July 30, 2025 • 5 mins
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Speaker 1 (00:01):
News when you want it with Bloomberg News. Now, I'm
Doug Chrisner, and we begin with trade. The US has
reached a deal with South Korea. A fifteen percent tariff
will now be placed on South Korean goods imported into
the US. In a post tonight on Truth Social President
Trump said Saul has also agreed to invest three hundred
and fifty billion dollars in the US and purchase one
(00:23):
hundred billion dollars worth of liquefied natural gas and other
energy products. Here is US Trade Rep. Jamison Greer, speaking
tonight on Fox News.
Speaker 2 (00:32):
Korea, as you know well, has always been very challenging
on trade for the United States. We've had an agreement
with them in past years, but our trade deathsit with
Korea has continued to be extensive. However, President Trump has
raised the natural leverage of the US market to really
obtain some significant concessions from the Koreans.
Speaker 1 (00:51):
That is US Trade Rep. Jamison Greer speaking there on
Fox News. Separately, President Trump and Mexican President Claudia Schidbaum
are planned to speak on the phone tomorrow morning. We
are told talks between the US and Mexico have reached
the point where decisions must be taken at the leaders level.
Earlier this year, Trump imposed a twenty five percent tariff
(01:11):
on Mexico, accusing the country of insufficient efforts to stop
fentanyl trafficking. But the impact of those tariffs has been
limited because Trump exempted goods that qualify for duty free
treatment under the US Mexico Canada Agreement, although it remains
unclear if that exemption would be continued in full or
even narrowed well. Despite pressure from President Trump, today, the
(01:35):
FED kept its policy rate unchanged while at the same
time downgrading its view of the American economy. The FED
sead growth moderated in early twenty twenty five, and in
its statement, the FED repeated that uncertainty about the economic
outlook remains elevated. Here is FED Shaer J. Powell.
Speaker 3 (01:53):
Despite elevated uncertainty, the economy is in a solid position.
The unemployment rate remains low, in the labor market is
at or near maximum employment. Inflation has been running somewhat
above our two percent longer run objective now.
Speaker 1 (02:07):
At the same time, Powell did not rule out a
rate cut at the FED September meeting.
Speaker 3 (02:12):
This is an intermeeting period when we'll get two full
rounds of employment and inflation data before the time of
the September meeting. We have made no decisions about September.
We don't do that in advance. We'll be taking that
information into consideration and all the other information we get
as we make our decision at the September meeting.
Speaker 1 (02:29):
That is FED shared J. Powell speaking to reporters. Incidentally,
FED governors Michelle Bowman and Christopher Waller both dissented in
favor of a quarter point rate cut. We moved to
earnings after the bell. We heard from Meta Platforms. The
company top second quarter sales expectations revenue at forty seven
and a half billion dollars, and the company also issued
(02:50):
a bullish forecast for the current period, saying sales could
be as much as fifty and a half billion dollars now.
This reflects continued strength in Meta's ad business. The company
also raised its forecast for capital spending in twenty twenty
five of up to seventy two billion dollars as Meta
ramps up investments in AI and AI infrastructure. Dan Ives
(03:13):
is the global head of Tech research at Webbush Securities.
Speaker 4 (03:17):
You have to think about it like what's the future
in terms of robotics, in terms of software, in terms
of how AI is going to play a role in
the every day of a consumer. I mean Meta is
thinking not in the next year, three, five, eight, ten
years out.
Speaker 1 (03:35):
That is dan ives from Webbush Securities. Shares and Meta
were up by as much as eleven percent in late
US trading. We also heard from Microsoft. The company reported
stronger than expected earnings, fueled by a thirty nine percent
jump in quarterly revenue for its Azure Cloud computing division.
Total cloud sales over the past year now seventy five
(03:56):
billion dollars. You know, this is the first time Microsoft
has disclosed Azure's annual revenue. Greg Halter is director of
research at Carnegie Investment Council.
Speaker 5 (04:07):
Usually they do beat I think it's been now only
three times four times over the last forty five periods
they have missed on earnings, and this is a larger
point of exceeding the estimate that they've had in seven periods.
Speaker 1 (04:23):
That was Greg Culter from the Carnegie Investment Council. Shares
and Microsoft were up by more than eight percent in
late US trading. Well. Also here from mag seven member
Amazon Tomorrow after the closing bell a preview now from
Bloomberg's Charlie Pellett.
Speaker 6 (04:37):
The focus for investors will be retail demand, Cloud AI growth,
and the impact of tariffs, gil Loria's head of Technology
research at DA Davidson.
Speaker 7 (04:48):
For Amazon, there's some impact, obviously a lot of their
sellers sell from China, but Amazon is so broad and
flexible and consumers can move their They're demand around.
Speaker 6 (05:01):
The analyst survey by Bloomberger are looking for earnings per
share of a dollar thirty two on revenue of one
hundred and sixty two point one billion dollars in New York.
Charlie Pellett, Bloomberg Radio.
Speaker 1 (05:14):
Kamala Harris will not run for governor of California in
twenty twenty six. In a statement on Wednesday, the former
Vice president cited deep reflection and her continued commitment to
helping Democrats nationwide. Harris was widely seen as a potential
front runner to replace Governor Gavin Newsom, who is term limited.
Speaker 7 (05:33):
Now.
