US Manufacturing Activity Contracted in May for a Third Month

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Bloomberg Intelligence hosted by Paul Sweeney and Alix Steel

Today’s Podcast Features are:

Susan Spence, Chair of ISM Manufacturing PMI at Institute for Supply Management, discusses ISM Manufacturing data. US factory activity contracted in May for a third consecutive month and a gauge of imports fell to a 16-year low as firms pulled back in the face of higher tariffs.

Sam Fazeli, Bloomberg Intelligence, Director of Research for Global Industries and Senior Pharmaceuticals, discusses the latest Biotech news. Sanofi agrees to buy Blueprint Medicines Corp. for at least $9.1 billion to expand in rare immunological diseases. Bristol-Myers Squibb Co. will pay BioNTech SE as much as $11.1 billion to license a next-generation cancer drug. Moderna won FDA approval for its second-generation Covid vaccine for all adults over 65 and anyone over 12 who has at least one risk factor for severe disease.

Shana Sissel, President and CEO at Banríon Capital Management, joins to discuss her outlook on the markets. Wall Street investors are parsing economic data, tariff, and geopolitical developments, causing stocks to waver and the dollar to head towards its lowest since 2023.

Michl Binderbauer, CEO of TAE Technologies, discusses the company's latest funding round. TAE Technologies (“TAE”), the leading fusion energy company developing the cleanest and safest approach to commercial fusion power. Today it announced that it has raised more than $150 million in its latest funding round, exceeding the company’s initial target for the round.

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