Bloomberg This Weekend | New Strikes on Iran, Devastation in Venezuela, AI Election Influence

Summary

Bloomberg This Weekend covers renewed US-Iran strikes disrupting Strait of Hormuz shipping, Venezuela's devastating earthquakes, AI's growing role in midterm elections, a tech stock selloff driven by AI spending concerns and leveraged ETF flows, inflation fears prompting potential Fed rate hikes, US weapons stockpile shortages boosting defense contractors, and shifting pet retail spending trends.

• US launches new strikes on Iran after drone attacks on tankers, with oil prices plunging despite geopolitical tensions.
• Venezuela quake death toll nears 1,000; international rescue efforts ramp up while USAID's dismantlement hampers US relief.
• Tech stocks suffer a bruising week as AI spending fears and leveraged ETF flows amplify selling; Nasdaq and S&P 500 finish in the red.
• Analysts warn memory chipmakers like SK hynix and Samsung face a capex cycle that dims investment prospects.
• Fed's Kashkari signals potential rate hike as inflation stays above target, with half of policymakers expecting tightening this year.
• Defense contractors Lockheed Martin and Raytheon secure multi-billion-dollar agreements to rapidly restock missiles used in Iran conflict.
• AI-generated deepfakes and super PAC money reshape US midterm campaigns, with data centers emerging as a local political battleground.
• Pet spending remains strong, but consumers shift toward value-driven channels like Amazon and Chewy.