Bloomberg Surveillance Bloomberg Surveillance TV: January 8, 2025
Jan 8, 2025
Mike Wilson, Morgan Stanley's Chief US Equity Strategist, dives into equity markets, discussing market choppiness and bullish sentiments for 2025. He highlights the relationship between rising interest rates and stock performance. Mike Lawler, a Republican Representative from New York, shares insights on executing President-elect Trump's policy agenda, focusing on tax reforms and SALT deductions. They emphasize the need for bipartisan efforts in tax policy, while also exploring investment opportunities in the financial and energy sectors.
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Jobs Report and Unemployment
- Andrew Hollenhorst predicts a 120,000 gain in jobs and a 4.4% unemployment rate.
- He emphasizes the importance of the unemployment rate, highlighting the potential market impact of even slight changes.
Labor Market Softness
- Despite strong JOLTS data, Hollenhorst maintains a bearish outlook due to low hiring rates and quit rates.
- He suggests underlying softness in the labor market, emphasizing the noise in current data.
Policy Impacts
- The President-elect's policies, especially on immigration and fiscal stimulus, are crucial for economic forecasts.
- Hollenhorst emphasizes the market's sensitivity to policy changes and their impact on the Federal Reserve's decisions.