In the US, risky assets slid, with tech stocks and cryptocurrencies bearing the brunt of the selling, after long-simmering concerns about lofty valuations were fanned anew by a chorus of Wall Street executives who warned investors to brace for a pullback. In South Korea, the equity benchmark slumped as valuation concerns hammered recent winners such as chip stocks, defense and shipbuilders. For more on the latest market action, we heard from Anna Wu, VanEck Cross-Asset Investment Specialist. She spoke to Bloomberg's Shery Ahn and Avril Hong.

Plus - we go to Singapore, where we speak to Sandeep Malhotra, Mastercard Executive Vice President for Core Payments in Asia Pacific. He talks about how technology, partnerships, and regulation are redefining how money moves across the region. From real-time payments to cross-border interoperability and the role of AI in fraud prevention, Malhotra shares how Mastercard is modernizing its core network while supporting financial inclusion. We also explore how consumer behavior and digital infrastructure in Asia are influencing global payment trends.

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Goldman Sachs Chairman and CEO David Solomon discusses US-China Trade Relations and M&A Activity. Solomon spoke to Bloomberg's Yvonne Man and David Ingles on the sidelines of the Hong Kong Monetary Authority's Global Financial Leaders' Investment Summit.

Plus - The start of what's known as the best month of the year for stocks saw tech rallying as Amazon.com Inc.'s $38 billion deal with OpenAI added fuel to the artificial-intelligence trade. We speak to Brad Bernstein, Managing Director at UBS Private Wealth Management.

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China will effectively suspend implementation of additional export controls on rare earth metals and terminate investigations targeting US companies in the semiconductor supply chain, the White House announced. The White House issued a fact sheet on Saturday outlining some details of the trade pact agreed to earlier this week by President Donald Trump and Chinese leader Xi Jinping that aimed to ease tensions between the world's largest economies. Also, there were some PMI releases across Asia. That would include South Korea and Taiwan. For more on the US-China trade fallout and the latest eco data, we turn to Paul Dobson, Bloomberg's Executive Editor for Asia Markets.

Plus - More than half of S&P 500 companies have reported quarterly results and Uber Technologies and McDonald's earnings will likely underscore deteriorating consumer sentiment in the US. Meantime, last week Big Tech was in the spotlight for 5 key players. For more on what to look out for in the week ahead, we speak to Carol Schleif, Chief Investment Officer at BMO Private Wealth.

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Bloomberg Daybreak Weekend with Host Nathan Hager take a look at some of the stories we'll be tracking in the coming week

• In the US – a look at how earnings are impacting global markets
• In the UK – we preview the Bank of England rate decision
• In Asia – looking ahead to the RBA Decision and Chinese economic data

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US President Donald Trump emerged from his meeting with Chinese leader Xi Jinping beaming, labeling the conversation "truly great. "But the one-year truce struck on Thursday in South Korea is likely to only stabilize relations between the world's two largest economies rather than resolve fundamental differences, with both sides buying time to further reduce dependence on each other in strategic areas. And it made clear just how much stronger China has become since Trump's first term in office. Trump's move to cut the fentanyl tariff and extend the existing truce on reciprocal tariffs will leave many products facing a levy around 47%, low enough for China's massive manufacturing base to remain competitive with regional rivals. Just as significantly, the US agreed to suspend a rule expanding restrictions on blacklisted Chinese firms, showing that Xi's sweeping rare earth curbs could potentially put a cap on new US export controls — something China has sought for years. We heard from Max Baucus, former US Ambassador to China. He spoke to Bloomberg's Shery Ahn and Avril Hong.

Plus - in the US, after the bell, Amazon reported third quarter results that beat analyst estimates driven by its cloud business growth. Apple meantime, reported revenue in Greater China fell well short of analysts' estimates in the latest quarter. We speak to Ross Mayfield, Investment Strategist for Baird Private Wealth Management.

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In the late hours in the US, Alphabet Inc. reported solid sales. Meta Platforms Inc. sees total expenses to significantly rise in 2026. Microsoft Corp.'s expansion in its Azure unit failed to inspire traders. For more on the latest earnings, we turn to Daniel Newman, CEO of the Futurum Group.

Plus - Federal Reserve Chair Jerome Powell's blunt warning that investors need to rein in expectations for a December interest-rate cut underscored a growing tug-of-war among US policymakers who are opposed in their outlooks for jobs and inflation. While Powell made it clear that the primary concern for some is a cooling job market, others inside the Fed are warning persistent inflation will limit room for more easing. And a freeze on the release of official economic data during the ongoing government shutdown is only hardening the divide.Powell's comments came after the Federal Open Market Committee voted 10-2 to lower the target range for the federal funds rate by a quarter percentage point, to 3.75%-4%. It was the second straight rate cut, but for the first time in six years, there were dissents in both directions — with one official advocating a larger reduction and another preferring to stay on hold. For more, we turn to Sean Clark, Chief Investment Officer at Clark Capital.

**Disclaimer, at the time of this recording, US President Donald Trump and Chinese President Xi Jinping have not met yet. They are set to meet later on Thursday in South Korea (local time).

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Asian markets opened higher, lifted by Wall Street optimism that artificial intelligence will keep powering tech profits — and growing bets the Fed could cut rates. Stocks gained in Japan and South Korea, while Hong Kong remained closed for a holiday. The yen strengthened after Treasury Secretary Scott Bessent urged Japan's new government to give the Bank of Japan more room to fight inflation — a contrast to his message for the Fed at home. For more, we'll hear from Bloomberg MLIV Strategist Mark Cranfield.

In the U.S., a rally in big tech pushed stocks to record highs as investors bet AI will keep driving earnings. Five major tech firms report later this week — key tests for whether spending on AI infrastructure keeps paying off. We spoke to Scott Ladner, Chief Investment Officer at Horizon.

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Wall Street's hopes the US and China are nearing a trade deal lifted riskier assets, with stocks hitting all-time highs amid a rally in crypto. As demand for safety waned, gold fell alongside short-term bonds. The S&P 500 climbed 1.2% as Chinese and US trade negotiators have lined up an array of diplomatic wins for Donald Trump and Xi Jinping to unveil at a summit this week. With further Federal Reserve interest-rate cuts on the way, the profit outlook is looking increasingly brighter. For more perspective, we spoke to George Efstathopoulos, Multi Asset Portfolio Manager at Fidelity International.

Plus - Earnings reports this week from five of the so-called "Magnificent Seven" companies will center around artificial-intelligence investment plans as the battle to scale capabilities intensifies. Also, investors look to the Federal Reserve meeting this week for clues on the path of rate cuts. We speak to Ahmed Riesgo, Chief Investment Officer at Insigneo.

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