Bloomberg Daybreak: Asia Edition

Nvidia Corp. delivered a surprisingly strong revenue forecast and pushed back on the idea that the AI industry is in a bubble, easing concerns that had spread across the tech sector. The world's most valuable company expects sales of about $65 billion in the January quarter — roughly $3 billion more than analysts predicted. Nvidia also said that a half-trillion-dollar revenue bonanza due in coming quarters may be even bigger than anticipated. The outlook signals that demand remains robust for Nvidia's artificial intelligence accelerators, the pricey and powerful chips used to develop AI models. Nvidia had faced growing fears in recent weeks that the runaway spending on such equipment wasn't sustainable. And we heard from CEO Jensen Huang. He spoke to Bloomberg's Ed Ludlow. Plus - Many Federal Reserve officials said it would likely be appropriate to keep interest rates steady for the remainder of 2025, according to minutes of the Federal Open Market Committee's October 28-29 meeting. The record of the meeting, released Wednesday in Washington, also showed "several" policymakers were against lowering the Fed's benchmark rate at that gathering. "Many participants suggested that, under their economic outlooks, it would likely be appropriate to keep the target range unchanged for the rest of the year," the minutes said. Still, "several participants" said another cut "could well be appropriate in December if the economy evolved about as they expected" before the next meeting. For his perspective, we spoke to Clayton Triick, Head of Portfolio Management: Public Strategies, Angel Oak Capital Advisors. See omnystudio.com/listener for privacy information.

Nvidia, the world's most valuable company, is set to deliver a quarterly report Wednesday that could assure Wall Street that the AI computing boom continues apace — or fuel fears that the tech industry is in a bubble. Chief Executive Officer Jensen Huang said late last month that he has orders that will deliver $500 billion of revenue over the next few quarters and that spending on new equipment is increasingly paying off for customers. Still, the bubble fears have contributed to a recent stock selloff, with investors fretting that capital spending on artificial intelligence infrastructure will create a glut. For a preview, we speak to Jed Ellerbroek, Portfolio Manager at Argent Capital Management. Plus - the New Economy Forum in Singapore has begun. Bloomberg had the chance to catch up with top business names. That includes Bob Diamond, Atlas Mechant Capital founding partner and CEO and former Barclays CEO. He spoke to Bloomberg's Shery Ahn and Avril Hong. See omnystudio.com/listener for privacy information.

US equities retreated ahead of Nvidia earnings. Matt Sallee, Executive Vice President, Head of Investments at Tortoise Capital shares what he's expecting across the AI trade. Bitcoin drops sharply from its October high. Kelvin Tay, Regional CIO for UBS Global Wealth Management, discusses what's driving the price action of markets in the Asia Pacifc. Plus, 'Baby Shark' creator Pinkfong's IPO in South Korea. Shares jumped as much as 62% on their trading debut as investors snapped up the studio behind YouTube’s most-viewed jingle. See omnystudio.com/listener for privacy information.

Crucial data will arrive for investors this week. Nvidia will report earnings, with the chipmaker seen as a bellwether for the AI trade. US weekly jobless claims data and September payrolls are set to release on Thursday. Chris Maxey, Managing Director and Chief Market Strategist at Wealthspire Advisors, discusses how these reports will impact the markets. Plus, Japan's 3Q GDP saw its the first decline in six quarters. Trinh Nguyen, Natixis Emerging Markets Asia Economist, provides a cautious outlook for emerging markets in 2026. See omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week. See omnystudio.com/listener for privacy information.

Asian stocks fell after uncertainty over Federal Reserve interest-rate cuts and stretched valuations in technology shares dragged Wall Street lower. Gauges in Japan, South Korea and Australia all opened weaker, even as an index of the region was poised for its third gain in four weeks. We then take you to the Citi China Conference in Shanghai, where Citi CEO Jane Fraser spoke to Bloomberg's Stephen Engle. They discussed Citi's growing presence in China, the current state of the US economy, and her views on how to deploy AI in the financial sector. In the states, investors are bracing for a flurry of economic data now that the government shut-down is over. Stocks fell, led by a decline in tech stocks was met by concern that the Federal Reserve's plans for a December rate cut maybe in doubt. For a closer look, we spoke to Mike Green, Chief Strategist and Portfolio Manager for Simplify Asset Management. See omnystudio.com/listener for privacy information.

