AI Rally Loses Steam, US-China Talks Persist

US equity futures waver after Meta, Alibaba and Tencent boosted investor optimism around AI with their latest technology. The US and China held a second round of trade talks ahead of the Trump-Xi summit. President Trump is set to speak as the UN General Assembly convenes in New York City. Kallum Pickering of Peel Hunt joins "Bloomberg Brief" to discuss the sustainability of debt-financed growth. This video has been edited to correct a graphic to show that the latest AI trade faltered in the Asian session. The correction is placed at 01:01 Chapters: 00:00:00 - Bloomberg Brief: AI Rally, Trade Talks & Oil 00:00:48 - Global Market Check: Asian Markets and Chinese Tech Gains 00:02:22 - European Markets React to Oil Reversal 00:03:31 - Oil Retreats on Iran Diplomacy and Saudi Supply 00:04:56 - First Look movers: On, GameStop and Pharma 00:06:24 - Trump, Xi and the UN General Assembly 00:09:02 - US-China Trade Talks and Rare Earth Leverage 00:12:50 - Oil Markets and the Strait of Hormuz 00:15:41 - Trending on the Terminal 00:16:59 - Alibaba’s New AI Chip Takes Aim at Nvidia, Meta’s AI Momentum and the Chip Rally 00:20:45 - Front Page News 00:21:33 - Market Check: Stocks, Bonds and Crude Oil 00:24:25 - Kallum Pickering, Peel Hunt Chief Economist, on US Debt, Fed Policy and AI Investment Risks, Inflation Risks and the Fed’s Balancing Act 00:32:20 - Trending on the Terminal 00:33:42 - Trump-Xi Talks and UN Diplomacy 00:37:42 - Alibaba, Meta and SoftBank’s AI Financing Boom, Meta AI Adoption and Investor Optimism 00:42:30 - What to Watch -------- 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