AI Trade Shows New Cracks, Healey Defends UK Budget’s Scale

A global rally in technology shares stalled after disappointing earnings from two industry heavyweights revived doubts over whether billions of dollars in artificial intelligence spending will deliver sufficient returns. Chancellor of the Exchequer John Healey defended his first budget against criticism that it lacked ambition, while warning the UK would face “hard decisions” about its spending priorities in the years ahead. 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. Chapters: 00:00:00 - "The Opening Trade" Begins: Tech Earnings, Fed and UK Budget in Focus 00:02:14 - The Agenda: Alphabet and Samsung Disappoint on AI 00:04:27 - The Agenda: Fed Holds Rates, ECB Decision Amid Market Turbulence 00:05:55 - The Agenda: UK Budget: Big Decisions Delayed 00:08:05 - Breaking News: Lloyds and Shell Earnings 00:11:46 - BNP Paribas' Sam Lynton-Brown on Fed Holds Rates, December Hike in Play 00:15:15 - ECB Preview and Rate Outlook 00:20:03 - BNP Paribas' Sam Lynton-Brown on UK Budget and Bank of England Impact 00:25:47 - Alphabet Slides on Search and AI Concerns, Samsung, AI Demand and Chip Capacity 00:32:06 - UK Chancellor Healy Defends UK Budget 00:34:31 - Live Post-Budget Coverage Preview 00:36:24 - OBR's David Miles on UK Growth, Energy and Fiscal Headroom 00:41:07 - MLIV: Tech Earnings and Fed Market Reaction 00:48:11 - European Markets Open 00:51:18 - Plurimi Wealth's Patrick Armstrong on AI Investment, Semiconductors and Central Banks 01:00:14 - Special UK Budget Analysis Begins: After the Budget, Before the Bell With The Opening Trade 01:01:37 - Is the UK More Investable After the Budget 01:07:49 - JPMorgan's Hugh Gimber on Bond Markets, Fiscal Headroom and UK Growth 01:16:37 - Britain’s Billionaire Exodus 01:19:14 - Energy Bill Relief and Personal Finance 01:25:19 - Welfare, Youth Unemployment and Fiscal Drag 01:28:59 - Santander CIB's Victoria Clarke on UK Growth, Gilts and Future Spending Decisions 01:37:16 - Key Budget Takeaways and Challenges Ahead -------- 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