Oil Drops as Middle East Tensions Ease; Fed Decision, Tech Earnings Ahead | Bloomberg Brief 07/27/26

Watch on YouTube ↗  |  July 27, 2026 at 11:33  |  43:30  |  Bloomberg Markets
Speakers
Jensen Huang — CEO, NVIDIA
Kallum Pickering — Economist, PL Junta
Peter Elstrom — Senior Editor, Bloomberg Technology
Vonnie Quinn — Anchor, Bloomberg
Abeer Abu Omar — Reporter, Bloomberg London

Summary

Oil prices fall as US-Iran strikes pause for a third straight night, boosting stocks and bonds ahead of a pivotal week with the Fed decision and big tech earnings. Nvidia is in talks to provide financial backing for an OpenAI data center, while China's CXMT surges after a record IPO. Jensen Huang predicts a 10x expansion of the semiconductor industry driven by AI agents and calls Korea a golden-age beneficiary. Peel Hunt's Chief Economist Kallum Pickering suggests that continued Middle East calm could pressure US tech and the dollar, favoring non-US equities.

  • Oil drops below $90 as US-Iran pause attacks for the third straight night.
  • Stocks and bonds rally on energy relief ahead of Fed, BOE, BOJ rate decisions.
  • Busiest S&P 500 earnings week: Microsoft, Apple, Amazon, Meta report.
  • Nvidia considering $250B guarantee and $350B chip deal for OpenAI data center.
  • China's CXMT jumps 466% in world's biggest DRAM IPO, challenging Samsung and SK hynix.
  • Jensen Huang: semiconductor industry to grow 10x, Korea in golden age for AI infrastructure.
  • Kallum Pickering: if Middle East calm continues, US tech and dollar may weaken, non-US equities benefit.
  • Shipping through Strait of Hormuz remains disrupted, with volumes far below prewar levels.
Ideas
Jensen Huang CEO, NVIDIA 17:56
Semiconductor industry 10x larger from AI.
The semiconductor industry is going to have to be 10 times larger than it is today over the next decade or so because AI agents and robots will also be using computers, driving enormous long-term demand for chips.
SMH HIGH
Jensen Huang CEO, NVIDIA 18:13
Korea in golden age for AI infrastructure.
Korea is in a golden age because its semiconductor and industrial businesses are booming, and it has the ability to help the world build out AI infrastructure; the country is technologically forward-leaning and a key partner in scaling the global AI supply chain.
EWY HIGH
Kallum Pickering Economist, PL Junta 29:23
Middle East calm pressures US tech, dollar.
If we continue to get good news on the Middle East de-escalation, some of the large US tech companies could come under pressure and the dollar would weaken, as the market shifts focus toward non-US companies and economies that can benefit from technology.
XLK MED
Kallum Pickering Economist, PL Junta 29:23
Middle East calm pressures US tech, dollar.
If we continue to get good news on the Middle East de-escalation, some of the large US tech companies could come under pressure and the dollar would weaken, as the market shifts focus toward non-US companies and economies that can benefit from technology.
USD MED
Kallum Pickering Economist, PL Junta 29:23
Middle East calm pressures US tech, dollar.
If we continue to get good news on the Middle East de-escalation, some of the large US tech companies could come under pressure and the dollar would weaken, as the market shifts focus toward non-US companies and economies that can benefit from technology.
ACWX MED
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This Bloomberg Markets video, published July 27, 2026, features Jensen Huang, Kallum Pickering discussing SMH, EWY, XLK, USD, ACWX. 5 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Jensen Huang, Kallum Pickering  · Tickers: SMH, EWY, XLK, USD, ACWX