Bloomberg Surveillance Bull Run’s Third Year Nears Close
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Jan 3, 2026 Kristina Hooper, Chief Market Strategist at Man Group, discusses why gold remains a safe hedge amid economic uncertainty. Ian Wyatt from Huntington Bank analyzes sticky inflation and uneven consumer growth, stressing the need for investment in equipment over structures. Eric Sterner, CIO at Apollon Wealth, highlights attractive sectors like healthcare and international markets while recommending small-cap investments. Finally, Lisa Sturtevant, Chief Economist at Bright MLS, predicts a transitional year for housing, with regional affordability dynamics shaping opportunities for first-time buyers.
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Volatile Year With Possible Recession
- Kristina Hooper warns 2026 may bring a significant sell-off followed by a modest recession and recovery.
- She expects U.S. stocks could still gain but the path will be volatile and vulnerable.
AI CapEx And Consumer Spending Risk
- Hooper flags two growth risks: weaker consumer spending and a slowdown in AI capex.
- Layoffs tied to AI and constraints on data center builds could amplify the slowdown.
Hold Gold As A Defensive Hedge
- Hooper recommends keeping gold in portfolios as a hedge against deficits and currency questions.
- She notes gold historically outperforms during corrections and can protect during equity sell-offs.