Trump again targets Fed’s Powell on interest rate cuts

The Trump administration's recent use of video game memes to recruit for ICE has sparked controversy, highlighting a troubling trend of appealing to a specific subculture. By leveraging gaming imagery, the White House aims to mobilize support among certain demographics, particularly targeting 'rootless white males.' This strategy raises concerns about the implications of using popular culture to promote divisive policies, making it a significant topic in the ongoing discourse about immigration and representation.

In a move that could reshape trade relations, Trump announced plans to cut the fentanyl tariff on Chinese goods, expressing optimism for a 'great deal' with Xi. This announcement comes as Asian stock markets rally on trade deal hopes, and British lenders reported a surge in mortgage approvals, the highest since December 2024. These developments suggest a potential boost in consumer spending and economic growth, making it a significant moment for both the US and global markets.

The latest report reveals that the key US mortgage rate has fallen to its lowest point in 13 months, a development that could significantly benefit homebuyers and the housing market. Lower mortgage rates make home loans more affordable, potentially increasing demand for housing and stimulating economic activity. This drop is particularly timely as many are looking to purchase homes amid fluctuating market conditions.

Gold prices have surged by 2%, climbing back above the $4,000 mark just ahead of a crucial Federal Reserve policy meeting. This increase is significant as it reflects investor confidence and a potential shift in economic conditions, making it an important indicator for market trends and economic stability.

Oil prices are stabilizing as attention turns to an upcoming meeting between the US and China. This meeting is significant as it could influence global economic conditions and trade relations, impacting oil demand and prices. Investors are keenly watching for any developments that could affect the market.

Toyota has clarified that the $10 billion investment in the U.S. mentioned by former President Trump is not a new announcement. This investment, which aims to enhance Toyota's manufacturing capabilities in the U.S., has been in the works for some time. It's important because it highlights the ongoing commitment of major automotive companies to invest in American jobs and infrastructure, even amidst changing political landscapes.

In today's episode of Bloomberg Daybreak Europe, the focus is on the upcoming talks between US President Donald Trump and Chinese President Xi Jinping, as well as the impact of Hurricane Melissa on Cuba. These discussions are crucial as they could influence global markets and investor sentiment. Additionally, insights from Deutsche Bank's CFO James von Moltke and Equinor's CEO Anders Opedal will provide valuable perspectives for European investors ahead of trading.

Former President Trump announced that he has 'pretty much' finalized a trade deal with South Korea, which would establish a tariff rate of 15% in exchange for a significant investment of $350 billion in the United States. This agreement is important as it could strengthen economic ties between the two nations and boost the U.S. economy through increased foreign investment.

Jamf has announced its acquisition by Francisco Partners in a significant all-cash deal worth around $2.2 billion. This move marks a pivotal moment for Jamf, as going private could provide the company with more flexibility to innovate and grow without the pressures of public market scrutiny. It’s an exciting development for stakeholders and could lead to enhanced services and products for customers.

Aston Martin is reassessing its product plans as part of a broader strategy to reduce costs, which may lead to decreased investment in engineering and development. This shift is significant as it reflects the company's need to adapt to financial pressures, potentially impacting future vehicle innovations and the brand's market position.

National Energy Services Reunited has seen a significant boost in its stock prices following a lucrative contract win with Saudi Aramco. This partnership not only enhances the company's market position but also reflects growing confidence in the energy sector, especially in the Middle East. Investors are optimistic about the potential for increased revenue and expansion opportunities, making this a noteworthy development in the industry.

Wall Street anticipates a 0.25% interest rate cut from the Federal Reserve, but analysts suggest that Jerome Powell's upcoming press conference may lack substantial economic insights due to limited data availability. Instead, the focus will shift to balance sheet policy and financial stability, as highlighted by Deutsche Bank. This shift is significant as it reflects the current economic climate and the Fed's approach to navigating uncertainties.

Kraft Heinz has lowered its full-year outlook following disappointing third-quarter sales, highlighting ongoing concerns in the industry about rising inflation and decreased consumer spending. This matters because it reflects broader economic challenges that could impact not just Kraft Heinz, but the food industry as a whole, signaling potential shifts in consumer behavior.

Walmart is currently offering a fantastic deal on a highly effective steam cleaner, reducing its price from $230 to just $137 for a limited time. This promotion highlights how the right cleaning tool can significantly simplify household chores, making it an attractive option for anyone looking to enhance their cleaning routine.