David E. Rovella, Bloomberg News Journalist Profile

Articles

This Key Stock Market Indicator Is Flashing Red

5 days ago | bloomberg.com | David E. Rovella

A stock-market indicator has entered a phase historically associated with the worst return prospects for the S&P 500 Index. The Equity Market Regime Model, a Bloomberg Intelligence tool that tracks the benchmark stock gauge and clusters periods into three phases—accelerated growth (green), moderate growth (yellow) and decline (red)—fell into the cautious red zone in March and April.
A New Pope Has Been Elected-and He’s American

6 days ago | bloomberg.com | David E. Rovella

Cardinal Robert Francis Prevost was elected as Roman Catholic pontiff, taking control of a church of 1.4 billion people and overcoming a historical reluctance among his brethren to picking a pope from the United States. It took only two days to reach a consensus among the Church’s 133 electors, many of whom had been appointed by Pope Francis. A member of the Order of St. Augustine, Prevost—now Leo XIV—evoked the saint who is one of the church’s most influential theologians.
Fed Waits to See How Trade War Shakes Out

1 week ago | bloomberg.com | David E. Rovella

Federal Reserve Chair Jerome Powell said he’s not in a hurry to adjust interest rates in a world where tariffs could lead to higher inflation and unemployment. Unsurprisingly, the US central bank voted unanimously Wednesday to keep the benchmark federal funds rate in a range of 4.25% to 4.5%, where it’s been since December. President Donald Trump‘s trade policy has unleashed a wave of uncertainty across the economy.
Mark Carney Comes to Washington and Makes Canadian Sovereignty Plain

1 week ago | bloomberg.com | David E. Rovella

Prime Minister Mark Carney did what he came to do in Washington on Tuesday—he reminded his counterpart to the south that Canada is a sovereign nation. But Donald Trump’s musings about taking over Canada (or Greenland, the Panama Canal and the Gaza Strip) weren’t the big takeaway of their Oval Office meeting. Instead it was the US president’s global trade war and the deals that haven’t happened yet.
Wall Street Gets Some Good News to End the Week

1 week ago | bloomberg.com | David E. Rovella

Relief arrived from a few directions Friday, encouraging investors to keep buying the dip and driving indexes up amid the chaos and uncertainty of a global trade war. One part came from the Bureau of Labor Statistics. A unit of the US Department of Labor, it reported that hiring remained robust despite Donald Trump’s rollout of “reciprocal tariffs.” The president’s now-famous tariff chart reveal kneecapped stocks worldwide and managed to destabilize a few pillars of the US economy.
What Musk’s 100 Days Mean for America

1 week ago | bloomberg.com | David E. Rovella

(Bloomberg) -- The public persona of Elon Musk has shifted dramatically over the past few years. Once the hero of progressive Americans who saw him and Tesla as a driving force behind the green transition, he’s now reviled by many of those same people who instead see him as a far-right oligarch and hatchet man for President Donald Trump.
US Economy Contracts for the First Time Since 2022

2 weeks ago | bloomberg.com | David E. Rovella

The US famously bounced back from a pandemic recession that struck like a hammer blow in 2020. Fueled by a massive government rescue effort that pumped tremendous amounts of money into the economy, the nation was soon outpacing rivals in a return to growth. The country that saw more than a million people killed by Covid-19 not only avoided a depression, but eventually reached a level of employment so high it matched a half century-old record from when Richard Nixon was president. But that was then.
US Consumer Sentiment Plummets on Trump Trade War

2 weeks ago | bloomberg.com | David E. Rovella

As US President Donald Trump departed for Italy to attend the funeral of Pope Francis, the news at home for his administration was not good as the week came to an end. On the economic front, there is record fear among his constituents. US consumer sentiment fell to one of the lowest readings on record and long-term inflation expectations climbed to the highest since 1991 on worries over the domestic consequences from his tariffs.
The Deep Space Economy Begins on the Moon

2 weeks ago | bloomberg.com | David E. Rovella

(Bloomberg) -- More than 50 years after humans last stepped foot on the moon, governments and entrepreneurs are racing to commercialize Earth’s closest neighbor. The moon itself holds the promise of vast new resources for humanity to tap. But perhaps more importantly, it can be used as a base from which humans can travel to Mars and the rest of the solar system.
Stocks Rebound as Trump Tones Down Trade Rhetoric

3 weeks ago | bloomberg.com | David E. Rovella

Amid mixed messages from the Trump administration on the direction of its trade war, markets notched a second day of gains as investors appeared to be betting Donald Trump is looking for a way to back down a bit, given the damage done to equities, bonds and global confidence in the US economy. Since raising tariffs on China to triple digits, Trump has repeatedly called on Beijing to negotiate while President Xi Jinping has, at least publicly, declined the invitations.