Bloomberg Daybreak: Europe Edition Daybreak Weekend: Fed Meeting, US Tech, European Defense Earnings
Oct 24, 2025
Mandeep Singh, a Senior tech analyst at Bloomberg Intelligence, dives into upcoming earnings from major tech players like Microsoft and Apple, discussing the impact of AI on investment strategies. Gerry Doyle, Bloomberg's Global Defence Editor, analyzes Europe's defense readiness and industry dynamics, spotlighting joint procurement initiatives and the need for increased defense budgets amidst geopolitical tensions. Together, they explore trends shaping both the tech and defense landscapes, offering insights into future market directions.
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CPI Signals More Fed Easing
- The September CPI details (modest tariff pass-through, cooling core goods and services, and rent slowdown) widen the Fed's room to cut rates.
- Stuart Paul sees those patterns increasing the likelihood of sequential cuts into December.
Treat Fed Guidance As Conditional
- Expect the Fed to keep messaging vague and emphasize that every meeting is live rather than promising a December cut.
- Treat forward guidance as conditional and watch incoming data before pricing future cuts.
AI Is Splitting The Mag7
- Gen‑AI is creating divergence among the Mag7 as cloud winners (Microsoft, Google) get stronger AI-driven top‑line lifts.
- Companies without big cloud businesses (like Meta) may not see the same AI revenue tailwinds.