Arm’s share price goes crazy
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 14 February 2024
⏱️ 12 minutes
🧾️ Download transcript
Summary
Investors scaled back bets that the US Federal Reserve will begin cutting interest rates in May, and Arm shares soared after the UK chip designer reported higher revenues boosted by strong demand for artificial intelligence. Plus the FT’s Felicia Schwartz explains how the relationship between US President Joe Biden and Benjamin Netayahu, prime minister of Israel, is being affected by the war in Gaza.
Mentioned in this podcast:
Investors scale back bets of May rate cut on strong US inflation figures
Unhedged newsletter: Is Arm really an AI stock?
Arm’s an AI stock now. When’s the crash?
The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.
Read a transcript of this episode on FT.com
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Transcript
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| 0:00.0 | The UK's energy partner. |
| 0:06.0 | Learn more at equinore. |
| 0:10.0 | Good morning from the Financial Times. Today is Wednesday, February 14th, and this is your |
| 0:17.3 | F.T. News briefing. U.S. inflation slowed, but investors just can't seem to get psyched about it and if you miss |
| 0:25.2 | the absolute terror that armed stock has been on we'll fill you in on the latest. |
| 0:30.3 | Plus US President Joe Biden and Israeli Prime Minister Benjamin Netanyahu |
| 0:34.2 | have known each other for 40 years, but the war in Gaza is really testing that |
| 0:38.9 | relationship. |
| 0:39.9 | Biden needs Netanyahu and they don't have to be besties, and they're not, |
| 0:45.0 | but they need to be able to work together. |
| 0:47.0 | I'm Mark Filipino, and here's the news you need to start your day. The Federal Reserve expects to cut interest rates three times this year, but the big question is when investors thought the Fed might start cutting in |
| 1:16.2 | March then they started thinking it's going to be May but yesterday's US inflation report |
| 1:22.2 | poured cold water on that too. |
| 1:24.9 | January's inflation rate slowed less than expected. |
| 1:28.3 | Estimates clock the consumer price index at 2.9 percent, and it was actually 3.1%. Investors expressed their displeasure with a good old |
| 1:37.2 | fashion sell-off. Yields on the two-year Treasury rose nearly two-tenths of a percent, |
| 1:42.1 | its biggest one-day move since the last March. |
| 1:44.5 | The S&P 500 fell about 1.5 percent. |
| 1:48.0 | Meanwhile, UK inflation figures are due out today. Over the past week, arm stock price has gone through some pretty incredible swings. |
| 2:03.2 | The UK Chip designer jumped 65% over the past few days. |
| 2:07.7 | Now the Buzz wore off a bit yesterday, |
| 2:10.8 | but even with the significant sell-off, |
... |
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