Bloomberg Daybreak: US Edition French Government on Brink of Collapse; SpaceX Valuation Takes Off
Dec 3, 2024
Alan Katz, Bloomberg’s bureau chief in Paris, shares urgent insights into the looming crisis facing the French government as lawmakers prepare for a crucial no-confidence vote. He highlights the urgent need for a budget to prevent a collapse, delving into the political turmoil surrounding Prime Minister Michel Barnier. Katz also briefly touches on how this instability impacts financial markets, amid rising global uncertainties. Additionally, listeners get a glimpse into SpaceX's impressive valuation as they consider selling insider shares, raising the stakes in the tech investment arena.
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French Government Crisis
- The French government faces potential collapse due to no-confidence votes.
- Prime Minister Barnier's use of a constitutional override to pass the budget triggered this crisis.
Magnificent Seven Impact
- The Magnificent Seven stocks significantly drive market gains.
- Professor Aswath Damodaran advises buying these stocks during market corrections.
SpaceX Valuation
- SpaceX's potential valuation has increased significantly since last month's estimate.
- The potential sale of insider shares could value the company at $350 billion.