Stocks Rise Ahead of Jobs Report; Oil Gains on Hormuz Uncertainty | Bloomberg Brief 08/07/2026

Watch on YouTube ↗  |  August 07, 2026 at 12:12  |  42:58  |  Bloomberg Markets
Speakers
Abeer Abu Omar — Reporter, Bloomberg London
Ven Ram — Markets Live Reporter/Strategist, Bloomberg
Matt Bloxham — Head of Research, The Block
Christopher Hodge — Natixis Chief US Economist
Chloe Meley — Reporter, Bloomberg

Summary

US equity futures edge higher ahead of the July payrolls report. Oil gains on heightened risks around the Strait of Hormuz as Iran seeks to bar US and Israeli ships. The yen continues to weaken despite intervention, and analysts discuss the outlook for Fed policy, chip stock volatility, and SpaceX.

  • Markets await the July payrolls report with consensus around 78,000 jobs gained
  • Oil rallies after Iran attacks hostile targets in the Strait of Hormuz and seeks to bar US and Israeli ships
  • Houthi escalation in Yemen threatens Red Sea shipping and further supports crude prices
  • Japanese yen weakens past 158 per dollar, giving back half of last week's intervention gains
  • Natixis economist sees a bias toward a September Fed rate hike but data dependence remains high
  • Bloomberg Intelligence warns of continued high volatility in AI chip stocks due to capex surprises and uncertain AI opportunity sizing
  • SpaceX shares recover from earnings drop as lockup expiration allows retail buying and short covering
  • European stocks near record highs after the best quarterly earnings season in years
Ideas
Abeer Abu Omar Reporter, Bloomberg London 4:54
Supply disruption risks boost oil prices
Iran attacked hostile targets in the Strait of Hormuz, lawmakers seek to bar US and Israeli ships as part of a deal with Oman and may charge tolls on vessels deemed hostile, likely from GCC nations. Houthis escalate attacks on Yemen government and threaten Saudi ships in the Red Sea. Multiple waterways are at risk of disruption, pushing energy prices higher.
BNO HIGH
Ven Ram Markets Live Reporter/Strategist, Bloomberg 7:57
Yen weakens until BOJ hikes rates
Japanese yen interventions have historically negligible returns. The real fix is for the Bank of Japan to raise rates to neutral. Until that happens, the yen will not see its fortunes turn around and will remain under pressure.
FXY MED
Christopher Hodge Natixis Chief US Economist 30:56
Long-end yields will decline
Long-end Treasury yields are elevated but will decline because policy tweaks at the Treasury and the Fed can bring them down, and it is a politically sensitive issue that policymakers will address.
TLT MED
Matt Bloxham Head of Research, The Block 37:11
Semiconductor volatility to remain high
Chip stocks will see high volatility through the second half of the year and into next year because investors still need to figure out the size of the AI opportunity, relative positioning of different players, and there are likely more capital spending surprises.
SOC MED
Matt Bloxham Head of Research, The Block 39:08
SpaceX dip is buying opportunity
SpaceX's long-term story remains intact. The recent dip after earnings and lockup expiration was a buying opportunity, supported by short covering and retail investors who missed IPO allocations looking to increase exposure.
SPCX MED
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This Bloomberg Markets video, published August 07, 2026, features Abeer Abu Omar, Ven Ram, Christopher Hodge, Matt Bloxham discussing BNO, FXY, TLT, SOC, SPCX. 5 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Abeer Abu Omar, Ven Ram, Christopher Hodge, Matt Bloxham  · Tickers: BNO, FXY, TLT, SOC, SPCX