Bloomberg Surveillance Bloomberg Surveillance TV: July 1st, 2025
6 snips
Jul 1, 2025 
Julian Emanuel, Chief Equity & Quantitative Strategist at Evercore ISI, analyzes the sustainability of the equity rally and shares his S&P 500 targets. He dives into the market dynamics amid tariff uncertainties. On the other hand, Blerina Uruci, Chief US Economist at T. Rowe Price, provides her outlook on the US economy, discussing recent data and the implications for inflation and interest rates. Their insights reveal the intricate links between market trends, economic indicators, and future expectations.
AI Snips
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Transcript
Episode notes
AI Drives Market Rally
- The equity rally is driven largely by corporate America's use of AI for cost savings and revenue growth.
- This technological adoption supports higher market multiples despite tariff-related risks.
Stable Yields Support Equities
- Despite stable yields over two years, this duration suits equity markets by removing uncertainty.
- A new Fed chairman next year may bring more accommodative policies, potentially lowering interest rates.
Track Key Senators Closely
- Senators like Murkowski and Collins are pivotal for tax bill passage; watch their concerns carefully.
- Distributional impacts matter, especially for Medicaid and health care funding in key states.