Dalio Warns of AI Bubble, Hormuz Attacks Lift Oil

Billionaire Ray Dalio warned that artificial intelligence is a “classic bubble” that is nearing a bursting point thanks to rising interest rates and the need to turn wealth into cash. A rally in stocks came to a halt and global bonds fell as mounting attacks on tankers in the Middle East pushed oil prices higher. Futures for the S&P 500 stood pat after the index hit a record high in the previous session. Europe’s Stoxx 600 fell 0.6%, ending a three-day run of gains. SK Hynix fell nearly 3% in South Korea ahead of the expiry of a lockup on its American depositary receipts. 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: SpaceX, Oil and Bonds 00:01:35 - Tech Rally, Market Breadth and SpaceX’s $40 Billion Financing 00:04:45 - Strait of Hormuz Attacks Drive Oil and Shipping Costs Higher 00:06:43 - French Bond Selloff and ECB Intervention Risks 00:10:30 - SpaceX Seeks $40 Billion for Nvidia Chips 00:13:47 - Plurimi Wealth Chief Investment Officer Patrick Armstrong on Semiconductors and AI Spending, France, Europe and the US Debt Outlook 00:21:40 - Need to Know: Russia, Israel and HSBC Job Cuts 00:24:41 - European Bonds, French Protests and Fiscal Pressure 00:26:39 - Marine Le Pen’s Budget Plans Under Scrutiny 00:28:08 - UBS IB European Rates Strategy Head Reinout De Bock on French Debt, Italy and European Rates, Europe’s Energy Risks and ECB Policy 00:38:27 - Markets in 3 Minutes: Higher Yields and AI-Led Market Growth 00:42:03 - Stock to Watch: ABN Amro, HSBC and Orange 00:48:03 - European Trading Opens in the Red 00:50:42 - Bank of America US Equity & Quantitative Strategy Head Savita Subramanian on S&P 500 Breadth and Valuations, Why Bonds Are Becoming More Attractive 00:58:58 - European Stock Movers: Bridgepoint, Pennon and Porsche 01:01:14 - HSBC Job Cuts and AI’s Impact on Wealth Management 01:04:14 - Jamie Dimon on AI Investment and Rising Rates, AI Risks and Data Center Expansion 01:11:11 - European Stocks Fall as Bond Yields Rise 01:12:50 - Hormuz Attacks, HSBC Cuts and SpaceX Financing 01:14:00 - Hamilton Lane Co-CEO Erik Hirsch on AI Borrowing and Private Credit Risks, Private Credit, Defaults and Consumer Resilience 01:23:27 - Apollo on Financing the Data Center Buildout 01:25:32 - Iran Steps Up Attacks in the Strait of Hormuz 01:27:14 - Saudi Arabia, Yemen and U.S. Military Support 01:30:13 - French Bond Yields and the ECB Intervention Threshold, FOMC Minutes and the US Yield Curve 01:34:39 - What's 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