Bloomberg TV+直播仅复盘美联储、微软与Meta财报及数据中心融资消息，未形成新的可交易AI算力催化

【实时直播转录 · Bloomberg TV+】
来源:Bloomberg TV+(bloomberg 直播间 btv_us) · 标题:Bloomberg TV+
时段:2026-07-30 17:30–18:00(Asia/Shanghai),共 147 段
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[17:30] Case for almost every economist, but there was a view in the market that Wsh was going to do something to surprise.
[17:30] The markets that either that could be a surprise rate hike at this meeting, and remember we went into a pricing about 30% probability that the Fed would high.
[17:30] Or there would be some kind of signaling of a rate hike in September, which is hard to do if you're not providing forward guidance, so the fact that we got none of that.
[17:30] I think was almost necessarily going to lead to a more devish outcome at this meeting and then the other issue that I think W is running into here is.
[17:30] And you say very little the market, people like myself and your viewers are going to listen very, very.
[17:30] Carefully to everything that you do say, so it's not that Chair Walsh made lots and lots of dovish comments, it that he made this dovish comment around in Fl.
[17:30] He also talked about that the market has kind of done the work for us that yields have moved higher in anticipation of the fact that the Fed.
[17:31] Might tighten in interest rates, might tighten in policy, if the market has done that work, maybe the Fed doesn't need to do that work that.
[17:31] A little bit dangerous logic because, well, the market is doing that work because it thinks that you might be hawkish if you say.
[17:31] Morevish because of what the market has done than you get a devish response. So we really didn't hear that much from Cha worship for the thing.
[17:31] He said we're dovish and when you don't say very much that's what the market's going to react to Yeah, I mean, did he reveal himself in fact, as a dove?
[17:31] As John Arthur says today, the fall of the two year yields would suggest that indeed he did, and in that case, we might actually be looking at.
[17:31] some pointI think that what we learned is we don't have this.
[17:31] Super hawkish chair warsh that's really going to be pushing for a hike even at this meeting and again, ahead of the meeting, talking to him.
[17:31] Investors talking to a broad array of different people, there was at least a minority view out there that we really were going to see chair Wsh push this committee.
[17:32] To hike in a way that surprised the market thatd be very different from prior Fed shares. So just the fact that that.
[17:32] Itn't happen that we got even a more balanced chair warish, I think was dovish relative to market expectations.
[17:32] In terms of what his actual reaction function is, I think we still really don't know there was a question that tried to pin him down on that and he said, look.
[17:32] At the end of the day, if inflation is higher, we're going to be thinking more about tightening, if inflation is lower, we're going to be thinking more about.
[17:32] Engaging in looser monetary policy and that's all I can tell you about the reaction function so that is a very broad and general description of the reaction.
[17:32] I think we still really don't know, but what we do know is that we don't have a F here that's pushing for a near term hike here.
[17:32] And that should, you know, not only did we not get the hike in the month of July at the meeting yesterday, but I would question also, you, we're still pricing a lot.
[17:33] ButIn first September, this didn't necessarily sound like a F or a Fed chair that is looking to hike in September to me.
[17:33] Pricing is changing a little bit. We could be at an inflection point. It sounds like you're describing a Fed that's becoming more reactive, as opposed to maybe.
[17:33] Forward looking, Andrew and is there a danger there, could the economy be in trouble with this F if something isn't done before the end of the year?
[17:33] Are you still looking for cuts still the F is going to end up cutting interest rates.
[17:33] Things one is inflation slowing down that we already saw in the report for June and like I was saying, those numbers should continue.
[17:33] To come in softer core API inflation, we think is going to be down at 2.3% year on year, 2.2% year on year in the next couple months.
[17:33] Those are just completely normal core CPI readings, they would raise no eyebrows, there's no reason you should have more restricted policy so that would be.
[17:33] AnAment, at least to price out these hikes in terms of pricing in cuts and the fed actually delivering cuts, there you would have to see some.
[17:34] cern on the labor market right now there is zero concern on the labor market from Fed officials and really from markets because we've had the unemployment rate stable at four point.
[17:34] 2% in my forecast, that unemployment rate is actually coming up over the remainder of the year, that's the seasonality that we've seen in that's.
[17:34] Seasonal pattern that we've seen in the last two years that's had the Fed cutting the last two Septembers, so that's in our base case think.
[17:34] At the very least, the inflation data should mean pricing out these hikes and the feds staying on hold, if we get the rise in the unemployment rate, then that's how we get to.
[17:34] All right, so no change in the base case, at least yet and, thank you so much for joining us this morning andw holandwt of City.
[17:34] 🎼Well, the top story trending on the terminal this morning, the US launched new strikes against Iran hitting dozens of military targets. The US says they're in response to.
[17:34] Tack onmeric forces in Jordan, the latest strikes mark an escalation in the conflict that's spreading across the Middle East.
[17:35] 🎼Items and revamped loyalty programs boosted Starbucks and topot's second quarter performance. both chains raised guidance after posting stronger than.