Global shares held a three-day gain that took them to within touching distance of a record high as the US House passed a bill to end the longest-ever government shutdown. Asian shares and the MSCI All Country World Index fluctuated between small gains and losses as investors stayed cautious with limited economic data clouding the outlook for Federal Reserve policy. Yifan Hu, Chief Investment Officer and Head of APAC Macroeconomics at UBS Wealth Management spoke to Bloomberg's Annabelle Droulers and Yvonne Man and she gave her outlook on the Chinese economy. Plus - The Dow Jones Industrial Average climbed for a fourth straight day in anticipation ahead of the end of the record breaking US government shutdown. For more on the markets, we spoke to Mike Dickson, Head of Research & Quantitative Strategies at Horizon Investments. See omnystudio.com/listener for privacy information.

China's Singles Day shopping festival is off to a record start. E-commerce giant JD.com says orders jumped nearly 60%, with shoppers up 40% from last year — defying concerns that deflation is weighing on consumer demand. In the U.S., there's growing optimism the government shutdown will end soon. UBS Managing Director and Financial Advisor Xi Qiao tells Bloomberg's Shery Ahn and Avril Hong what that could mean for Asia. Plus, the Dow Jones closed at a record high as investors piled into stocks beyond the AI giants. Merck was among the day's top gainers. We get perspective from Dean Smith, Chief Strategist and Marketing Officer at FolioBeyond. See omnystudio.com/listener for privacy information.

Asian stocks advanced for a second consecutive day as progress toward ending the record-long US government shutdown lifted sentiment, sparking a cross-asset rally from commodities to cryptocurrencies. President Donald Trump said he "at some point" would reduce the tariff rate on Indian goods, saying the US was getting "pretty close" to a trade deal with New Delhi."Right now they don't love me, but they'll love us again," Trump said. "We're getting a fair deal." Trump later predicted the nations were "pretty close to doing a deal that's good for everybody." The comments were the latest signal of a possible thaw in the trade dispute that has soured the relationship between the US and India. We heard from Kurt Campbell, Chairman and Co-Founder of The Asia Group. He spoke to Bloomberg's Paul Allen at the UBS Australasia Summit. In the states - Wall Street traders piled into riskier corners of the market, with stocks climbing alongside Bitcoin as the US Senate advanced a plan to end the longest-ever government shutdown, which would remove a significant economic headwind. Bonds lost steam. The risk-on bid lifted the S&P 500 by 1.5%. Technology megacaps, which had been hit the hardest in recent sessions, saw their biggest advance since May. We spoke to Chuck Cumello, President & Chief Executive Officer of Essex Financial. See omnystudio.com/listener for privacy information.

The record-breaking US government shutdown is nearing an end after a group of moderate Senate Democrats agreed to support a deal to reopen the government and fund some departments and agencies for the next year, people familiar with the talks said. Under the agreement, Congress would pass full-year funding for the departments of Agriculture, Veterans Affairs and Congress itself, while funding other agencies through Jan. 30. The bill would provide pay for furloughed government workers, resume withheld federal payments to states and localities and recall agency employees who were laid off during the shutdown. US stock-index futures jumped in early Asian trading. For more on the early market action in Asia, we turn to Paul Dobson, Bloomberg's Executive Editor for Asia Markets. Plus - the US Government shutdown has delayed the release of two monthly jobs reports and may also impact the release of a key inflation snapshot, creating a data fog for the Federal Reserve. The absence of official reports on inflation and the job market will prolong the debate about whether another rate cut is needed at the Fed's December meeting, with some economists predicting that October's figures would have supported a rate cut. Fed officials will have to rely on retroactive surveys and private-sector reports to inform their decisions, with several appearances by Fed officials in the coming week, including John Williams, Raphael Bostic, Stephen Miran, and Alberto Musalem, being closely watched by investors. We speak to Chris Carey, Portfolio Manager, Carnegie Investment Counsel. See omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week. See omnystudio.com/listener for privacy information.

