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China Hits Back at Trump Election Meddling Claims | The Pulse 7/17/2026

Watch on YouTube ↗  |  July 17, 2026 at 13:11  |  48:29  |  Bloomberg Markets
Speakers
John Bolton — Former US National Security Advisor / Ambassador
Bloomberg Tech Roundtable Guest — Bloomberg Guest
Tim Loh — Bloomberg Reporter
Chad Thomas — Bloomberg Europe Executive Editor
Andrea Felsted — Columnist, Bloomberg Opinion

Summary

The episode covers a global tech selloff driven by chipmaker weakness, SpaceX launch delay, Netflix earnings, and Google Gemini setback. John Bilton of JPMorgan Asset Management discusses the rotation from momentum to value, favoring US small caps, cheap European equities, and a potential UK gilts recovery. Political segments include China denying US election meddling claims and the UK transition to Andy Burnham as Labour leader and PM. Breaking news highlights Germany’s shift toward Unicredit’s Commerzbank takeover, while Adidas emerges as the World Cup sponsorship winner.

  • Tech selloff intensifies with Philadelphia Semiconductor Index near bear market; Netflix and SpaceX shares under pressure.
  • John Bilton sees rotation from expensive momentum stocks to cheaper areas, recommending US small caps and European equities.
  • Bilton views UK gilts as poised to rally if political uncertainty fades under the new UK prime minister.
  • SpaceX scrubbed launch viewed as a small setback; successful launch seen as a positive catalyst for the stock.
  • Adidas dominates World Cup marketing with final featuring two Adidas-sponsored teams, seen as a clear success story.
  • Germany signals openness to Unicredit takeover of Commerzbank, increasing likelihood of a deal.
  • China denies Trump’s election meddling claims, and the UK Labour leadership change raises questions about fiscal and monetary policy implications.
Ideas
Bloomberg Tech Roundtable Guest Bloomberg Guest 0:50
SpaceX shares rally on imminent launch success
SpaceX's Starship launch scrub is a small setback; the rocket will likely launch in a few days. A successful launch will be a positive catalyst for the shares because it demonstrates progress toward orbital data center plans and revenue growth.
SPCX LOW
John Bolton Former US National Security Advisor / Ambassador 7:05
US small caps benefit from rotation into value
US small-cap stocks have accelerated, earnings forecasts look good, and valuations are getting cheaper as momentum names sell off. The rotation away from expensive tech momentum into cheaper areas means small caps should continue to perform well.
US Small Caps MED
John Bolton Former US National Security Advisor / Ambassador 7:45
European equities are cheap and diversifying
Europe is cheap, has cheapened meaningfully, and serves as a diversification destination for investors broadening their tech exposure. European industry champions will benefit as enterprise software adapts to AI reality.
VGK MED
John Bolton Former US National Security Advisor / Ambassador 21:29
UK gilts rally as political risk fades
UK political uncertainty has been priced into gilts with yields near 5%. If the new prime minister removes that uncertainty premium, gilts could have a reasonable repricing rally.
UKGILT MED
Chad Thomas Bloomberg Europe Executive Editor 37:23
Commerzbank takeover by Unicredit now more likely
Germany is preparing to discuss a Unicredit takeover of Commerzbank after the German chancellor signaled no opposition. The realization that blocking the takeover is difficult makes a deal more likely, which is positive for the target's shares.
CBK.DE UCG.MI MED
Tim Loh Bloomberg Reporter 45:49
Adidas is the World Cup sponsorship winner
Adidas has clearly won the World Cup from a marketing perspective with a well-prepared campaign and the final featuring two Adidas-sponsored teams (Spain and Argentina) and star players. Adidas cannot go wrong no matter who wins the final.
ADDYY HIGH
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This Bloomberg Markets video, published July 17, 2026, features Bloomberg Tech Roundtable Guest, John Bolton, Chad Thomas, Tim Loh discussing SPCX, US Small Caps, VGK, UKGILT, CBK.DE, UCG.MI, ADDYY. 6 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Bloomberg Tech Roundtable Guest, John Bolton, Chad Thomas, Tim Loh  · Tickers: SPCX, US Small Caps, VGK, UKGILT, CBK.DE, UCG.MI, ADDYY