Bloomberg Daybreak: Asia Edition
The Fed Holds Steady, Qualcomm Beats on China Strength
May 2, 2024
Adam Turnquist, Kunjan Sobhani, and Nancy Davis discuss the Fed's decision, Qualcomm's success in China, market strategies, and the impact of the Fed meeting on markets. They touch on inflation protection bonds, bond market stability, and AI's future in investment strategies.
22:11
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Quick takeaways
- Fed remains cautious on rate hikes, confident in economic growth despite inflation challenges.
- Qualcomm's success in China boosts sales forecast, showcasing strength in premium smartphone segment.
Deep dives
Fed Meeting Insights
The recent Fed meeting discussed the cautious yet confident stance of Chair Powell regarding economic indicators. Powell noted the unlikely possibility of a rate hike and expressed confidence in the economy's growth despite uncertainties in reaching the 2% inflation target. Market reactions were varied, with mixed responses to the Fed's comments on disinflation and concerns about currency stability in the Japanese market.
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