Asian equities fell after Wall Street shares declined, weighed down by concerns over stretched artificial intelligence valuations and signs of a cooling labor market. The MSCI Asia Pacific Index slipped 0.6%, led by declines in Japan, putting the gauge on track for its first drop in three weeks. US equity benchmarks dropped for the second time in three sessions with AI-related stocks such as Nvidia Corp. tumbling, while a closely watched volatility gauge spiked. We heard from Pruksa Iamthongthong, Aberdeen Investments Head of Equities Asia Pacific. She spoke to Bloomberg's Yvonne Man and David Ingles. Plus - Tesla Inc. shareholders approved a $1 trillion compensation package for Chief Executive Officer Elon Musk, the largest payout ever awarded to a corporate leader. The pay agreement clears a path for Musk, the world's richest person, to become the first-ever trillionaire and expand his stake in Tesla to 25% or more over the next decade. To achieve the full payout, he'll have to deliver on targets to significantly expand Tesla's market value, revive its flagging car business and get the fledgling robotaxi and Optimus robotics efforts off the ground. And in the US, volatility lashed Wall Street, with strong evidence of a cooling labor market pushing high-valuation tech stocks and crypto to big losses while bonds rallied on bets the Federal Reserve will cut rates. We spoke to Clark Geranen, Chief Investment Officer, CalBay Investments. See omnystudio.com/listener for privacy information.

Asian stocks rose at the open, following Wall Street's lead, where buyers stepped in after a brief retreat in technology shares and signs of a resilient US labor market boosted investor sentiment. Also in the states, the US Supreme Court appeared skeptical of President Donald Trump's sweeping global tariffs, as key justices suggested he had overstepped his authority with his signature economic policy. We speak to Mark Cranfield, Bloomberg MLIV Strategist. Plus - While Wall Street didn't see a buying stampede, equities were able to bounce following a slide that underscored worries over how stretched the market has become and how sensitive it is to unfavorable news. Chipmakers, which bore the brunt of the recent selling, jumped on Wednesday. For more on the markets, we speak to Robert Schein, Chief Investment Officer, Blanke Schein Wealth Management. See omnystudio.com/listener for privacy information.

In the US, risky assets slid, with tech stocks and cryptocurrencies bearing the brunt of the selling, after long-simmering concerns about lofty valuations were fanned anew by a chorus of Wall Street executives who warned investors to brace for a pullback. In South Korea, the equity benchmark slumped as valuation concerns hammered recent winners such as chip stocks, defense and shipbuilders. For more on the latest market action, we heard from Anna Wu, VanEck Cross-Asset Investment Specialist. She spoke to Bloomberg's Shery Ahn and Avril Hong. Plus - we go to Singapore, where we speak to Sandeep Malhotra, Mastercard Executive Vice President for Core Payments in Asia Pacific. He talks about how technology, partnerships, and regulation are redefining how money moves across the region. From real-time payments to cross-border interoperability and the role of AI in fraud prevention, Malhotra shares how Mastercard is modernizing its core network while supporting financial inclusion. We also explore how consumer behavior and digital infrastructure in Asia are influencing global payment trends. See omnystudio.com/listener for privacy information.

Goldman Sachs Chairman and CEO David Solomon discusses US-China Trade Relations and M&A Activity. Solomon spoke to Bloomberg's Yvonne Man and David Ingles on the sidelines of the Hong Kong Monetary Authority's Global Financial Leaders' Investment Summit. Plus - The start of what's known as the best month of the year for stocks saw tech rallying as Amazon.com Inc.'s $38 billion deal with OpenAI added fuel to the artificial-intelligence trade. We speak to Brad Bernstein, Managing Director at UBS Private Wealth Management. See omnystudio.com/listener for privacy information.

