Bloomberg Surveillance

Bloomberg Surveillance TV: May 30, 2024

May 30, 2024

Citi and UBS experts discuss US jobless claims impact on Fed's interest rates, while BofA analyst explains tech hardware success with AI. Baker Hughes CEO explores US leading oil production trend and energy sector's future.

33:31

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Quick takeaways

Experts debate the need for Fed to reconsider interest rate target based on US jobless claims.

Tech hardware companies, like Dell, are expected to thrive in AI era according to BofA analyst.

Deep dives

Economic Indicators Point to Robust Labor Market

The current US market is anticipated to see a slight decrease in payrolls, with indicators suggesting a stable labor market and strong job growth. Although concerns about a slowdown persist, indicators like surveys of small businesses and PMI reports show minor softness. A notable slowdown is predicted, with uncertainties such as weather affecting April payrolls possibly leading to a rebound in May.

Introduction

3min

Labor Market Indicators and Rate Cut Speculations

12min

Exploring the Hardware Renaissance and AI Services in the Market

3min

Navigating the PC Refresh Cycle and AI Evolution

6min

Exploring the Significance of Context in AI Phone Conversations

2min

Exploring the Future of Energy Production

10min

Exploring Markets, Economics, and Geopolitics with The Hartford and Bloomberg Green Festival

2min

-Robert Sockin, Citi Research Senior Global Economist
-Michael Cloherty, UBS Head of US Rates Strategy-Wamsi Mohan, BofA Securities Senior IT Hardware Analyst
-Lorenzo Simonelli, Baker Hughes CEO

Robert Sockin of Citi and Michael Cloherty of UBS react to US weekly jobless claims that exceeded estimates and discuss whether the Fed should reconsider its short-term interest rate target. Wamsi Mohan of BofA Securities explains why he raised his price target for Dell and how tech hardware companies are poised for success in the age of AI. Baker Hughes CEO Lorenzo Simonelli discusses what's next for the energy sector as new data from the EIA shows the US leading global oil production for the sixth straight year.

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