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Bloomberg Daybreak Europe is your essential morning viewing to stay ahead. Live from London, we set the agenda for your day, catching you up with overnight markets news from the US and Asia. On today's show, Indian shares and the rupee rallied after the US reduced tariffs on Indian goods to 18%. President Trump says the US will reduce the tariffs after Indian Prime Minister Narendra Modi agreed to stop buying Russian oil. Bloomberg understands that Elon Musk is merging SpaceX with xAI in an all-stock deal valuing the new company at $1.25 trillion, bringing together two of the largest closely held companies in the world. SpaceX is still planning to do an IPO later this year. Bill and Hillary Clinton agreed to testify in the congressional investigation into Jeffrey Epstein, averting a potential criminal contempt vote. Today's guests: Bank of America UK economist Sonali Punhani & BYD Executive Vice President Stella Li Chapters: 00:00:00 - Daybreak Europe - 2/3/2026 00:02:40 - Asian Stocks Rebound on AI Optimism 00:04:47 - Gold Claws Back Ground After Unwinding of Rally 00:07:04 - SpaceX Combines with xAI at $1.25T Valuation 00:12:18 - France Adopts Budget, PM Survives No-Confidence Votes 00:20:54 - Other Top Stories: Iran Talks / Oil / ICE / Fed Probe / Mandelson 00:25:52 - Front Page News 00:27:01 - Traders Weigh Unwinding of ‘Crowded’ Metals Bets 00:30:31 - Bank of England Rate Decision Due on Thursday 00:34:44 - BYD Is Now World’s Top EV Maker 00:44:17 - Focus on Fed’s Balance Sheet | Chart Talk -------- More on Bloomberg Television and Markets Like this video? Subscribe and turn on notifications so you don't miss any videos from Bloomberg Markets & Finance: https://tinyurl.com/ysu5b8a9 Visit http://www.bloomberg.com for business news & analysis, up-to-the-minute market data, features, profiles and more. Connect with Bloomberg Television on: X: / bloombergtv Facebook: / bloombergtelevision Instagram: / bloombergtv Connect with Bloomberg Business on: X: / business Facebook: / bloombergbusiness Instagram: / bloombergbusiness TikTok: https://www.tiktok.com/@bloombergbusi... Reddit: / bloomberg LinkedIn: / bloomberg-news More from Bloomberg: Bloomberg Radio: / bloombergradio Bloomberg Surveillance: / bsurveillance Bloomberg Politics: / bpolitics Bloomberg Originals: / bbgoriginals Watch more on YouTube: Bloomberg Technology: / @bloombergtechnology Bloomberg Originals: / @business Bloomberg Quicktake: / @bloombergquicktake Bloomberg Espanol: / @bloomberg_espanol Bloomberg Podcasts: / @bloombergpodcasts