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Good morning, I'm Nathan Hager and I'm Karen Moscow. Here are the stories we're following today.
Karen, we begin with new tensions in the Caribbean. The Cuban Coastguard has shot and killed four people on a speedboat registered in Florida. Cuba's government says the ten armed people on board were Cubans living in the US who plan to enter the country to fight the government. Secretary of State Marco Rubio says the US will conduct its own investigation.
It is highly.
Unusual to see shootouts an open sea like that. It's not something that happens every day. It's something, frankly that hasn't happened with Cuba in a very long time. But we're going to find out. We're not going to base our conclusions on what they've told US.
Secretary of State Rubio spoke to reporters last night, and we get more from Bloomberg Deputy Washington Bureau Chief Laura Davison.
Is this hitting at a really moment between US and Cuba tensions. You know that there's been a US embargo of oil to Cuba for several weeks now, and the island is really facing an economic crisis, as there's a major energy shortages and the country is essentially running out of money.
Bloomberg's Lord Davison reports. Cuba's Interior Ministry says the US flag boat opened fire on Cube and security forces within one nautical mile of the province of Via Clara. A US official told The New York Times the people on the vessel were trying to get relatives out of Cuba, and no US Navy or Coastguard ships were involved.
Let's get you some new developments in the Middle East.
Nathan.
US and Iranian officials are meeting in Geneva today for the latest round of nuclear talks, and we get the very latest with the Bloomberg Middle East correspondent Jumana Bursechi.
There's a glimmer of hope. The fact that these negotiations are going ahead is perhaps a positive sign. I will tell you that expectations are very, very low in terms of securing a breakthrough. But the US has been applying a lot of pressure on Iran the last couple of days, not just with that huge military build up, all of the verbal comments from presidential He even mentioned Iran in the State of the Union and the latest round of sanctions and some of those entities that are linked to
Iran as well in the last twenty four hours. So there is a lot of pressure on Iran to come to the table and agree to some form of a diplomatic resolution with the US.
And bloomergeddermana Burstchi says, Taran's priority in the talks is the lifting of sanctions that have hobbled its economy.
Well.
Kaar in the US is vowing to maintain high tariffs on China, hours after Beijing warned against any future hikes. US trade representative Jamison Grier says President Trump wants to keep tariffs on China steady at a range of thirty five to fifty percent.
Overall.
The US has imposed a one hundred and fifty to eight ten percent global tariff. Following the Supreme Court defeat for the president, Greer tells Bloomberg, the President wants to bump up that tariff.
Right, We'll put out a supplemental proclamation that the President will sign going to fifteen percent where appropriate. Remember, before the Supreme Court struck down the tariffs, a lot of these countries had agreed to have US tariffs on them of eighteen percent, nineteen percent, twenty percent, so going up to fifteen percent for them, at least temporarily, it's better than the deal that they had.
US Trade reb Jamison Grier says President Trump will be in Beijing at the end of next month to discuss extending the tariff truce with China. Get the full conversation on the new Bloomberg video Hub. It's at Bloomberg dot com slash Videos.
Now, let's get to the latest on the Jeffrey Epstein scandal. Nathan. Former President Bill Clinton, and former Secretary of State Hillary Clinton are set to face questioning from lawmakers about donations to the Clinton Foundation boosted by Epstein and Bloomberg. Amy Morris has more from Washington.
The Clintons are expected to testify before a House panel over the coming two days. They'll be sworn in, they have to answer questions under oath, and they initially refuse to appear. They finally agreed after months of negotiations. House Oversight Committee chair James Comer says, they have a lot of questions.
One of the questions that we all have in both parties is how was Jeffrey Epstein able to surround himself with the most powerful people.
In the world.
House Oversight Panel Democrats will brief the media after those depositions. The Clintons say they're being selectively prosecuted by Republicans on that committee in Washington, Amy Morris, Bloomberg Radio.
Right, Amy, thank you. Separately, the Justice Department says it'll look into whether it improperly withheld documents from its Epstein files. That announcement comes after several news organizations reported that records involving uncorroborated accusations from a woman against President Trump were not among those released to the public.
