Bloomberg Daybreak: Asia Edition

US equity-index futures jumped in early trading and oil rebounded as President Donald Trump's administration signaled openness Sunday to a deal with China to quell fresh trade tensions while also warning that recent export controls announced by Beijing were a major barrier to talks. Vice President JD Vance called on Beijing to "choose the path of reason" in the latest spiraling trade fight between the world's two leading economies, claiming that Trump has more leverage if the fight drags on. Trump later posted a statement that hinted at a possible off-ramp for Chinese President Xi Jinping while issuing a veiled threat that a full trade war would wound China. For more, we spoke to Paul Dobson, Bloomberg's Executive Editor for Asia Markets. Plus - The bull market in US stocks is having its third anniversary on Sunday, but if history is any guide it needs to broaden out soon to keep running. The S&P 500 Index began its current bull run on Oct. 12, 2022, soaring 83% in that time and adding about $28 trillion in market value. While the gain was 88% before Friday's selloff on President Donald Trump's threat of a "massive increase" in tariffs on goods from China, the benchmark's 13% jump over the past 12 months is still twice the average rise in the third year of a bull market, according to CFRA Research. We speak to Frances Stacey, Wealth Manager at Scarlet Oak Financial.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. In the US – a look ahead to earnings for U.S banks. In the UK – a look ahead to the annual New Energy Finance summit in London. We also focus on a conversation with Citadel CEO Ken Griffin from Citadel’s securities conference on gold.  See omnystudio.com/listener for privacy information.

TSMC is poised to release its Q3 earnings report next week. The company is likely to excel, with both revenue and gross margins expected to defeat consensus supported by strong July-August sales data. TSMC is due to release its September sales data and the figures could offer some insight into wider semiconductor demand. We turn to Debby Wu, Team Leader for North Asia Technology at Bloomberg News. Plus, US stocks closed at a record on Wednesday, thanks to shares benefiting from the artificial-intelligence boom as traders parsed minutes from the Federal Reserve’s September meeting that showed a willingness to lower interest rates further this year. For more, we turn to Chuck Lieberman, Co-Founder & Chief Investment Officer at Advisors Capital Management.See omnystudio.com/listener for privacy information.

Spot gold prices climbed above $4,000 an ounce for the first time, as concerns over the US economy and a government shutdown added fresh momentum to a scorching rally. Bullion climbed as much as 0.4% to $4,001.01 an ounce on Wednesday. It’s a milestone moment for the metal that traded below $2,000 just two years ago, with returns that now well outstrip those for equities this century. Gold has jumped more than 50% this year in the face of uncertainties over global trade, the Federal Reserve’s independence and fiscal stability in the US. At the same time, geopolitical tensions have boosted demand for haven assets, while central banks have continued to buy gold at an elevated pace.  For more, we spoke to by Bill Adams, Chief Economist at Comerica Bank. Plus, Bank of Japan Governor Kazuo Ueda will likely face a tougher political environment in the second half of his five-year term starting Thursday after the ruling party leadership victory of Sanae Takaichi, a critic of interest rate increases. Ueda already faces a dilemma. The central bank appeared to be laying the groundwork for its first interest rate hike since January later this month. Now, following Takaichi's win, if Ueda goes ahead with an increase he risks antagonizing a premier who might then seek more sway over the BOJ's decisions going forward. For more, we spoke to Bloomberg's Paul Jackson.  See omnystudio.com/listener for privacy information.

A rally in chipmakers sent stocks to all-time highs as Advanced Micro Devices Inc.'s deal with OpenAI added fuel to the artificial-intelligence frenzy that has powered Wall Street. Bonds fell. The dollar rose. OpenAI will deploy 6 gigawatts' worth of AMD graphics processing units over multiple years, according to the pact, which is just over half the size of an agreement the AI startup recently reached with Nvidia. It also sets the stage for OpenAI to acquire a large stake in the chipmaker. The deal represents a high-stakes test for AMD — one that could deliver tens of billions of dollars in new revenue and burnish its status as a serious contender in AI technology. There are also risks: It further ties AMD's prosperity to an AI market that some worry is in a bubble. For more on the markets, we turn to Ed Butowsky, managing partner of Chapwood Investments. We turn to Japan, where they are set to have its first ever woman leader in Sanae Takaichi. Takaichi wants to become the country's version of her Idol, Margaret Tatcher. However, Bloomberg Opinion Columnist Gearoid Reidy writes that some might fear that she might be another Liz Truss. He joins us to explain.See omnystudio.com/listener for privacy information.

