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Bloomberg Tech

Fizzling Tech Rally and Affirm's Revenue Beat

Bloomberg Tech

Bloomberg

Tech News, News, Business News

4.470 Ratings

🗓️ 25 August 2023

⏱️ 44 minutes

🧾️ Download transcript

Summary

Bloomberg's Caroline Hyde and Ed Ludlow break down whether or not the tech rally is exhausted. Plus, BNPL company Affirm beats revenue estimates and China's Meituan falls after warning that growth in its core meal delivery business will slow amid economic turbulence.

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Transcript

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0:00.0

Join global business leaders and investors at the Bloomberg Sustainable Business Summit, returning to Singapore on July 31st.

0:09.0

Take part in solutions driven discussions on how to drive business value and unlock opportunity

0:14.8

while remaining nimble in times of change and greater ESG accountability.

0:19.5

Learn more at Bloomberg Live.com slash sustainablebiz Singapore. That's Bloomberg Live.com slash Sustainable Biz Singapore.

0:24.0

That's Bloomberg Live.com slash sustainable Biz Singapore.

0:28.0

From the heart of where innovation, money and power collide in Silicon Valley and beyond,

0:37.0

this is Bloomberg Technology with Caroline Hyde and Ed Ludlow. Edla Loa. I'm Caroline Heide.

0:44.0

I'm Caroline Hyde at Bloomberg's world headquarters in New York.

0:57.0

And I'm Ed Ludlow here in San Francisco. This is Bloomberg Technology.

1:00.0

Coming up, the Tech Rally Ed. Is it exhausted? Strategy sour on the sector amid a

1:05.2

muted reaction to Invidia's results. We'll break down the outlook amid Jackson Hall.

1:10.3

Plus, by now, Pay Later Company, a firm beats revenue estimates in its fourth quarter

1:15.5

results there is an insane share reaction we will speak to the CEO Max left

1:20.4

chin and China's Meantuan falls after warning that growth in its core meal delivery business

1:25.4

is going to slow amid economic turbulence.

1:28.0

We'll have that and so much more throughout this hour.

1:31.6

But first, let's check in the Powell result and actually he

1:35.4

manages to stick to his usual party line no great surprises a hawkish tone

1:39.2

coming from the Fed chair over in Jackson Hole. We're looking at the

1:41.9

Nasdaq just off about a tenth of a

1:43.4

percent as we see Bonn Reels just pushed on the higher side, particularly at the

1:46.5

front end. We're up about four basis points, maybe a bit less on the longer end

...

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