中国据报开始小批量生产国产浸没式DUV光刻机，引发海外半导体设备股下跌

【实时直播转录 · Bloomberg TV+】
来源:Bloomberg TV+(bloomberg 直播间 btv_us) · 标题:Bloomberg TV+
时段:2026-07-28 04:00–04:30(Asia/Shanghai),共 202 段
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[04:00] At the market trade here back to the S&P I go, as I mentioned earlier, 328 names, Emily, actually higher in the S&P5.
[04:00] On Monday 175 to the downside and taking a look here at just what sectors were outperforming, you can see consumer staples.
[04:00] Imunication services, financials in the green information technology that large red slice here the sector.
[04:00] Down about 1% on the day and you can see that reflected in how the nasdaq 100 ended the day as well energy and utilities also.
[04:00] Ler, of course, as we saw oil prices moving down today. all right guys, let's go to some of the individual gainers so as investors kind of moved away from.
[04:00] Semicconductors, they said, oh let's check out those software application stocks today, application software stocks, so they did outperform.
[04:00] And just take a look at something like Workday, it was number one gainer in the S&P, I think number two in the Nasdaq 100 outperforming up of that.
[04:01] 9ine%, keep in mind, we know it's been under pressure, I think down about 30% year to date and big percentage, about 14% of the float is short.
[04:01] But nonetheless, investors taken another look at that name and then you had the IHres expanded tech software sector exchange traded.
[04:01] me IGV is the ticker and that one was up overall for the space about3 and one3 percent.
[04:01] Let's go on over to the meatpackers surging after the United States said it would resume cattle shipments from Mexico, easing a domestic shortage.
[04:01] That has led to higher costs for their animals and we've all seen that certainly play out at the supermarket, so Tyson was up 5.6%.
[04:01] was up almost 3% you had JBS, really some outperformance there at more than 10% in today's session and then youll say.
[04:01] Pilgrim Pri that was up about 1.8%, remember it was a year long ban that was put in place to prevent the spread of New World sworm.
[04:01] That was a parasitic fly that can kill cattle within days if left untreated, so that has certainly been on the meat market for a while.
[04:02] HereDid I say me all right, you know what I'm talking about and let me go to FBRX.
[04:02] Is the tickerIs it Ford or forte Bsciences, Nobody knows. I don't know. You picked this right. Yeah I call.
[04:02] On the phone, and I forgot to do that, but this one also some outperformance jumping about 40% after.
[04:02] Genes agreed to acquire the biotech at $77 a share in cash, representing a total equity value of about 2.2 billion stock.
[04:02] I about 180% year to date and so a little bit of deal flow, and I forgot, did I forget to give you guys the ticker maybe anyway?
[04:02] was now a performer in today's session right let go of thers I want to start with shares of Nvidia today on a point basis worst.
[04:02] er in the S&P 500 shares fell 5% that accounted for 21 points to the downside in the S&P 500 today.
[04:03] This after investors are really trying to digest the $75 billion in deals that are reigniting these fears about circular funds.
[04:03] When it comes to AI, so for example, a $500 billion deal with SK group, NviID and talks to backstop as much as 250.
[04:03] open AI, at least computing power from a US data center project to finance $350 billion of open AI purchases of its chips.
[04:03] That's happening, investors are wondering, wait a second, what does this mean for just Capex and for the investment happening in the AI industry?
[04:03] Vdia shares down about 5% today, also speaking of chips, ASM holdings.
[04:03] AML ADRs of this company fell by 5.8%, This is interesting this after a report that a Chinese state.
[04:03] company has begun mass production of certain chip making machines. It's a Shanghai based company. It started making immersion deep ultraviolet lithography tools.
[04:03] This cited unified people familiar with the matter, it's assembled development teams from other Chinese companies, sparked a decline in stock for chip equipment.
[04:04] Heres in Europe and the US, including ASM International, B Semi Industries, App materials and La research.
[04:04] Finally, given the decline in energy names and potentially something happening in the Strait of Horz and between the US and Iran, watching what's happening.
