Episode summary
Daybreak Weekend: US Jobs, Ukraine Funding, Australia GDP | Bloomberg Daybreak: US Edition
Bloomberg Daybreak: US Edition
· · 39 min · Hosts: Nathan Hager
Summary
The episode previewed three major themes for the week ahead: the May U.S. jobs report, fresh EU financing for Ukraine, and Australia’s first-quarter GDP. Nathan Hager said economists expect the U.S. unemployment rate to hold at 4.3%, with the broader labor market still in a low-hire, low-fire pattern as companies wait on tariffs, the war, and AI-related changes. Michael McKee argued that the payrolls number may not be dramatic unless it comes in much stronger or weaker than expected.
On company news, Natalyia Kijvich highlighted Broadcom, CrowdStrike, and Macy’s as stocks to watch. Broadcom’s AI revenue, buybacks, and raised analyst targets have helped drive a 23% gain this year, while CrowdStrike has been even stronger, up about 43% as investors debate whether AI is helping or disrupting cybersecurity software. Macy’s is being watched for signals on consumer spending, with analysts looking for comparable sales growth around 1.3% and management’s view of an “E-shaped” recovery.
Caroline Hepker’s segment focused on Ukraine’s war financing and battlefield outlook. Tony Halpin said the EU’s 90 billion euro package is crucial to keep Kyiv funded through a prolonged stalemate, while Ukraine’s drone innovation has helped offset Russia’s larger manpower and industrial base. In Asia, James McIntyre said Australia’s economy is likely to cool, with GDP growth slowing from 0.8% in the prior quarter to around 0.5% or below, while inflation, labor-market cracks, and housing policy remain key watchpoints.
Key takeaways
- Michael McKee said the May U.S. jobs report is likely to be boring unless payrolls deviate materially from the expected 50,000 to 115,000 range.
- Natalyia Kijvich said Broadcom’s AI revenue expectations, stock buybacks, and analyst upgrades have helped lift AVGO 23% year to date.
- Natalyia Kijvich said CrowdStrike’s AI-linked optimism and a Wedbush target hike to $700 have helped push the stock up about 43% this year.
- Tony Halpin said the EU’s 90 billion euro package should keep Ukraine funded for two years and reduce immediate pressure on its wartime economy.
- James McIntyre said Australia’s first-quarter GDP should slow to 0.5% or below as energy shocks, weaker consumer confidence, and softer labor-market conditions feed through.
Notable quotes
“I hope you have a high tolerance for boredom, at least according to what the economists are predicting”
“The unemployment rate doesn't change. 4.3% is the forecast. And that's basically what the Fed is looking at”
“The conflict in the Middle East has pushed Ukraine down the agenda, but in June, the country is expected to start receiving 90 billion euros from the EU”
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'll look to some key jobs data in the US. I'm Nathan Hager in Washington. I'm Caroline Hepka here in London where we're looking ahead to the EU sending fresh funds to Ukraine and what comes next in this ongoing war.
I'm Doug Krer looking at whether Australia's economy will show signs of cooling in Q1. 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 Labor Department's allimportant non-farm payrolls report for the month of May is due out this Friday at 8:30 a.m.
Wall Street time. For more on the numbers and their impact on federal reserve policy, we are joined by Bloomberg international economics and policy correspondent Michael McKe. We've been looking at this labor market talking about low hire, low fire for so long.
Mike, is this print going to be low drama?
Uh, let's just say I hope you have a high tolerance for boredom, at least according to what the economists are predicting. — Another low high or low fire. The unemployment rate doesn't change. 4.3% is the forecast. And that's basically what the Fed is looking at. They're less concerned with the number of jobs created. And that will um basically change as the the week goes on towards the jobs number. um as we get additional information, but it's it doesn't look like we're going to have any kind of major change in the number of jobs.
From the episode’s captions: roughly the first two minutes, lightly cleaned. Keep watching on YouTube →
Topics
- us jobs report
- ukraine funding
- eu funding
- australia gdp
- stock picks
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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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