Bloomberg Daybreak: Europe Edition Daybreak Weekend: Nvidia Preview, Poland Election, BOK Decision
10 snips
May 23, 2025 Stuart Paul, a U.S. economist from Bloomberg Economics, and Hyosung Kwong, who covers Korea for Bloomberg Economics, delve into pivotal global economic trends. They discuss the imminent challenges facing Nvidia amidst trade restrictions and the tech landscape. The upcoming presidential runoff election in Poland is analyzed, highlighting its potential to shift the country's EU relationships. The duo also explores monetary policy insights ahead of South Korea's central bank meeting, considering economic pressures and the impact of U.S. tariffs.
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US Q1 GDP Revision Insight
- The first quarter US GDP second read is expected to show flat or slightly negative growth due to trade tensions and higher economic uncertainty.
- Inventory growth may be revised up but could subtract from growth in coming quarters, signaling weak domestic activity.
April Core PCE Inflation Nuance
- April's core PCE inflation is likely to show modest 0.1% monthly growth, with goods prices rising but services prices, excluding housing, declining.
- This signals temporary easing of inflation, but tariff pass-through and rising services prices will lead to higher inflation ahead.
NVIDIA Earnings Strength Expected
- NVIDIA is expected to report strong earnings and guidance despite export restrictions and recent stock volatility.
- The company mitigates China export losses with alternative shipments and supply of other products like the Hopper series.