[04:04] With energy and with chemicals and fertilizers today, Ven Global fell by 10.4% CF industries on the fertilizer.
[04:04] Side fell by 4.2%. Any pickup in shipping through the stra would ease disruption in those markets. Those shares fell as a result.
[04:04] All right, we want to take a quick look here what's been going on in the yield space two straight sessions now where we've seen yields decline that we should point.
[04:04] Now they are significantly elevated from where they were just a couple of months ago, 4.318 on the two year yield or 1 year.
[04:04] 4 spot64 and change and of course that is the setup heading into that two day fed meeting which begins on tuesday all right good.
[04:05] Let's go to some stories that definitely are on our radar today, this one certainly caught our attention, monthly ridership on the Long Island Railroad.
[04:05] Busiest commuter line here in the United States surpassing pre pandemic levels for the first time as a hectic New York City summer boosted.
[04:05] I know romayine takes the chauffeur in the helicopter when he goes from place to place, but us normal folks take public transit.
[04:05] 7.9 of us use the LIR in June, that's 102% more than in the same month in 2019 people use this to come to work group.
[04:05] It is just to go to the next game to go the next party thats thing we just need a sport, you know, to draw people in.
[04:05] every month and then we be good fans well there's also golf fans the U. open in southampton.
[04:05] You fancy all right, hybrid and LIR about once, but you know, they're kind of rowdy those people Sometimes you get a double decker train.
[04:05] The double decker oh the train oh I got it, okay, i was taking a bus anyway anyway.
[04:06] LIR back congratulations, nice milestone there, hopefully those people actually start using it to come into the office, support our economy here.
[04:06] While the movie economy is doing pretty well, of course the release of odyssey, which other than know the culture warrior, you know, numb nuts who thought.
[04:06] This was going to this is obviously the biggest movie of the year and then I just saw a story it's about to open in Chinaa overseas this weekend and.
[04:06] There are about 800 imax screens, they're devoting almost every single screen just to this movie to accommodate the demand, whose numb nuts?
[04:06] Have you seen this movie, Emily Grphail, I really want to see this movie, I can't even get into the 2 a.m.
[04:06] Showing to new york City that sold out if we wait a few months is it going to be fine no I think so?
[04:06] That's what my plan I'm not just releasing it on you know streaming I knowpher want we want to see 70 millim diameter.
[04:07] I idea what that means what does that mean higher quality picture, more immersive, more immerive it's like you're there going it's like you're there in freshman year high school reading.
[04:07] I don't actually had a trip to remain all of us and go.
[04:07] Can you do one at 2 pm No, I'm an early bird, I 2 pm we're on air and everybody's watching, so we don't want to do that.
[04:07] maybe we could do it at 4 o'clock it's like a 90 minute movie We'll be out that hours.
[04:07] is there intermission okay well anyway, good for Christopher Nolan, good for rich Gelffa, a friend there.
[04:07] Over at Iax, you know I know he's at him onto this program a lot, he really bangs a drum about how he works with these directors to really kind of create this experience.
[04:07] And he's been a big fan of Christopher Nolan and obviously who better to tether yourself to than probably what's going to go down is one of the greatest directions.
[04:07] We should go to this this would be good in this year it might be too immersive I don't know I don't know so people are people are taking public transit.
[04:08] Again, they're going to movie theaters again, things are back we're back, we're back, baby, we're back baby now it's time for us to go now we got to go.
[04:08] All right, that is a wrap on a cross platform, radio TV, YouTube, Bloomberg originals we do call it the closing bell, emmeline remainma over there on the.
[04:08] on TV Tim and I back here on Bloomberg business Week daily on radio folks we'll see you again same time, same place tomorrow.
[04:08] A lot more coverage coming up here on the close as we set you up for a big week for big tech earnings that's coming up after the break right here.
[04:09] Western countries, all of them are attacking funding to Africa.
[04:09] 🎼And some of these programs were supported by funding coming from Western countries, like for human resources.
[04:09] 🎼For testing, for transportation of samples. and suddenly African.
[04:09] You just has to think how to fund money and to cover this gap, but it sets some time.