Japanese stocks rallied and the yen weakened after a ruling-party vote positioned pro-stimulus lawmaker Sanae Takaichi to become Japan's next leader. Takaichi is set to become Japan's first female prime minister after winning the Liberal Democratic Party leadership contest Saturday. Investors had expected the seat to go to political scion Shinjiro Koizumi, who was seen as taking a more fiscally cautious view and leaving the Bank of Japan to press ahead with normalization. While Takaichi's appointment has lifted growth expectations, it has also raised concern over increasing bond supply while reducing chances of a BOJ rate hike this month.  Elsewhere, gold advanced above $3,900 an ounce to yet another record, extending a rally that's been a feature of commodity markets all year. Bitcoin also set another all-time high over the weekend. Oil advanced after OPEC+ agreed Sunday to revive just 137,000 barrels a day of halted supply — a slower pace than earlier this year. Equity-index futures for the US also rose in early Asian trading. For more, we turn to Paul Dobson, Bloomberg's Executive Editor for Asia Markets. And for more reaction on Sanae Takaichi's win, we hard from Christopher LaFleur, Chairman at the American Chamber of Commerce in Japan. He spoke to Bloomberg's Shery Ahn and Avril Hong on the Asia Trade. See omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with Host Tom Busby take a look at some of the stories we'll be tracking in the coming week. In the US – a look ahead to the impact of lumber and timber tariffs on housing, and President Donald Trump’s Pfizer deal on drugmakers. In the UK – a look ahead to the Nobel Prize decisions. In Asia – a look ahead to the impact of the Golden Week holiday.  See omnystudio.com/listener for privacy information.

In the US, stocks just notched record highs thanks to the tech rally. That is despite an ongoing government shutdown. Meantime, emerging markets are facing challenges from political risks in South America to Asia's slowdown under tariffs. For more insights, we turn to Jeff Grills – Head of EM Debt at Aegon Asset Management. We go to Japan, where the country will get its second prime minister in just over a year when the ruling Liberal Democratic Party holds a leadership election this weekend. The new leader will replace outgoing Prime Minister Shigeru Ishiba, who was forced to resign after a historic upper house election loss in July. For more, we heard from David Boling, Eurasia Group Director for Japan and Asian Trade. Boling spoke to Bloomberg's Shery Ahn and Avril Hong on the Asia Trade. See omnystudio.com/listener for privacy information.

US stocks ended Wednesday's session higher, notching a new record and seemingly shrugging off the first government shutdown in nearly seven years. Treasuries rallied after private payrolls data reinforced bets that the Federal Reserve will lower interest rates later this month. Both the S&P 500 and the Nasdaq 100 rose for a fourth consecutive session. We spoke to John Pantekidis, Managing Partner at TwinFocus.Plus - Asian equities gained at the open after global stocks rallied to a new all-time high, shrugging off the first US government shutdown in nearly seven years. Stocks in Japan, South Korea and Australia all rose with gains in chips and technology stocks the most notable. We spoke to Ritesh Ganeriwal, Head of Investment & Advisory at Syfe.  See omnystudio.com/listener for privacy information.

The US government hurtled toward a Wednesday shutdown as Democrats blocked a Republican stopgap funding package that didn't address their demands, the latest sign that neither party was likely to fold in the final hours before a federal funding deadline. With no more votes planned in the Senate before a midnight deadline, the White House's Office of Management and Budget instructed government agencies to "execute their plans for an orderly shutdown." Despite the risk of a shutdown, US equities notched a second straight quarter of gains. We spoke to is Viraj Patel, Executive VP & Head of Asset Allocation at Fiduciary Trust International.Plus - China's Golden Week starts, with all eyes on consumption over the holiday. Millions are set to travel, shop, and dine during that time period. Their spending data will offer clues on whether deflationary pressures are easing and if policy support is translating into real economic activity. To encourage consumption, city governments are issuing coupons largely targeting autos, dining and tourism, while the central government released service-industry stimulus measures, including extended museum hours and more sports events. For more, we spoke to Catherine Lim, Senior Analyst: Consumer and Technology for Bloomberg Intelligence.  See omnystudio.com/listener for privacy information.