Well, let's turn to the markets now, Nathan, where a rally in stocks is stalling following in Vidia's latest sales forecast. The dominant maker of artificial intelligence processors did deliver profit and first quarter outlooks that easily beat analyst estimates. The chipmaker said fiscal first quarter revenue will be about seventy eight billion dollars, and that was more than five billion dollars above the average analyst estimate, but it did fall
shy of some of the loftiest projections. Matthew Bloxham covers in Vidia for Bloomberg Intelligence.
In isolation, it is a great number and it's really strong growth here on you, but I think you have to put it in the context of where Nvidia is right now in terms of the overall market perceptions and where the share price assistian It's a four point seven something trillion dollar company. There's a huge amount of forward growth baked into the share price, and these numbers, even though they on paper beat the average analyst expectation, I
think that the whisper numbers. So if you like, we're kind of higher.
And Bloomberg Intelligence is Matthew Bloxham says in video, still faces uncertainty in China. For now, the company will continue to exclude data center revenue and China from its forecast, and right now, shares of Nvidia more than one and a half percent in early trading.
Well software stocks could be under pressure once again this morning. Karen, following earnings from another former high flyer, Bloomberg's John Tucker, joins us with more that John.
And Salesforce gave a lukewarm outlook for sales growth. Nathan, the leading maker of customer management software or software as a service SaaS, Salesforce has become a poster child for Wall Street worries about the impact of AI. The company says revenue is going to be about forty six billion dollars in the new fiscal year. That forecast is aligned with analyst estimas, but it is not impressing investors. Shares are down close to four percent pre market, and the CEO,
Mark Benioff, he doesn't sound too worried. He says this is not our first SaaS apocalypse, as he puts it. On the San Francisco based company shares, they're down about twenty seven percent this year, alongside competitors like into It, Workday and Service Now you know, New York Time, John Tucker, Bloomberg.
Radio, Ry John, thank you, and up programming. Note. The markets may pause for the weekend, but the world does not, and that's why we're bringing you a new radio and TV show, Bloomberg This weekend is looking beyond the daily headlines to the bigger things driving politics, business and culture. Joined David Gura, Christina Raffini, and Lisa Matteo for smart conversations and in depth interviews that help make sense of
the week that's been and what comes next. Saturdays and Sundays from seven am Eastern on Bloomberg Radio, TV and the Bloomberg Business App. Time now for a look at some of the other stories making news in New York and around the world. And from now we're joined by Bloomberg's and Michael Barr. Michael, Good Morning, Good morning, Karen.
There are more calls for Republican Congressman Tony Gonzales of Texas to step down. It comes a bit questions about whether he had an extra maarital affair with a staffer who died by suicide last year. Fellow Republican Florida Congresswoman Anna Paulina Luna, I think.
That Tony Gonzales should not be seeking re election.
I think that this is a gross reflection of everything wrong with Washington, and it's not just on the Republican side.
It happens on the Democrat side.
And I'm thinking about potentially bringing forward to centure next week for Tony Gonzalez.
A congressman, said he had no plans to resign following a meeting with out speaker Monk Johnson. Last week's deadly shooting during a youth hockey game in Rhode Island has claimed a third life, whose daughter and grandson were also killed. Pawtucket police say Gerald Dorgan, who had been in critical condition, has died from his injuries. The mayor of Pawtucket says we are heartbroken to learn that another life has been lost as a result of last Monday's senseless shooting at
Lynch Arena. The NYPD continues to investigate a huge snowball fight at Washington Square Park in Manhattan Sunday, where officers were seen being pelted with snowballs. City Police Commissioner Jessica Tish called the behavior disgraceful and criminal, am vowed to continue the investigation. New York Mayor zoron Mumdani says he has no plans to limit organize snowball fights within the city, but says he has seen the videos.
You know, I've said time and time again that I having seen these videos. To me, it was a snowball fight that got out of hand and it should be treated accordingly.
Mayor Mam Donnie says he appreciates the NYPD's work during the winter weather. Celebration of life services begin today in Chicago for civil rights activists and former presidential candidate the Reverend Jesse Jackson. Jackson, who died on February seventeenth at age eighty four. Will Lion repose at Rainbow Push Headquarters through tomorrow, Global News twenty four hours a day and whenever you want it with Bloomberg News Now. I'm Michael Barr, and this is Bloomberg Kevin.