Speaker 1 (05:33):
Her decision reshapes California's gubernatorial race for twenty twenty six,
and it also preserves a path toward a potential Harris
twenty twenty eight presidential campaign and that is news when
you want it with Bloomberg News. Now, I'm Doug prisoner
and this is Bloomberg
News when you want it with Bloomberg News. Now, I'm
Doug Chrisner, and we begin with trade. The US has
reached a deal with South Korea. A fifteen percent tariff
will now be placed on South Korean goods imported into
the US. In a post tonight on Truth Social President
Trump said Saul has also agreed to invest three hundred
and fifty billion dollars in the US and purchase one
(00:23):
hundred billion dollars worth of liquefied natural gas and other
energy products. Here is US Trade Rep. Jamison Greer, speaking
tonight on Fox News.
Speaker 2 (00:32):
Korea, as you know well, has always been very challenging
on trade for the United States. We've had an agreement
with them in past years, but our trade deathsit with
Korea has continued to be extensive. However, President Trump has
raised the natural leverage of the US market to really
obtain some significant concessions from the Koreans.
Speaker 1 (00:51):
That is US Trade Rep. Jamison Greer speaking there on
Fox News. Separately, President Trump and Mexican President Claudia Schidbaum
are planned to speak on the phone tomorrow morning. We
are told talks between the US and Mexico have reached
the point where decisions must be taken at the leaders level.
Earlier this year, Trump imposed a twenty five percent tariff
(01:11):
on Mexico, accusing the country of insufficient efforts to stop
fentanyl trafficking. But the impact of those tariffs has been
limited because Trump exempted goods that qualify for duty free
treatment under the US Mexico Canada Agreement, although it remains
unclear if that exemption would be continued in full or
even narrowed well. Despite pressure from President Trump, today, the
(01:35):
FED kept its policy rate unchanged while at the same
time downgrading its view of the American economy. The FED
sead growth moderated in early twenty twenty five, and in
its statement, the FED repeated that uncertainty about the economic
outlook remains elevated. Here is FED Shaer J. Powell.
Speaker 3 (01:53):
Despite elevated uncertainty, the economy is in a solid position.
The unemployment rate remains low, in the labor market is
at or near maximum employment. Inflation has been running somewhat
above our two percent longer run objective now.
Speaker 1 (02:07):
At the same time, Powell did not rule out a
rate cut at the FED September meeting.
Speaker 3 (02:12):
This is an intermeeting period when we'll get two full
rounds of employment and inflation data before the time of
the September meeting. We have made no decisions about September.
We don't do that in advance. We'll be taking that
information into consideration and all the other information we get
as we make our decision at the September meeting.
Speaker 1 (02:29):
That is FED shared J. Powell speaking to reporters. Incidentally,
FED governors Michelle Bowman and Christopher Waller both dissented in
favor of a quarter point rate cut. We moved to
earnings after the bell. We heard from Meta Platforms. The
company top second quarter sales expectations revenue at forty seven
and a half billion dollars, and the company also issued
(02:50):
a bullish forecast for the current period, saying sales could
be as much as fifty and a half billion dollars now.
This reflects continued strength in Meta's ad business. The company
also raised its forecast for capital spending in twenty twenty
five of up to seventy two billion dollars as Meta
ramps up investments in AI and AI infrastructure. Dan Ives
(03:13):
is the global head of Tech research at Webbush Securities.
Speaker 4 (03:17):
You have to think about it like what's the future
in terms of robotics, in terms of software, in terms
of how AI is going to play a role in
the every day of a consumer. I mean Meta is
thinking not in the next year, three, five, eight, ten
years out.
Speaker 1 (03:35):
That is dan ives from Webbush Securities. Shares and Meta
were up by as much as eleven percent in late
US trading. We also heard from Microsoft. The company reported
stronger than expected earnings, fueled by a thirty nine percent
jump in quarterly revenue for its Azure Cloud computing division.
Total cloud sales over the past year now seventy five
(03:56):
billion dollars. You know, this is the first time Microsoft
has disclosed Azure's annual revenue. Greg Halter is director of
research at Carnegie Investment Council.
Speaker 5 (04:07):
Usually they do beat I think it's been now only
three times four times over the last forty five periods
they have missed on earnings, and this is a larger
point of exceeding the estimate that they've had in seven periods.
Speaker 1 (04:23):
That was Greg Culter from the Carnegie Investment Council. Shares
and Microsoft were up by more than eight percent in
late US trading. Well. Also here from mag seven member
Amazon Tomorrow after the closing bell a preview now from
Bloomberg's Charlie Pellett.
Speaker 6 (04:37):
The focus for investors will be retail demand, Cloud AI growth,
and the impact of tariffs, gil Loria's head of Technology
research at DA Davidson.
Speaker 7 (04:48):
For Amazon, there's some impact, obviously a lot of their
sellers sell from China, but Amazon is so broad and
flexible and consumers can move their They're demand around.
Speaker 6 (05:01):
The analyst survey by Bloomberger are looking for earnings per
share of a dollar thirty two on revenue of one
hundred and sixty two point one billion dollars in New York.
Charlie Pellett, Bloomberg Radio.
Speaker 1 (05:14):
Kamala Harris will not run for governor of California in
twenty twenty six. In a statement on Wednesday, the former
Vice president cited deep reflection and her continued commitment to
helping Democrats nationwide. Harris was widely seen as a potential
front runner to replace Governor Gavin Newsom, who is term limited.
Speaker 7 (05:33):
Now.
Speaker 1 (05:33):
Her decision reshapes California's gubernatorial race for twenty twenty six,
and it also preserves a path toward a potential Harris
twenty twenty eight presidential campaign and that is news when
you want it with Bloomberg News. Now, I'm Doug prisoner
and this is Bloomberg
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