Big Tech Faces Make or Break Moment | Open Interest 4/29/2026

Watch on YouTube ↗  |  April 29, 2026 at 17:59  |  1:29:55  |  Bloomberg Markets
Speakers
John Blackledge — Head of Research, Cowen
Katrina Dudley — Head of Digital Assets, Franklin Templeton

Summary

The video covers the busiest earnings day with Big Tech reporting, Middle East tensions driving oil higher, the Fed decision, Starbucks turnaround results, and Ackman's IPO. Markets tread water ahead of earnings, with focus on AI capex and cloud growth. The Supreme Court ruling and Kevin Warsh's nomination also feature.

  • Four of the Magnificent Seven (Alphabet, Amazon, Meta, Microsoft) report after the bell, with options implying a $800 billion swing.
  • Oil prices rise as the White House considers an extended blockade of the Strait of Hormuz.
  • The Fed is expected to hold rates, with Kevin Warsh clearing a key committee vote to become next chair.
  • Starbucks CEO Brian Niccol reports strong quarterly results driven by transaction growth and raises guidance.
  • Bill Ackman's Pershing Square closes $5 billion IPO, starts trading on NYSE.
  • Supreme Court limits use of race in drawing voting districts, potentially impacting midterm elections.
  • Booking Holdings cuts travel outlook due to Iran conflict; CEO expects recovery in second half.
  • TD Cowen analyst John Blackledge sees upside in Amazon, Alphabet, and Meta as cloud growth accelerates.
Trade Ideas
Brian Niccol 27:14
Starbucks turnaround driving transaction growth.
Starbucks' turnaround strategy is driving transaction growth across all income cohorts, supported by menu innovation, improved service experience, and supply chain enhancements. The company raised full-year guidance and momentum continues into April, indicating sustained consumer demand and profitable growth.
SBUX HIGH
John Blackledge Head of Research, Cowen 85:30
Cloud growth justifies elevated AI capex.
The hyperscalers (Amazon, Alphabet, Meta) have built in wiggle room in their capex guides, and cloud revenue growth is accelerating due to AI workloads. Investors expect strong AWS and Google Cloud growth (high 20s to 60% YoY), which should support elevated spending and justify current valuations. Management's confidence and positive data points make these stocks attractive.
AMZN GOOGL META MED
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This Bloomberg Markets video, published April 29, 2026, features Brian Niccol, John Blackledge discussing SBUX, AMZN, GOOGL, META. 2 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Brian Niccol, John Blackledge  · Tickers: SBUX, AMZN, GOOGL, META