Thanks Michael. A time now for our Bloomberg Sports Update, and for that we bring in John stash Hour.
Thanks Darren Marty gave me the NBA Oklahoma City at Detroit that got the two best records. The Thunder played without five of their six top scorers and the Pistons won one twenty four to one. Sixteen. Jalen Durham Keen Cuttingham both scored twenty nine points. Tenth straight win for San Antonio, who's only two games behind the Thunder. The Spurs won in Toronto. James Harden it was just traded to Cleveland as a broken thumb. He could be out for a while. College basketball on the Big East, Yukon
blew out Saint John seventy two to forty. That's Bloomberg Sports Update.
Stay with us. More from Bloomberg Day Break coming up after this.
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Good morning, I'm Nathan Hager. The earning story of the week is in the books, but the reaction to Nvidia's latest results may still be being told. The AI chip giant did deliver a first quarter outlook that easily beat the average Wall Street estimate, but some of the most bullish investors in the AI arms race may have been left a little bit less than impressed. Joining us now is someone who's very bullish on the AI story. Dan Ives,
Global head of Tech Research at Webbush Securities. So the top line number seventy three percent sales game in the quarter to sixty eight point one billion dollars in the projection for this quarter seventy eight billion, the stock is kind of moving a little bit higher. Your reaction to the numbers, Dan, good morning.
Yeah, great to be here. Look, I think they were stunning numbers. And if you look especially data center and demand seventy five percent growth. Look, I think there's a stock that's up three to five percent today, you know, And I think it's one where you talk about some of the AI bubble fears. You look at what they put together, this speaks to really a cappec supercycle that that's even accelerating more in the street expected. That's going to be a huge positive for the rest of tech.
And the knee jerk reaction here is very underestimated in terms of writing the stock and the tech's going to do from this.
So why do you think that we're not seeing that kind of more bullish reaction that you think this stock should show up in it.
Look, we're in what I call it an AI ghost trade. I mean, it's been very name negative sentiment that we've seen over the last month, you know, especially from anthropic some of the caud worries. And I think right now this is a guilty to a proven as in tech market. But when you look at these numbers and you look at cappacs and the story it's telling, it's that if you think about this is called second third inning of the AI revolution, markets treating it like it's seventh eighth inning,
And I think that is the key here. You mean, you've talked about this over the years, and under knee jerk reactions, you go through these sort of roles. That's what we're going through. The numbers speak for themselves.
Well, of course, the number that still hangs over this story, six hundred and fifty billion dollars from the hyperscalers on cap backs. Did Jensen Wong, the CEO, do enough in the call to assure investors that that kind of spending from its own customers is going to pay off for them.
Yeah, I think, But I mean he did an excellent job talking about how the cap beex is going to pay for Nvidia. What that means that this next phase specifically, not just Blackwell but Rubin and I think you'll hear more about that, you know, a GtC in mid March. Look, I think if there's a blemish, it's the continued theme. China is basically a goose egg right now because of the restrictions investors want to see China. Ultimately that become
what I believe could be. You know, when you think about the acceperation, a incremental five percent growth for a video, but right now that's in the hands of the government given the restrictions.
In our last minute, Dan, we also got results from a salesforce kind of a disappointing revenue forecast there. What does that mean for the software story going forward?
We saw yes workday that was down and then ultimately ended up up. I think Salesforce. I think this is actually a great conference called by Benning. Look the AI's aheadwind in the near term, but this will be a tow in Ne're turning it around. And I think when he laid out in terms of the Girl strategy should put in the investors at ease. And I think you combine now with Nvidia and it starts to fight the AI ghost trade, which has been to black Cloud for Microsoft, for Oracle to overall software.
Wow. This is Bloomberg day Break, your morning podcast on the stories making news from Wall Street to Washington and beyond.
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I'm Karen Moscow and I'm Nathan Hager. Join us again tomorrow morning for all the news you need to start your day right here on Bloomberg Day.
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