[17:35] The results show diners are still willing to spend money at restaurants if the prices and flavors are right.
[17:35] 🎼Goldman's Sas is testing investor demand on a potential $5.4 billion debt offering to help finance a blackstone backed data center, at least to Microsoft.
[17:35] 🎼The timing is still under discussion after a sell off in AI related debt, raised borrowing costs and weakened investor demand.
[17:35] Com up We'll take a closer look at the results from Microsoft and Me plus more earnings ahead. Angelino is going join us of CFR this.😊
[17:35] Bomberg.
[17:36] And Co is just another example Scott, have you had that idea for a long time in fairness Air New, this one that came up with it.
[17:36] To do it ever since they did it of all the stuff we've done, I personally think it is one of the coolest things we've done I love the idea to relax through.
[17:36] 🎼When I was a teenager young in my20s flying, when I saw an empty row of three seats and the plane taken off I'd never.
[17:36] 🎼And as soon as you got up to about 35,000 feet, I was on it trying to lie down and move the armrest to make this.
[17:37] I spent a number of trips when I was young and nonreving doing the same thing One't you the same you spot those three seats that's mine and you see someone outside and get.
[17:37] Yeah, it actually happened with my younger son don't miss Bloomberg surveillance live every weekday.
[17:37] 🎼Technology is embedded in every aspect of our lives and that revolution.
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[17:37] 🎼I bringing you the stories of companies and people that are pushing tech to new frontiers and the politics reshaping global tech.
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[17:38] That will be the foundation for our next wave of products and revenue lines in the months and years ahead.
[17:38] Defending metata's AI spending on the company's earnings call even as revenue forecasts disappoint anloino of CFfr writing quote.
[17:38] the mix Q2 results, we remain constructive, given enticing valuation and new potential monetization streams from personal AI agents, business AI.😊
[17:38] Subscriptions and API access to mu models. Angelloino joins us now. if that's the case, Angelo, why didn't Mark make.
[17:38] Case better, it seems that investors just aren't buying it the stock is down nearly 9% of the premarket.
[17:38] Yeah, so thanks for having me, Vonnie, and I would say, that's been the issue here with Vi Zuckerberg, I say the last two quarters, you kind of look.
[17:39] One earn season and similar to what we saw last night is the fact that he just didn't tell the story good enough.
[17:39] Look at the initial reaction to the stock, it did sell off largely because of the like Q3 guidance or fairly conservative Q.
[17:39] Three guidance, when you look at the top one, it is still growing at a pretty good pace, just decelerating on tougher comps, but as you kind of look here,
[17:39] Over the next couple of quarters, I think really what the market wanted to hear was a little bit more clarity in potentially that compute initiative that they've thrown.
[17:39] Out there they've got a lot of compute capacity that they've obviously bought because of the higher Capex spending and in this environment, but that's not nice.
[17:39] Nearily bad thing because there's a lot of value in that compute. The problem is, again, he's not telling the story and putting numbers.
[17:39] round what the revenue opportunity is around that, and in fact, when you kind of look at the messaging, it was very cloudy in nature.
[17:39] I think this is one of those things where you have to wait a couple of more quarters and give meta the benefit of the doubt, but in an environment,
[17:40] Where there's just a lot of uncertainty out there, I think at this point, investors are just looking elsewhere. Yeah, I mean, on compute, it's car is.
[17:40] Receiving offers at a premium, but there's just not enough detail around it, is it because Meta just doesn't know yet and like the rest of us.
[17:40] Sort of waiting to see what happens in this AI environment. Yeah, I think they just don't know yet. I think they see.
[17:40] one being, hey, listen, we can instantly generate revenue similar to what the cloud players are doing right now, and that is, hey, listen.
[17:40] We're buying the compute capacity.
[17:40] The longer term health of this company, if you can find ways to build intelligence on top of that compute capacity.
[17:40] ThereMore sustained, higher margin, higher value type of revenue around it. And I think that's really what Zuckerberg would ideal.
[17:41] Like to use and maximize that compute capacity for again, though, from an invested perspective, it's going to take time to.
[17:41] Realize those benefits from a revenue perspective over the long term, and I think that's right now what the street struggling with.
[17:41] And why you've kind of seen that got rewarded for once right, Angelo.
[17:41] Coilt growth in Azure, is this counteracting the narrative that perhaps?
[17:41] You know, there won't be as much uptake from businesses and from individuals on AI is this sort of telling the world a look, it can be money.
[17:41] Yeah, I think so, I mean, I think this was as good a quarter as you probably could have gotten out of Microsoft, right?
[17:41] I mean, you got the Azure numbers, great print 43% in acceleration into the second half of the year, 45% for the September quarter.
[17:41] Everybody wants to see that acceleration in cloud, you've seen it out of alphabet, you're now seeing it from Microsoft and you're probably going to see it tonight.
[17:42] From Amazon in our view, and that does kind of tell you, hey, listen, enterprises are spending, they need a lot more compute.
[17:42] OutIf that capacity is being made available by Microsoft and others, then the enterprise face is going to spend on that.