Stocks posted modest gains on Monday as concerns mounted about a looming US government shutdown possibly delaying the release of key labor-market data that could provide clues about how fast the Federal Reserve will cut interest rates. Vice President JD Vance said he believes the US government is on track to shut down, seeking to pin the blame on Democrats one day before federal funding is set to lapse. "I think we're headed into a shutdown because the Democrats won't do the right thing," Vance said Monday following a meeting with congressional leaders at the White House. "I hope they change their mind, but we're going to see." For more, we turn to Bill Campbell – Global Bond Portfolio Manager at DoubleLine. And  President Donald Trump's new plan to end the Gaza war is, in essence, an ultimatum to Hamas to release hostages, give up arms and surrender — or face the full force of the Israeli military with the US's explicit blessing. Trump said Israel would have his "full backing to finish the job" if Hamas rejects the offer, and Israeli troops and tanks are now in the heart of Gaza City, from which 800,000 Palestinians have fled. In that sense, the offer is familiar — and it is one that Hamas has repeatedly rejected over the course of the war. We heard from Kirstin Fontenrose, President of President of Red Six International. She spoke to Bloomberg's Avril Hong and Shery Ahn on the Asia Trade. See omnystudio.com/listener for privacy information.

In the US, top congressional leaders plan to meet with President Donald Trump on Monday, a day before federal funding would expire if an agreement on a short-term spending bill can't be reached. A shutdown would threaten the release of key data including Friday's payrolls report, key to assessing whether the Federal Reserve will continue cutting interest rates next month. We heard from James Abate, Managing Director, Head of Fundamental Strategies at Horizon Investments. And -  Asian stocks moved in a tight range at the open. Over the weekend, Chinese Industrial profits in August climbed 20.4% from a year earlier, the first increase in four months, according to data released Saturday by the National Bureau of Statistics. Factory deflation eased for the first time in six months. For more, we heard from Sian Fenner, Westpac Head of Business and Industry Economics. She spoke to Bloomberg's Avril Hong. See omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with Host Tom Busby take a look at some of the stories we'll be tracking in the coming week. In the US – a look ahead to the U.S jobs report and the Electric vehicle sector. In the UK – a look ahead to the Bloomberg Women, Money, Power conference in London. In Asia – a look ahead to the China PMI data. See omnystudio.com/listener for privacy information.

Stocks fell as valuation worries overshadowed data showing the economy is holding up. The figures didn't have much of an impact on Federal Reserve bets, but short-dated yields climbed. Bitcoin sank. Following a series of all-time highs, the S&P 500 dropped for a third straight session, the longest slide in a month. That's despite data showing US gross domestic product grew at the fastest pace in nearly two years. For more, we spoke to Brian Krawez, He's President and Chair of the Investment Committee at Scharf Investments. President Donald Trump advanced plans for American investors to buy TikTok's US operations from its Chinese owner ByteDance Ltd., with officials setting a potential value of $14 billion and outlining measures to ensure security of the new venture. In an executive order signed Thursday at the White House, Trump declared that the deal complies with a 2024 law requiring ByteDance to divest control or face a prohibition in the US of the popular video-sharing platform. Trump also reiterated that he had won approval from his Chinese counterpart, Xi Jinping, for the deal. We got reaction from Bloomberg's Annabelle Droulers. And at the same time, President Donald Trump announced a fresh round of tariffs, including a 100% duty on branded or patented pharmaceuticals starting October 1, unless a company is building a manufacturing plant in America. Trump posted on social media that there would be no levies on pharmaceutical imports if companies have broken ground on a US manufacturing plant, or if such a plant is under construction. We heard from Deborah Elms, Heinrich Foundation Head of Trade Policy. She spoke to Bloomberg's Shery Ahn and Avril Hong on the Asia Trade.See omnystudio.com/listener for privacy information.

Wall Street's torrid surge from April's meltdown is showing signs of exhaustion as stock traders await fresh catalysts amid risks stemming from a labor-market slowdown to sticky inflation.While the S&P 500 has defied September's gloomy reputation as the worst month for equity returns, the gauge failed to gain traction on Wednesday. The market ebullience saw the index notching almost 30 records in 2025, eclipsing the average year-end analyst forecast and spurring calls for consolidation. For more, we turn to Rebecca Walser, President at Walser Wealth Management. And, South Korea says investment projects in the US will remain in limbo until visa issues are resolved, in the wake of the Trump administration's immigration raid at a Hyundai-LG Energy battery plant in Georgia. South Korean Prime Minister Kim Min-seok sat down with Bloomberg's Shery Ahn in Seoul for an exclusive interview on the state of Korea-US relations, dealing with China & Japan, and the prospects of a Trump-Kim Jong Un meeting at next month's APEC summit in Gyeongju.See omnystudio.com/listener for privacy information.

