Bloomberg Markets: European Close 08/03/2023
Bloomberg Markets European Close. Live from New York and London, analyzing the major market moving stories across the day in Europe, hear from the biggest newsmakers and showcase the unrivaled expertise of Bloomberg News. (Source: Bloomberg) #press
Elon Musk Says Treasury Bills Are ‘No-Brainer’
Elon Musk sees a lot to like at the shortest end of the Treasury curve. #press
Mexican Peso’s Rally Falters as Investors Sour on Risk
The Mexican peso led global losses on Thursday amid a fresh bout of global risk aversion, supporting calls on Wall Street that the currency was set to fall after a torrid seven-month rally. #press
Pristine AAA Bond Universe Just Got a Whole Lot Smaller
The pristine universe of triple-A rated countries got a whole lot smaller this week after the US was stripped of its top-tier rating. #press
Amgen Sales Drive Profit Guidance Even as New Drugs Falter
Amgen Inc. raised its profit and revenue guidance for the year as the drugmaker’s overall second-quarter results exceeded Wall Street analysts’ expectations despite the underperformance of two key products. #press
Private Equity Firm Advent Pauses Subway Pursuit as Auction Process Drags On
Advent International has stopped working on a potential deal for Subway as the auction of the sandwich chain drags on, according to people familiar with the matter. #press
Bonds Slide Before Jobs; Amazon Up in Late Trading: Markets Wrap
The slide in the world’s biggest bond market deepened and stocks fell ahead of the US jobs report, which is expected to provide clues on the outlook for the Federal Reserve’s next steps. #press
We Are In An Unstable Situation: Dynan
Karen Dynan, Harvard Kennedy School Professor, discusses the outlook for federal debt. She speaks with David Westin on "Wall Street Week Daily." (Source: Bloomberg) #press
Elon Musk Says Treasury Bills Are ‘No-Brainer’
Elon Musk sees a lot to like at the shortest end of the Treasury curve. #press
What to Expect From the July Jobs Report
The US economy is expected to have added 200,000 jobs in July. The report comes out Aug. 4. Bloomberg's Michael McKee has a preview. (Source: Bloomberg) #press
Money-Market Assets Climb to Fresh Record With Rates Above 5%
Money-market fund assets climbed to a fresh record as interest rates north of 5% lure cash from banks and other short-term investments. #press
Occidental Weighs Berkshire Redemption Pause on Oil Prices
Occidental Petroleum Corp. may pause redeeming Berkshire Hathaway Inc.’s preferred equity in the third quarter as lower oil prices limit its ability to return money to shareholders. #press
Money-Market Assets Climb to Fresh Record With Rates Above 5%
Money-market fund assets climbed to a fresh record as interest rates north of 5% lure cash from banks and other short-term investments. #press
Occidental Weighs Berkshire Redemption Pause on Oil Prices
Occidental Petroleum Corp. may pause redeeming Berkshire Hathaway Inc.’s preferred equity in the third quarter as lower oil prices limit its ability to return money to shareholders. #press
Market Pullback Might Be a Bit 'Nasty': Fred Alger CEO
Fred Alger Management CEO and CIO Dan Chung discusses his outlook for Amazon, Apple and US stocks with Sonali Basak on "Bloomberg Markets." (Source: Bloomberg) #press
Shopify Falls on Investor Growth Concerns Despite Revenue Beat
Shares of Shopify Inc. dropped as investor concerns about long-term growth outweighed the Canadian e-commerce platform’s outlook for the current quarter. #press
What to Expect From the July Jobs Report
The US economy is expected to have added 200,000 jobs in July. The report comes out Aug. 4. Bloomberg's Michael McKee has a preview. (Source: Bloomberg) #press
Expedia Falls as Sales Miss Estimates, Signal Travel Slump
Expedia Group Inc. tumbled the most in more than a three years after reporting second-quarter revenue that missed analysts’ estimates, signaling a potential slowdown in travel demand during the busy summer season. #press
Bloomberg Markets: Americas 08/03/2023
Alix Steel and Guy Johnson bring you the news you need to know and trends you need to watch as US markets get into the trading day. (Source: Bloomberg) #press
Occidental Weighs Berkshire Redemption Pause Amid Oil-Price Drop
Occidental Petroleum Corp. may pause redeeming Berkshire Hathaway Inc.’s preferred equity in the third quarter as lower oil prices limit its ability to return money to shareholders. #press