US and Iran Exchange Strikes, Trump Begins Rebuilding Tariff Wall | The Opening Trade 6/3/2026

Watch on YouTube ↗  |  June 03, 2026 at 09:31  |  1:35:53  |  Bloomberg Markets
Speakers
Richard Windsor — Founder, Radio Free Mobile
Nataliia Lipikhina — Head of Equity Strategy, JPMorgan Private Bank
Mark Cranfield — Cross Asset Strategist, Bloomberg

Summary

The video covers renewed US-Iran military tensions and oil price gains, the US proposal of new tariffs on 60 trading partners, and a strong AI-driven equity rally with record highs. Key guests discuss the AI semiconductor super-cycle, IPO pipeline (SpaceX), and portfolio strategy favoring US equities while watching Europe as a potential hedge.

  • US and Iran exchange strikes, ceasefire under strain, oil prices rise.
  • Trump proposes new 10% tariffs under Section 301 to rebuild tariff wall.
  • S&P 500 hits new record, AI enthusiasm drives semiconductor index up 94% YTD.
  • Richard Windsor (Radio Free Mobile) identifies MediaTek as winner, Intel as loser from Computex.
  • Nataliia Lipikhina (JPMorgan) bullish on US equities with 20% earnings growth expected.
  • Mark Cranfield (Bloomberg) warns Bitcoin has bearish technical setup.
  • SpaceX plans record-breaking IPO at up to $1.8 trillion valuation.
  • Europe watches for Middle East uncertainty clearance as potential catch-up trade.
Trade Ideas
Richard Windsor Founder, Radio Free Mobile 19:35
Semiconductor sector is a winner.
The semiconductor sector is a clear winner from the AI and Computex momentum, with nothing getting in the way of the chip train.
SMH MED
Richard Windsor Founder, Radio Free Mobile 19:50
MediaTek benefits from edge AI.
MediaTek is a winner because its strengths align with running AI efficiently on edge devices, as highlighted by Computex.
2454.TW MED
Richard Windsor Founder, Radio Free Mobile 20:20
Intel is a clear loser.
Intel is a loser because competitors' products outperform on performance per watt and Intel's response is unconvincing.
INTC HIGH
Nataliia Lipikhina Head of Equity Strategy, JPMorgan Private Bank 52:14
US equities in earnings super cycle.
US equities are in an earnings super cycle driven by strong AI demand, with 20% earnings growth expected in 2026, supporting the S&P 500 target lift.
SPY HIGH
Nataliia Lipikhina Head of Equity Strategy, JPMorgan Private Bank 54:48
Europe could rebound conditionally.
European equities have underperformed and could rebound if Middle East uncertainty fades, but the timing is uncertain.
VGK MED
Mark Cranfield Cross Asset Strategist, Bloomberg 92:46
Bitcoin is bearish technically.
Bitcoin is unattractive due to competition from gold and AI equity gains, and has a bearish technical head and shoulders pattern.
BTC MED
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This Bloomberg Markets video, published June 03, 2026, features Richard Windsor, Nataliia Lipikhina, Mark Cranfield discussing SMH, 2454.TW, INTC, SPY, VGK, BTC. 6 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Richard Windsor, Nataliia Lipikhina, Mark Cranfield  · Tickers: SMH, 2454.TW, INTC, SPY, VGK, BTC