A record-breaking rally in US equities came to a halt on Tuesday as interest-rate sensitive technology stocks extended an early decline after Federal Reserve Chair Jerome Powell gave no signs he would support a cut at the central bank’s October meeting. Micron Technology, the largest US maker of computer memory chips, gave an upbeat forecast for the current quarter after the market closed, which could offer fresh support to tech stocks when traders return. For more, we spoke to Rob Haworth, Senior Investment Strategy Director, U.S. Bank Asset Management Group. In Asia, stocks retreated after a drop in big tech halted the S&P 500’s three-day rally, while mixed signals from Federal Reserve policymakers clouded the path for interest-rate cuts. We heard from John Authers, Senior Editor for Markets and Bloomberg Opinion columnist. He speaks with Bloomberg’s Avril Hong on the Asia Trade.See omnystudio.com/listener for privacy information.

Wall Street traders defied calls for a breather after a $15 trillion stock rally from April lows, with Nvidia Corp. boosting optimism on artificial intelligence after pledging to invest as much as $100 billion in OpenAI. Tech led gains in the S&P 500, with the US equity benchmark hitting its 28th record this year. The world's largest chipmaker rallied about 4%. Its investment is intended to help OpenAI build data centers with a capacity of 10 gigawatts of power using Nvidia's advanced AI chips to train and deploy OpenAI's models. For a closer look at the market landscape, we hear from Michael Green, Chief Strategist at Simplify Asset Management.Meanwhile, Asian stocks posted a modest gain at the open. Gauges in Australia and South Korea rose while equity-index futures for Hong Kong — facing its most damaging typhoon since 2018 — were flat. For more on markets, we get the views of Daniel Lam, Head of Equity Strategy at Standard Chartered Wealth Solutions. He speaks with Bloomberg's Shery Ahn and Avril Hong on The Asia Trade.See omnystudio.com/listener for privacy information.

Wall Street closed out the highly anticipated Federal Reserve week with stocks notching fresh all-time highs as prospects for more rate cuts bolstered the outlook for corporate earnings. US President Donald Trump said Friday that he would meet Chinese President Xi Jinping on the sidelines of the upcoming Asia-Pacific Economic Cooperation summit and hailed progress toward finalizing a deal over TikTok, after a highly anticipated call on Friday. The in-person meeting would be the first between the leaders of the world's two largest economies since the US president returned to office, and settles an extended back-and-forth between Washington and Beijing around the venue and timing. The APEC summit is slated to be held in South Korea next month. We get perspective from Patrick Kennedy, Managing Partner at AllSource Investment Management.Meantime, Asian shares edged higher at the open, led by Japan, after the central bank eased concerns over plans to offload its massive exchange-traded fund holdings. The Nikkei-225 Index jumped 1.3% as trading kicked off in a new week, bouncing back after the Bank of Japan's comments on ETF sales spooked the markets Friday. Shares in Australia and South Korea also rose at the open. We get more on the markets from Alicia Garcia Herrero, Chief APAC Economist at Natixis. She speaks with Bloomberg's Shery Ahn and Avril Hong on The Asia Trade.See omnystudio.com/listener for privacy information.

Bloomberg Daybreak Weekend with Host Tom Busby take a look at some of the stories we'll be tracking in the coming week. In the US – how The K-Shaped Recession Hasn’t Hurt US Equities...Yet In the UK – Are Private Markets Entering Their Golden Age In Asia – a look at Stephen Miran's Impact on EM and the Dollar See omnystudio.com/listener for privacy information.

Wall Street's bets that Federal Reserve rate cuts will keep powering Corporate America drove stocks to all-time highs, with traders piling into the riskier corners of the market. The S&P 500, Nasdaq 100, Dow Jones Industrial Average and Russell 2000 small-cap index all closed at fresh highs on Thursday, for the first time since November 2021. An MSCI index of global stocks also closed at a record. We look at the market landscape with Shams Afzal, Managing Director at the Carnegie Investment Counsel.Plus - Fed Chair Jerome Powell managed against the odds to forge a near-unanimous consensus at this week's policy meeting, with new Governor Stephen Miran the only one to vote against the quarter-percentage-point interest-rate cut. Miran, a close ally of President Donald Trump who was just sworn into a temporary Fed position on Tuesday, dissented in favor of a larger reduction — something the president has been demanding for months. In her latest column, Bloomberg Opinion's Shuli Ren writes that one thing is clear following Miran's appointment: the dollar will get a lot weaker. She joins us to explain.See omnystudio.com/listener for privacy information.