[04:09] 🎼And I think the community all all of these factors are fueling this mistrust that we see at community level.
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[04:11] This is the close Wel back to the close I'm Emily Grel.
[04:11] And ourm roine bossik an interesting start to the week here in U.S. equity markets, you take a look at the screen behind me and believe me, it could have been a lot worse.
[04:11] S& 500 opened strongly on the day at one point, though it had dropped almost a percentage point but managed to close out the day right along the water.
[04:11] And a big part of the drag today was the phadelphia semiconductor index, which again was down almost 5 percent in the session earlier, but managed to claw.
[04:11] Some of those losses as we got closer to those closing bells, the big beneficiary today that we saw of that rotation trade was in a lot of the applications.
[04:11] Software companies and of course we have to talk about the macro, a big drop in yields on the back of a big drop emily in crude oil prices.
[04:11] And you mentioned application software I want to highlight workday here that stock up9% to finish the day again that software trade those private.
[04:11] Credit fears kind of reversing today as investors bid up software names not working today, though, is the.
[04:12] Mar names those chip stocks falling sandisk is one i want to highlight down about 11% to finish the day ro and that brings us to our top story.
[04:12] Our earnings season, a consequential one to be sure and yes, we say that almost every quarter, but i promise you this time is different more than 10.
[04:12] 70 companies in the s& 500 set to report this week, but that includes apple, microsoft, amazon first third.
[04:12] Highest weight of companies in the benchmark index and each is widely expected to blow past analyst expectations for revenue growth.
[04:12] And earnings yet each is also widely expected to see their shares sell off as a result the isn't so much.
[04:12] But rather, what would actually please investors enough to add to positions on stocks coming off one of their best rallies?
[04:12] More than a decade joining us right now is kim forrest founder, chief investment officer over at boca capital partners and that is where i want to startim.
[04:13] Anyone's doubting what the income statements and balance sheets on these companies are going to look like, but there is some concern about, I guess maybe.
[04:13] The balance sheet, how much they're spending and whether there is enough of a balance between that capex spend and the return on investment, at least enough to continue.
[04:13] Bitting up these stocks what do you expect Sure, well, I mean, this is the question that everybody should be asking themselves is how.
[04:13] Much are these companies spending and will they ever get it back, right, is the business model sufficient?
[04:13] To drive revenues and earnings higher, and probably at this point, we're thinking more about margin.
[04:13] And earnings in the future, right, We don't really care about what's happening today. And I don't think we have a good answer, probably this story.
[04:13] Ironically of the whole earnings season is going to be Apple, although it too has really caught up.
[04:13] been lagging right because it didn't have AI and now that it might rent, you know Google's AI.
[04:14] People are happy, so we'll talk a little bit more about that because I was looking at well at first I was just going through the stock performance and if anyone who's been asleep.
[04:14] Apple's probably the best performing tech stock over the last couple of months here, I mean, notwithstanding some of the memory chip companies, but at this idea here.
[04:14] That everyone had written Apple off, basically saying okay, they had no AI strategy, they're laggars, and clearly they had a strategy, it was just a different one than what everyone else was.
[04:14] Now I'm not making a commentary on whether that's a good strategy or not, but do you think that as we sort of get to whatever this next phase of this AI race is?
[04:14] That maybe that strategy of maybe sitting on the sidelines, watching everything play out, and then sort of picking your punches, is that maybe the winning?
[04:14] It absolutely is the winning strategy. And here's why forever Apple has.
[04:14] And a provider of hardware. Oh, sure they have i. They have had some, you know, they have to have applications that run on.
[04:15] Software, but they are not like Microsoft that are making end applications. They're making the middle and letting developer.
[04:15] Develop so I think it was absolutely an exercise in restraint to not start pilot.
[04:15] Money into AI and putting together teams of developers that they don't really do that, right?
[04:15] I think the strategy is completely a winner and not only that, it looks like they're not going to completely build.
[04:15] On top of anybody's stack, so maybe just maybe they really have the answer here that you, the end user, can maybe.
