Maersk Sees 2026 Dip, Shell Buys Back and Tech Selloff Grips Markets | The Opening Trade 2/5/2026

Declining freight rates weigh down Maersk, as the Red Sea reopens. The logistics giant looks to counter with job cuts and a focus on cost discipline this year. Shell shares also fall after reporting a profit miss in the fourth quarter. Meanwhile, global chip and tech investors are on alert after a rout in the sector, but Alphabet’s pledge to revamp AI spending helps calm short term nerves.

The Opening Trade has everything you need to know as markets open across Europe. With analysis you won’t find anywhere else, we break down the biggest stories of the day and speak to top guests who have skin in the game. Hosted by Anna Edwards, Guy Johnson and Tom Mackenzie.

Corrects to say expected cost savings will be €600 million in 2026 on banner that aired at 07:10 UK.

Chapters:
00:00:00 – The Opening Trade
00:00:25 – Market Check
00:02:04 – Tech Selloff Deepens
00:05:07 – Silver Crashes, Gold Falls
00:06:12 – Shell Announces Share Buyback
00:09:06 – BNP Paribas CFO
00:18:31 – ECB Rate Decision
00:20:41 – Retail Traders Taking Brunt of Pain: MLIV Chat
00:26:02 – Maersk CEO Vincent Clerc
00:35:50 – Shell CEO Wael Sawan
00:44:08 – Maersk Sees Drop in 2026 Earnings
00:47:09 – Stocks to Watch: Tech, Miners, Defense
00:52:39 – UK Yield Curves Steepen Most Since 2018, Keir Starmer PMQs
01:04:36 – SAAB CEO Micael Johansson
01:13:37 – Iran Should Be ‘Very Worried’: Trump
01:17:39 – DNB CEO Kjerstin Braathen
01:25:34 – Alphabet Expect CapEx Spend Near $185B
01:29:49 – Software Buildout Cost Has Collapsed: Andreessen Horowitz
01:33:21 – BOE Rate Decision
——–
More on Bloomberg Television and Markets

Like this video? Subscribe and turn on notifications so you don’t miss any videos from Bloomberg Markets & Finance: https://tinyurl.com/ysu5b8a9
Visit http://www.bloomberg.com for business news & analysis, up-to-the-minute market data, features, profiles and more.

Connect with Bloomberg Television on:
X: https://twitter.com/BloombergTV
Facebook: https://www.facebook.com/BloombergTelevision
Instagram: https://www.instagram.com/bloombergtv/

Connect with Bloomberg Business on:
X: https://twitter.com/business
Facebook: https://www.facebook.com/bloombergbusiness
Instagram: https://www.instagram.com/bloombergbusiness/
TikTok: https://www.tiktok.com/@bloombergbusiness?lang=en
Reddit: https://www.reddit.com/r/bloomberg/
LinkedIn: https://www.linkedin.com/company/bloomberg-news/

More from Bloomberg:
Bloomberg Radio: https://twitter.com/BloombergRadio

Bloomberg Surveillance: https://twitter.com/bsurveillance
Bloomberg Politics: https://twitter.com/bpolitics
Bloomberg Originals: https://twitter.com/bbgoriginals

Watch more on YouTube:
Bloomberg Technology: https://www.youtube.com/@BloombergTechnology
Bloomberg Originals: https://www.youtube.com/@business
Bloomberg Quicktake: https://www.youtube.com/@BloombergQuicktake
Bloomberg Espanol: https://www.youtube.com/@bloomberg_espanol
Bloomberg Podcasts: https://www.youtube.com/@BloombergPodcasts