, as you know,
is a formidable technology company, and they're not sitting still
and they look for ways to look for ways to compete.
They're quite formidable.
Speaker 3 (20:40):
And that was in Vidia CEO Jensen Wong speaking with
Ed Ludlow on a special edition of Bloomberg Technology following
the AI chip Giant's latest earnings. For some more morning
after reaction, we're joined by Dan Ives, global head of
Technology research at Webbush Securities. Great to have you back
with us, Dan, I know you've been bullish on Nvidia
for some time, so I'll ask these latest results from
(21:02):
the AI chip Giant meet or exceed your expectations.
Speaker 5 (21:06):
Good morning, exceed.
Speaker 12 (21:08):
The godfather of AI, Jensen Nvidio delivered in a huge
fashion because even when you take out the China number
demand that ship and supply EA to one. And I
think this is what investors wonder focus. I'm goad to
ask about it in terms of Middle East sovereigns. There's
(21:29):
one ship in the world, few on the AI revolution,
and that's in videos.
Speaker 3 (21:34):
When you hear Jensen Wang say that the Chinese AI
market is quadrupling their abilities, does that give you any
reason to have any concern about where Nvidia could be
going from here.
Speaker 12 (21:51):
I think that's the smart mood that he's saying, because
the reality is is that he doesn't want Trump because
of the restrictions essentially having in video handing over a
good piece of their China business to Walway. And that's
a sense of what's happening to about eight billion in
the next quarter. You know that that basically they had
to take out because of it. So I think it's
(22:13):
this is all a game of high stakes poker. And
that's a little shot across the bow from Jensen to
Trump saying, look, you stop tying our hands behind our back,
let us go after the China market.
Speaker 5 (22:27):
Well, if the.
Speaker 3 (22:28):
Hands are tied behind the back, at least for now.
I mentioned the eight billion dollars in potential China revenue
that they're going to have to write down in the
next quarter.
Speaker 5 (22:38):
How do you see in video making that up?
Speaker 12 (22:40):
Look, Middle East and sovereigns are going to make up
a good piece. Okay, eight's one, so they want ultimately
a seat in the front the China. But when you
look over the long term, China is going to have
to be a market that reopens in video, and I
(23:01):
think Trump administration recognized that to some extent. Jensen recognized that,
And I think the market is basically saying, like, look,
in video without China is probably a four trillion or marquas.
Any improvement on these negotiations and you get to a
much higher stop because there's only one ship that's feeling
(23:26):
the AI revolution. It's a video.
Speaker 3 (23:28):
So do you see in video providing any other products
that could fill the gap, at least in the short term.
Wog mentioned that the H two zero chip can't necessarily
fill that gap as much as he'd like, But are
there other tools in the toolbox for in video?
Speaker 5 (23:47):
In China.
Speaker 12 (23:48):
Well, I think there are, and I think that the
market is basically reading through and saying, over the next
three to six months, they're going to figure out some
strict did ship that they could basically sell into China.
And that's why the eight billion next quarter, it's probably
half of that that ultimately disappears, right. I think they're
(24:08):
definitely going to get back a piece of that. But Nathan,
when you think about autonomous robotics, the use cases consumer,
it's a fourth Industrial revolution and that is not being
stopped this AI party. It's still ten pm. It was
(24:29):
nine pm, and it goes to four am, and Trump's
not shutting down that AI party in.
Speaker 3 (24:36):
The time we have left, Dane, I want to get
your reaction to this ruling from the US Trade Court
on President Trump's tariffs deeming them illegal. What does that
mean for the market structure going forward?
Speaker 12 (24:49):
I think it just this has been the anticipation about
this ruling, what was going to come through, and I
think it just shows that a lot of these tariffs,
like trump mistation, is going to have to fight through
to ultimately try to get them back, and the market's
basically saying not so fast. It's bullish, and I think
it shows to some sort of compromise that they're going
(25:11):
to have to come to. Because you can't bully the courts,
you can't bully the market. And I think more and
more you're seeing the Trump administration takes steps back on
these towers. So you've seen it step by step, take
steps back since April second.
Speaker 5 (25:30):
So just quickly, the taco trade is a thing for you.
Speaker 12 (25:34):
Look, I think the reality is where the boy cry wolf.
However you want to think about it. EU being a
good example, Friday Memorial Day, forty eight hours later, the
wait a month Apple moving iPhone production to the US.
That's a fairytale. So you have to you have to
get to what the reality is of the situation versus
(25:55):
the threats and the market's trying to game it out.
And that's why I write Now the bears they're in
their caves in hibernation mode and they're scared with paper.
Speaker 2 (26:06):
This is Bloomberg Daybreak, your morning podcast on the stories
making news from Wall Street to Washington and beyond.
Speaker 3 (26:13):
Look for us on your podcast feed by six am
Eastern each morning, on Apple, Spotify, or anywhere else you listen.
Speaker 2 (26:19):
You can also listen live each morning starting at five
am Wall Street Time on Bloomberg eleven three to zero
in New York, Bloomberg ninety nine to one in Washington,
Bloomberg ninety two nine in Boston, and nationwide on serious
XM Channel one twenty one.
Speaker 5 (26:34):
Plus.
Speaker 3 (26:34):
Listen coast to coast on the Bloomberg Business App now
with Applecarplay and Android auto interfaces.
Speaker 2 (26:39):
And don't forget to subscribe to Bloomberg News Now. It's
the latest news whenever you want it in five minutes
or less. Search Bloomberg News Now on your favorite podcast
platform to stay informed all day long. I'm Karen Moscow.
Speaker 3 (26:52):
And I'm Nathan Hager. Join us again tomorrow morning for
all the news you need to start your day right
here on Bloomberg Day Bray
Popular Podcasts
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations. Follow now to get the latest episodes of Dateline NBC completely free, or subscribe to Dateline Premium for ad-free listening and exclusive bonus content: DatelinePremium.com
24/7 News: The Latest
The latest news in 4 minutes updated every hour, every day.