[04:15] Find the AI that works for you and use their device because they're a hardware maker on.
[04:15] And live happily ever after, so I think they do have a winning strategy Kim I do want to in the I want to ask you about Nvi.
[04:15] Strategy and get your reaction to the news we got this morning n video working on a fresh round of AI deals worth more than 700.
[04:16] billionI mean even for a company as large as Nvidia, this is a ton of money where are they going.
[04:16] get this funding for all of these deals to get done Well they're going to first of all, look in their own pocketbook.
[04:16] Cruing money. and I guess, you know, they're going to go out to the public markets and try to get or private markets and try to get people to protect.
[04:16] ipBut what I think the real concerning thing isnt where they're getting the money, but how they're spending the money and that is.
[04:16] Their client base. And while you want a good ecosystem, meaning that everybody is winning in the ecosystem.
[04:16] Nobody is taking advantage, you don't ever want to work with a firm that's taking advantage of you.
[04:16] You also don't want one that is totally invested in you, and I guess that's really the issue with NviIDdia, is that circular fun?
[04:17] Where they're spending money that they hope will ultimately land right back in their earnings statements I also want to ask you about.
[04:17] Amazon, we do have those results coming up as well, and I know that you are a buyer of Amazon, are you buying more Amazon after those earnings?
[04:17] Well, we'll see, I mean we're an owner of Amazon again, we were trying to have some exposure to.
[04:17] The Magnificent7 without buying all the Magnificent7 and Amazon has done something well, which is create.
[04:17] A product that people want, and that would be Amazon web services, so they're spending money in AI.
[04:17] Really to satisfy their customer base. And this is unlike NviDdia because their customer base is not going.
[04:17] Particip in Amazon in some weird circular fashion, so I think Amazon spending.
[04:17] As long as they can see a way to recover that money that they're spending, they know that these people that or their customers are going to.
[04:18] TheI think it's fine to do what they're doing One interesting thing that coming into this earnings season a few strategists have talked about this idea that.
[04:18] They see some of the winners, certainly not only the short term, long term, but those companies that have found better ways to employ aI for their own.
[04:18] Products and services. and I am curious about the retail shopping experience. I've sort of, let's just say use.
[04:18] One particular chat bot for one particular retailer it was not necessarily the best experience and I wonder how far away are we from having some of these retailers?
[04:18] Be able to put something forward that the consumer can use to actually find what they want and what they need and not necessarily whatever.
[04:18] exactly, yeah, I mean, this is what I wrote in my note, right, that I like Amazon to buy things, but to shop, it's a frustration.
[04:18] So yeah, I really do hope somebody comes up with a paradigm. I haven't found it. shoppingping online is frustrating if you want to go.
[04:19] Buy something, you can buy it, but to actually kind of like what you do in a store, walk through, find, discover things that you didn't even know.
[04:19] Need know, that's really hard to do online, so I'm hoping AI can do it absolutely I don't know.
[04:19] We'll have to see thank you kim forrest, it's always great to see you founder and chief investment officer at Boca Capital Partner.
[04:19] And coming up, some Fed officials this month have signaled the rationale for higher interest rates, would this week's decision be a contentious one.
[04:19] We'll ask former F Governor Betsy Duke, that's next, this is Bomberg.
[04:20] 🎼Yeah.
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[04:21] All right, a few things crossing the wire here in the after hours trade, including some earning.
[04:22] Also an update from buzzuzzfeed, remember, this is of course, the media company that is being bought by Byron allen's investment firm.
[04:22] We're now learning that the company does plan to cut costs and that includes 35% of its workforce according to a statement now being released the company.
[04:22] Says that it expects about $29 to $32 million in annualized savings, so there will be about six and a half to8 and a half.
[04:22] Million dollars in restructuring charges in order to orchestrate that em we're also getting some earnings out of cadence design systems.
[04:22] It provides the software to kind of help design chips and I know there's been a big focus on AI and where we're going in that space, those shares are up in there.
[04:22] Extended trading here right now after it looks like a relatively decent beat for the most recent quarter and it looks like the.
