Bloomberg Daybreak: Europe Edition Daybreak Weekend: Jobs Preview, France Conference, China-Iran Relations
Jun 27, 2025
Javier Blas, an expert on energy and commodities, joins Jenny Marsh, a leader in Greater China EcoGov, and Alan Katz, Paris Bureau Chief, to dive into key global issues. They discuss the upcoming June jobs report and how consumer behavior is shifting due to inflation. The conversation also highlights the significant economic conference in France amidst political challenges. Lastly, they explore the complex relationship between China and Iran, emphasizing geopolitical tensions and their implications for global oil markets.
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Tariffs Curtail U.S. Consumer Spending
- Tariffs and higher prices are causing U.S. consumers to cut back on discretionary spending like travel and dining.
- Consumers focus on necessities as income drops and inflation bites, signaling stagflation risks.
U.S. Labor Market Cools
- U.S. job growth is slowing, with uncertainty if June will see below 100,000 new jobs.
- Rising unemployment rate to 4.3% signals cooling labor market affecting economy near FOMC year-end forecasts.
Oil Market Stable Despite Middle East Tensions
- Oil prices around $65-$70 a barrel reflect market belief that Middle East conflict is waning and supply through key chokepoints remains stable.
- OPEC plans to increase production, adding to a current oil glut in the global market.