Trump Defends Tariff Plan, LVMH Plunges as China Spending Slump Worsens | The Opening Trade 10/16

/ 4 hours ago October 16, 2024

From Bloomberg Markets and Finance.

Republican presidential candidate Donald Trump defended his plans to overhaul the US economy through dramatic tariff increases and more direct consultation with the Federal Reserve.  LVMH shares plunged after sales of fashion and leather goods fell for the first time since the pandemic, showing the scale of the slump in the demand from the Chinese consumer. UK inflation slipped below the Bank of England’s 2% target for the first time in over 3 years, setting the stage for a second interest-rate cut next month. The Opening Trade has everything you need to know as markets open across Europe. With analysis you won’t find anywhere else, we break down the biggest stories of the day and speak to top guests who have skin in the game. Hosted by Anna Edwards, Lizzy Burden and Kriti Gupta.

Chapters:
00:00:00 – Intro
00:01:16 – The Agenda: Trump, UK CPI, LVMH Sales Drop
00:12:32 – UK Inflation in September Falls to 1.7%
00:23:31 – British Pound Falls Below 1.30
00:39:33 – China Demand Cools on LVMH Handbags
00:45:34 – European Market Open; Deustche Banks’ Uleer Says FTSE 100 Better than Rest of Europe
01:04:43 – ASML & Global Chip Stocks Sheck $420B
01:11:39 – AIB CEO Colin Hunt on Agreed €500M Share Buyback
01:17:47 – Ireland’s Post-Crash Recovery
01:26:30 – Donald Trump Says Biden Administration is Overspending
01:31:39 – Wall Street Banks Notch Surprise Trading Haul
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