[04:22] I going forward also looks relatively strong. It's interesting to see the investors kind of reward a good beat because we didn't see that.
[04:23] Necess for all the earnings that we got last week, a lot of them were good and yet the stock was still trading lower absolutely here and of course while the market will have the big.
[04:23] On what's going on with regards to some of these big tech companiess are also going to have an eye on the federal reserve kevin wsh presiding over.
[04:23] A fed meeting that takes place tomorrow, of course it concludes on wednesday and yes he will be getting a press conference.
[04:23] Joining us right now to talk a little bit more about this and the expectations is betsy Duke, former Fed governor she joins.
[04:23] Right now betsy great to have you here on the program look i know no one's are expecting a change in rates, but we also get to this idea about the.
[04:23] That has to go on behind closed doors given the fluctuations that we continue to see with regards to the situation in iran and its impact on.
[04:23] Energy prices and more importantly, to feed through into more impactful inflation numbers that the F will have to parse.
[04:23] I don't expect there to be any change, but honestly, I think there's a very good case to be made for making a change if you look at.
[04:24] More than five years now, if that's missed at Sarget, the labor market seems to be stable in any case.
[04:24] The growth in the economy is solid. There's no indication that I can see. It'd be hard to make the argument that the current level of income.
[04:24] Interr is restrictive. So, they came out so strongly saying we are going to get inflation under control.
[04:24] If they say that and don't do anything and don't say anything more, that's kind of hard to deal with.
[04:24] A good case can be made for a quarter point hike hike, okay that'd be interesting, but well it's actually to that point, we were talking a lot over the last few days.
[04:24] About the strength of the economy and how if there was any time to sort of maybe make a little bit more of a fight against inflation now would be it, do you agree?
[04:24] I think it would be, I think if I were in the room, I would certainly be arguing for it, I don't think I would be at the point where I felt so.
[04:25] Strongly that I would dissent, but I think you may very well see dissent after this meeting What would restrictive policy look like to you?
[04:25] Well, I think that the neutral rate is probably somewhere around four, that's my guess.
[04:25] And I think with deglobalization, I think globalization made inflation really.
[04:25] Easy to keep under control and the great moderation, I think deglobalization is going to tend to make inflation harder to keep under control.
[04:25] How do you kind of parse through the one time shocks then of oil?
[04:25] Gepolitics of volatility in the Middle East, how does that kind of factor into how you think about where neutral really is?
[04:25] So everything in economics says you look through one time shocks, but there have been so many one time shocks, it's been one time shock.
[04:25] After one time it was supply shock from the COVID reopening, there were tariffs there.
[04:26] Was the war. now there's more tariffs. Now, there's more trouble in the Middle East going on. And there comes a point where each of these.
[04:26] Time shocks has some lingering effect and they pile on top of each other, on top of each other. and so people begin to expect inflation.
[04:26] Connuue its current level just real quickly, that's only about a minute left, but with regards to Kevin w and the communication that he's going to have to give because.
[04:26] En of the day, no matter what decision they make on wednesday, the real challenge is going to be trying to explain that to investors at 230 p.m.
[04:26] I think that's true, I mean you can avoid giving forward guidance, but at some point you have to explain the decision that you just made.
[04:26] That's not forward guidance, that's a decision, and so it's going to be interesting to hear and really interesting to see the minutes.
[04:26] From this meeting to see how contentious it actually was Betsy always a pleasure really appreciate you giving us your time, former Fed governor there at Betsy.
[04:27] Do a nice preview of that dead meeting which kicks off tomorrow and of course we get the big decision on wednesday, meanwhile, right here on monday when we come back we're going to talk.
[04:27] The consumer we're going to catch up with the founders of cau Ven partners for a breakdown of what they're seeing in the consumer space you've heard of thrive.
[04:27] You're in a poppy were you drinking one of those early, that's coming up after the break right here on Bloomberg.
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[04:28] some of the pipeline people are borrowing because they see opportunity, what it's equipment of buying, what it's hiring, what's building a plant, whether it's inventory buildup.
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