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China is now devoted to developing its own domestic chips after balking at U.S. export controls.
China has invoked new export controls on critical minerals, a move that could be very disruptive for U.S. industry.
The S&P 500 is experiencing 27% earnings growth this year, its strongest performance since the post-COVID period.
If oil prices remain at $100 a barrel through June and July, the impact on the US consumer and economy will turn negative, likely leading to serious earnings downgrades.
According to Chris Harvey of CIBC, technology and communication services have accounted for 90% of the S&P 500's returns since the end of January.
According to Chris Harvey of CIBC, nine individual stocks accounted for roughly 90% of the S&P 500's return since the end of January, with Nvidia alone responsible for 20-25% of the overall return.
Hyperscalers are estimated to add $150 billion in CapEx for 2027 and 2028, with 20% of that spending going to Korean memory companies.
Memory chip makers are entering into 3 to 5-year long-term agreements with hyperscalers, which reduces price volatility and increases earnings visibility.
During a recent diplomatic meeting, American staff collected all items from Chinese officials, including credentials and burner phones, and threw them in a bin before boarding Air Force One, allowing nothing from China on the plane.
According to Mary Lovely of the Peterson Institute, the recent U.S.-China summit succeeded in maintaining a tactical truce but failed to resolve major irritants in the relationship.
Mary Lovely believes the recent U.S.-China summit set the relationship back rather than accomplishing nothing.
HSBC has revised its year-end price target for the S&P 500 to 7,650, with the potential for it to breach 8,000.