Bloomberg News Now Trump-Xi Reach One-Year Truce, WPP Shares Slump, More
Oct 30, 2025
In an engaging discussion, the hosts highlight Trump’s positive remarks about his meeting with Xi and the impact of recent tariff cuts on China’s fentanyl. The conversation shifts to the market dynamics surrounding NVIDIA’s impressive valuation and its connection to potential OpenAI IPOs. They also analyze the mixed reactions from Big Tech earnings and WPP's plans to restructure amid lowered revenue guidance. Finally, mirroring global economic trends, France showcases surprising GDP growth despite its political chaos.
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US-China One-Year Truce Lowers Near-Term Risk
- Trump and Xi agreed a one-year truce that cuts some US tariffs and eases tensions between the countries.
- The leaders signalled stepped-up trade cooperation and future reciprocal visits, lowering immediate geopolitical risk for markets.
US Keeps Limits On Advanced AI Chips
- Trump said AI semiconductors were discussed but he ruled out giving China access to NVIDIA's most advanced Blackwell chips.
- The stance preserves US tech restrictions while allowing limited talks with firms like NVIDIA.
AI Spending Drives Tech Valuations And Scrutiny
- NVIDIA hit a $5 trillion market cap amid reports OpenAI may IPO near a $1 trillion valuation.
- Big tech beat revenue estimates, but markets scrutinised their heavy AI capital expenditures.