Bloomberg Daybreak: Europe Edition Stocks Hit Record High, Trump Targets Goldman, Mega-Batteries Mega Trade
Aug 13, 2025
Global stocks soared to record highs, fueled by reassuring U.S. inflation data and expectations of a Federal Reserve interest rate cut. President Trump took aim at Goldman Sachs, criticizing their predictions on tariffs. In the UK, financial pressures are threatening the accuracy of economic data, while Germany is witnessing a shift in political dynamics with rising far-right influence. Meanwhile, the surge in battery storage investments across Europe is capturing attention as commodity traders adapt to volatile electricity prices.
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Tariffs Haven't Sparked Broad Inflation
- Markets jumped to records because tariff-driven goods-price rises looked limited in the latest US inflation data.
- Traders now price a September Fed cut as labor weakness outweighs modest goods inflation concerns.
Trump Mocks Goldman's Tariff Forecast
- Donald Trump criticised Goldman Sachs CEO David Solomon, joking he should stick to DJing after a research note on tariffs.
- Trump accused the bank of making a “bad prediction” about tariffs' impact on consumer prices.
Monthly Payrolls Are Market-Critical Data
- EJ Antony proposed pausing monthly BLS payroll reports and switching to quarterly releases until issues are fixed.
- Markets and critics warn less-frequent data would harm trust and market functioning.