SpaceX Looks to Wall Street to Validate Extreme Market Valuation

Watch Paul and Scarlet LIVE every day on YouTube: http://bit.ly/3vTiACF.  Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu  George Ferguson, Senior Aerospace Analyst for Bloomberg Intelligence, discusses the revenue growth outlook for SpaceX. Investors have been largely flying blind since the company’s record-breaking IPO last month, with few financial projections to help determine what the stock is actually worth. That changes next week, when the quiet period ends for analysts at banks that underwrote the $86 billion initial public offering, which was led by Goldman Sachs Group Inc. Morgan Stanley, Bank of America Corp., Citigroup and JPMorgan Chase & Co., with 18 other banks participating. Starting Tuesday, investors should expect a pile of new research, price targets and growth estimates, all of which should help shed light on where the shares are likely headed in the near term and over the next few years.  Michael Shepard, Bloomberg News Senior Technology Editor, joins for a chat on the latest tech headlines, including the Financial Times reporting that OpenAI has proposed giving the US government a 5% stake in the company, and Apple seeking the Trump administration’s approval to purchase chips from two Chinese semiconductor makers on a Pentagon blacklist amid a global memory shortage.  Ira Jersey, Bloomberg Intelligence Chief US Interest Rate Strategist, reacts to the June US jobs report. Hiring slowed sharply in June even as the unemployment rate fell, curbing some of the budding momentum in job growth this year. Nonfarm payrolls increased 57,000 last month after downward revisions to the prior two months took some of the shine off recent blockbuster reports, Bureau of Labor Statistics data Thursday showed. The unemployment rate fell to 4.2% as labor force participation plunged, leading investors to scale back bets on Federal Reserve interest-rate increases.  Brendan Murray, Bloomberg News Global Trade Editor, shares his thoughts on Washington’s decision not to renew its trade deal with Canada and Mexico - choosing instead to conduct annual reviews of the pact in a decision that risks adding uncertainty for companies producing goods across North America. The US-Mexico-Canada Agreement, or USMCA, will remain in force for another decade provided no one country decides to exit. Opting against a longer-term renewal opens the door to years of contentious negotiations over the rules governing continent-wide supply chains and low tariff levels vital for automakers, farmers, retailers and energy companies. See omnystudio.com/listener for privacy information.