Episode summary
Daybreak Weekend: US CPI, Cannes Festival, Bessent Visits Japan | Bloomberg Daybreak: US Edition
Bloomberg Daybreak: US Edition
· · Hosts: Nathan Hager
Summary
The week ahead is dominated by inflation data, with April CPI due Tuesday, PPI on Wednesday and retail sales on Thursday. The guest argues that higher energy prices from the Iran conflict should show up in the numbers, with year-over-year CPI expected to jump to 3.7% from 3.3% and core CPI to 2.7% from 2.6%. He says producer prices could rise even more sharply and that companies may try to pass costs through to consumers, testing how much demand the economy can absorb.
The episode also flags several stocks tied to earnings and the AI buildout. Hims & Hers Health is seen as having a possible legal overhang lifted by its partnership with Novo Nordisk, while Applied Materials and Cisco are framed as beneficiaries of strong semiconductor and data-center spending, though margins and memory costs remain a risk.
Beyond markets, the program looks at the Cannes Film Festival and asks whether the business of cinema can regain momentum as streaming and AI reshape the industry. It closes with Treasury Secretary Scott Bessent’s trip to Japan, where yen weakness, possible BOJ rate hikes in June, and higher imported energy costs are central concerns.
Key takeaways
- The guest expects April CPI to accelerate to 3.7% year over year and core CPI to rise to 2.7% as energy costs feed through.
- The guest says producer prices could climb almost 5% in April, making pass-through to consumers a key question.
- Christine Aino says Hims & Hers could benefit if its Novo Nordisk partnership removes a legal overhang.
- Christine Aino says Applied Materials is facing high expectations, with options implying about a 6% move after earnings.
- The episode frames Scott Bessent’s Japan trip around yen weakness, BOJ policy, and the impact of higher imported energy costs.
Notable quotes
“The April reading on consumer prices comes out on Tuesday. Then we'll get a look at inflation pressures on business in the producer price index Wednesday”
“it's definitely baked into into the cake, not only that gas prices will cause a big jump in the CPI year-over-year”
“the control group. That's the number for retail sales that the market uses to say this is the best number to look at”
“the Can Film Festival is known for glitz and glamour amid the palm trees of the south of France”
“So it's really the the also the business backdrop of the festival. It's how well the industry is doing”
How the episode opens
Bloomberg Audio Studios, podcasts, radio, news. This is Bloomberg Daybreak Weekend, our global look at the top stories in the coming week from our Daybreak anchors all around the world. Straight ahead on the program, we look to some key inflation data in the US. I'm Nathan Hager in Washington. I'm Caroline Hebkin in London where we discuss whether the Can Film Festival can galvanize the business of cinema.
I'm Doug Krner looking ahead to US Treasury Secretary Scott Besson's visit to Japan. That's all straight ahead on Bloomberg Daybreak Weekend on Bloomberg 1130 New York, Bloomberg 991 Washington DC, Bloomberg 929 Boston, DAB Digital Radio London, SiriusXM121, and around the world on Bloombergradio.com and the Bloomberg Business App. Good day to you.
I'm Nathan Hager. We begin today's program with some key economic data in the US. The April reading on consumer prices comes out on Tuesday.
Then we'll get a look at inflation pressures on business in the producer price index Wednesday. And then we'll see how the consumers holding up when April retail sales come out Thursday. A busy week for Edward Harrison, senior editor for Bloomberg News and author of the Everything Risk newsletter.
Really pleased that Ed's got some time to join us here. Now, uh I'm sure I'm not the only one who sees inflation pressure. Um just driving by the gas station every day.
Ed, is this the month we're going to see Iran war impacts show up in the data?
Hey, Nathan. Yes, I think this is the the the uh the month. The real question is is whether or not it shows up less or more than is expected because you know if you look at the numbers on the Bloomberg terminal um we had 3.3 last month expected for this month year-over-year for CPI is 3.7%.
From the episode’s captions: roughly the first two minutes, lightly cleaned. Keep watching on YouTube →
Topics
- us cpi
- us ppi
- retail sales
- cannes film festival
- japan treasury trip
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Summary, takeaways and quote selection by Octagon. Quotes are short excerpts; the full conversation is in the episode.
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