Oil Drops as Hormuz Talks Begin | Horizons Middle East & Africa 7/24/2026

Watch on YouTube ↗  |  July 27, 2026 at 07:33  |  46:07  |  Bloomberg Markets
Speakers
Haig Bathgate — CEO, Kalanick Capital
Bloomberg Asian Equities — Asian Equities Reporter, Bloomberg
Avril Song — Reporter, Bloomberg
Stuart — Executive Editor, Middle East, North Africa and Russia, Bloomberg
Tamer Charife — Guest, Deloitte
Chloe Meley — Reporter, Bloomberg

Summary

The episode covers market reactions to a US-Iran military pause and Strait of Hormuz talks, causing oil to drop and stocks to gain. It highlights CXMT's massive 500% IPO surge in China, examines Fed policy expectations with a focus on holding rates, and features a fund manager arguing that Asian equities and US large-cap tech are attractively priced. Discussions also touch on AI capex scrutiny, GCC AI infrastructure ambitions, and European earnings previews.

  • US and Iran hold fire, oil retreats as Hormuz shipping talks begin.
  • CXMT shares soar 500% in China's second-largest IPO, tapping AI memory demand.
  • Fed expected to hold rates; market narrative shifts away from forward guidance.
  • Callanish Capital CEO sees value in beaten-down US mega-cap tech and Asian equities.
  • AI picks-and-shovels trade faces continued unwind on capex payoff doubts.
  • GCC nations invest heavily in AI data centers and sovereignty.
  • European auto sector braces for weakness from China competition.
  • Morocco seeks financing for $26 billion Africa-Europe gas pipeline.
Ideas
Haig Bathgate CEO, Kalanick Capital 19:46
Large-cap US tech is historically cheap.
U.S. incumbent mega-cap tech (traditional Magnificent Seven, excluding Tesla and SpaceX) is trading at extremely cheap valuations, at around 90-year relative discounts, offering an attractive entry level.
QQQ MED
Haig Bathgate CEO, Kalanick Capital 20:41
Asia equities offer attractive relative value.
Asia broadly, including China, is attractively priced relative to the U.S. market, trading at a significant discount; a two-to-three-year view allows investors to ride out the volatility and capture the value.
AAXJ MED
Bloomberg Asian Equities Asian Equities Reporter, Bloomberg 29:02
CXMT poised for strong market share growth.
CXMT, China's homegrown memory chip champion, surged over 500% on its IPO; it is rated Buy by analysts who expect its market share to expand from 10% to 18% by end-2026, supported by China's push for tech self-sufficiency and strong investor appetite for memory chip stories.
CXMT MED
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This Bloomberg Markets video, published July 27, 2026, features Haig Bathgate, Bloomberg Asian Equities discussing QQQ, AAXJ, CXMT. 3 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Haig Bathgate, Bloomberg Asian Equities  · Tickers: QQQ, AAXJ, CXMT