Bloomberg Surveillance Single Best Idea with Tom Keene: Alicia Levine & David Seif
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Sep 16, 2025 Exploring the benefits of trading futures, the conversation highlights the S&P 500 and NASDAQ 100's liquidity advantages. The discussion shifts to market optimism amid Fed expectations, focusing on tech stocks and investment trends. Currency dynamics come into play with the euro's rise against the dollar, raising concerns about national debt. Lastly, the podcast delves into the lasting effects of tariffs from the Trump era and innovative business strategies for overcoming current economic challenges.
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Play To Be In The Market
- Stay invested in the market because growth, margins, and earnings power are concentrated in US tech.
- Alicia Levine warns global managers may be underallocated to US innovation and urges participation.
Tech Valuations Look Compelling
- Tech stocks look cheaper relative to historical levels and show strong free cash flow margins.
- Alicia Levine argues this makes them attractive amid a Fed-driven earnings cycle.
Fed Cuts Could Fuel Earnings Momentum
- Fed rate cuts will amplify an already rising earnings cycle and support equity prices.
- Levine links potential Fed easing to higher S&P earnings estimates and a 'melt up' in banks and markets.