China will effectively suspend implementation of additional export controls on rare earth metals and terminate investigations targeting US companies in the semiconductor supply chain, the White House announced. The White House issued a fact sheet on Saturday outlining some details of the trade pact agreed to earlier this week by President Donald Trump and Chinese leader Xi Jinping that aimed to ease tensions between the world's largest economies. Also, there were some PMI releases across Asia. That would include South Korea and Taiwan. For more on the US-China trade fallout and the latest eco data, we turn to Paul Dobson, Bloomberg's Executive Editor for Asia Markets. Plus - More than half of S&P 500 companies have reported quarterly results and Uber Technologies and McDonald's earnings will likely underscore deteriorating consumer sentiment in the US. Meantime, last week Big Tech was in the spotlight for 5 key players. For more on what to look out for in the week ahead, we speak to Carol Schleif, Chief Investment Officer at BMO Private Wealth. See omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week See omnystudio.com/listener for privacy information.

US President Donald Trump emerged from his meeting with Chinese leader Xi Jinping beaming, labeling the conversation "truly great. "But the one-year truce struck on Thursday in South Korea is likely to only stabilize relations between the world's two largest economies rather than resolve fundamental differences, with both sides buying time to further reduce dependence on each other in strategic areas. And it made clear just how much stronger China has become since Trump's first term in office. Trump's move to cut the fentanyl tariff and extend the existing truce on reciprocal tariffs will leave many products facing a levy around 47%, low enough for China's massive manufacturing base to remain competitive with regional rivals. Just as significantly, the US agreed to suspend a rule expanding restrictions on blacklisted Chinese firms, showing that Xi's sweeping rare earth curbs could potentially put a cap on new US export controls — something China has sought for years. We heard from Max Baucus, former US Ambassador to China. He spoke to Bloomberg's Shery Ahn and Avril Hong. Plus - in the US, after the bell, Amazon reported third quarter results that beat analyst estimates driven by its cloud business growth. Apple meantime, reported revenue in Greater China fell well short of analysts' estimates in the latest quarter. We speak to Ross Mayfield, Investment Strategist for Baird Private Wealth Management. See omnystudio.com/listener for privacy information.

In the late hours in the US, Alphabet Inc. reported solid sales. Meta Platforms Inc. sees total expenses to significantly rise in 2026. Microsoft Corp.'s expansion in its Azure unit failed to inspire traders. For more on the latest earnings, we turn to Daniel Newman, CEO of the Futurum Group. Plus - Federal Reserve Chair Jerome Powell's blunt warning that investors need to rein in expectations for a December interest-rate cut underscored a growing tug-of-war among US policymakers who are opposed in their outlooks for jobs and inflation. While Powell made it clear that the primary concern for some is a cooling job market, others inside the Fed are warning persistent inflation will limit room for more easing. And a freeze on the release of official economic data during the ongoing government shutdown is only hardening the divide.Powell's comments came after the Federal Open Market Committee voted 10-2 to lower the target range for the federal funds rate by a quarter percentage point, to 3.75%-4%. It was the second straight rate cut, but for the first time in six years, there were dissents in both directions — with one official advocating a larger reduction and another preferring to stay on hold. For more, we turn to Sean Clark, Chief Investment Officer at Clark Capital. **Disclaimer, at the time of this recording, US President Donald Trump and Chinese President Xi Jinping have not met yet. They are set to meet later on Thursday in South Korea (local time). See omnystudio.com/listener for privacy information.

Asian markets opened higher, lifted by Wall Street optimism that artificial intelligence will keep powering tech profits — and growing bets the Fed could cut rates. Stocks gained in Japan and South Korea, while Hong Kong remained closed for a holiday. The yen strengthened after Treasury Secretary Scott Bessent urged Japan's new government to give the Bank of Japan more room to fight inflation — a contrast to his message for the Fed at home. For more, we'll hear from Bloomberg MLIV Strategist Mark Cranfield. In the U.S., a rally in big tech pushed stocks to record highs as investors bet AI will keep driving earnings. Five major tech firms report later this week — key tests for whether spending on AI infrastructure keeps paying off. We spoke to Scott Ladner, Chief Investment Officer at Horizon. See omnystudio.com/listener for privacy information.