Today, Marta Norton, chief investment strategist at Empower, discusses the underwhelming June jobs report and that means for the Fed’s next move. Then, Stuart Paul, Bloomberg Economics US and Canada economist, talks oil prices and what a permanent toll on the Strait of Hormuz would mean for oil prices. Plus, Robin Wenzel, head of the Wells Fargo Agri-Food Institute, breaks down the cost of fourth of July barbeque and where americans are feeling pinched at the grocery store. Finally, ‘Bloomberg Business of Sports’ co-hosts Vanessa Perdomo-Maglione and Randall Williams, discuss the United States’ World Cup win over Bosnia-Herzegovina in the round of 32 and how a controversial red card may cost the US its leading scorer in the next game.
Chapters
00:00:00 Bloomberg Businessweek Daily Open
00:01:14 June Jobs Report Misses Expectations
00:02:29 Market Update: Dow Records, Chip Stocks Tumble
00:04:20 Markets React to the Jobs Report
00:05:00 Empower’s Marta Norton on the Labor Market
00:08:05 Inflation, Supply Shocks & the Fed
00:11:10 Strait of Hormuz Toll Fees Explained
00:12:20 Bloomberg Economics on Oil & Global Trade
00:17:15 Will Lower Gas Prices Boost Spending?
00:19:05 Market Update: Blackstone Data Center Surprise
00:21:00 Data Center Pushback & AI Infrastructure
00:22:20 Fourth of July BBQ Costs Rise
00:24:30 Where Shoppers Can Still Find Grocery Savings
00:25:20 When Will Beef Prices Come Down?
00:29:20 GLP-1 Drugs Are Changing Grocery Shopping
00:31:40 Heat Wave Causes New York Power Concerns
00:32:35 Market Update: Chip Selloff Continues
00:34:30 World Cup Fever Grips the U.S.
00:35:35 U.S. Soccer’s Red Card Controversy
00:42:40 Stocks on the Move
00:44:20 AI Chip Stocks Lead Market Declines
00:47:35 Moderna Jumps on Vaccine Progress
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