[17:42] And then when you kind of look at their productivity tools out there, specifically copit among other offerings out there.
[17:42] There was some great numbers tied to that and again, something that the street wanted to see and again, it shows that the enterprise is willing to spend.
[17:42] These greater AI capabilities, So when we kind of think about Microsoft here, and I think the balance that Microsoft is striking here between the cap.
[17:42] Sp making sure that free cash flow positive is something that investors like at this point in time, they're almost kind of the grownups in the room.
[17:42] To some of the others out there, are these customers pretty sticky, Angelo and does Microsoft have pricing power, Is there any chance that.
[17:43] A China offering could come and take some of the territory away.
[17:43] I mean, they've got significant pricing power where they're actually hiking prices in terms of their enterprise offerings, so they're better.
[17:43] From a tailwind on that side of things in terms of some of the models that they're rolling out here, we haven't seen much on that side of things, obviously they just launched.
[17:43] Seven models, that's something that where we expect them to kind of penetrate more and leverage more of their internal products to.
[17:43] Those models and I think that you'll get the benefits on cost from that perspective as well, but as far as kind of the competitive pressures out there,
[17:43] From China is concerned, I think that's something that the entire ecosystem is going to have to deal with in over time.
[17:43] You know at least from a large language model perspective, that is a good thing I'd say, but Microsoft, I think is you know they're more of a company.
[17:43] At this point in time, they're going to continue to benefit from the volume based side of things on Azure while they'll.
[17:44] You need to do what they do on the enterprise offerings and given that they are kind of this enterprise king more penetrated than just.
[17:44] Anybody on the enterprise side, they clearly have a competitive advantage from their existing massive installed base Angel.
[17:44] 🎼Thank you so much. Two very different reactions to earnings last night, Angelosino of CFRA Com up, We're going to get you set up for your trading.😊
[17:44] as markets digest the FOMC decision, this is Bberg.
[17:45] I'm David Weston, join me each week on Wall Street Week for stories of capital.
[17:45] This week, Harvard's Jason Furman on the Fed decision, the European Union moves to reform its merger regulation, but will it get the tech industry?
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[17:46] 🎼Here at first on Bloomberg in case you missed it on Daybreak Europe were talked going with the EU regulator on this though.
[17:46] Look, as I told you, I interact a lot with Americas and Chinese players and we see a Trump fighting for their companies all the time. we see the Chinese.
[17:47] Fighting for their companies all the time, here in Europe, I feel I'm fighting against the European regulators, not that they are fighting for us, they are fighting against us.
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[17:48] Brief by Vonny Quinn in New York now a look at what's ahead today, where we have more earnings, 8 trillion worth of market cap, in fact, Mastercard.
[17:48] Coming before the be and then two huge ones, Apple and Amazon after the close plus the Bank of England announces its rate decision that's coming up.😊
[17:48] S am Eastern time and then in terms of US economic data, we get GDP, job claims, US PCE, those are all out.😊
[17:48] 🎼At a 30 a Eastern let's take a look at some movers because of course yesterday was the second biggest earnings day of the season, right in Microsoft.😊
[17:48] Definitely outperformed 8.5% higher, it even brought down its capex spending due to an accounting error, but it really pleased.😊
[17:48] Gth in coal pilots and in other areas of the company like Azure our meta platforms, not so much investors getting.
[17:48] Sical, again, about Mark Zuckerberg's comments. apparently these companies are going in different directions, but also moving.
[17:49] It boosted its revenue forecast and really satisfied in terms of earnings securities on inflation fighting.
[17:49] Which are reacting to some of the better earn.
[17:49] 🎼Fad news conference was ongoing, gave back some of those declines, so we have to watch international investors at the moment Well that's it for Bomberg brief.😊
[17:49] is next.
[17:50] 🎼Yeah.
[17:50] Domestic politics, that's been pretty much defined by the warring of the two most powerful families.
[17:50] In thes Du is there any chance of amending of ties?
[17:50] I don't see there's a war. I'm not conducting any more political war against anyone. I'm just trying to do my job. I think it is not entirely accurate.
[17:51] To describe that there's a war between their warring families was it a mistake to run on the same ticket as s dute?
[17:51] I don't think so, I think it was the best thing that we would do because we had the same idea of what needed to be done in government.
[17:51] Maybe that's changed, but if we look at it in the context of that period, I think that was the right thing to do still Ser remains.
[17:51] Very popular if she were to come to power, you can send that perhaps some of your policies might be revised.
[17:51] Very much, that is a great worry for me because we have just started and these are big things that we are trying to do with.
[17:51] The whole way that we govern. we are trying to reform the bureaucracy. These things don't get done instantly and.
[17:51] It's very, very easy to go off the rails. It is continuity that we aspire for otherwise we go back to do.
[17:51] 🎼We business the way.
[17:52] 🎼To the world of business Joe Matthew and Ka liness deliver news insight and analysis live two times.
[17:52] 🎼one only on bringing.
[17:52] Whenever and wherever it happens, I'm Cheri in Seoul and this is Bberg.