Stuart Kaiser, Head of US Equity Trading Strategy at Citi, discusses the impact of China-US tariffs on stocks and the cautious attitude among investors due to economic uncertainties. Meanwhile, Brian Belski, Chief Investment Strategist at BMO Capital Markets, remains bullish on the S&P, emphasizing the potential for stock gains despite recent market fluctuations. They both analyze the intricate dynamics between trade negotiations and market performance, shedding light on the relationship between stocks and bonds amid ongoing geopolitical tensions.
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insights INSIGHT
Investor Sentiment on Rally Speed
Institutional investors are cautious about the fast rally but accept systematic buying for the short term.
Retail investors buy the dip, while institutions remain more patient and strategic in their trades.
insights INSIGHT
Tech and Growth Lead Market Rally
Growth and tech stocks, especially those linked to AI, have led the current rally.
Banks and power generation sectors are reentering favor as M&A activity is expected to pick up.
insights INSIGHT
Market Drivers Near and Medium Term
Near term, market movement depends heavily on investor positioning and bond yields.
Medium term outlook revolves around corporate earnings and GDP growth influencing market direction.
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Watch Tom and Paul LIVE every day on YouTube: http://bit.ly/3vTiACF. Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyMay 21st, 2025 Featuring: 1) Stuart Kaiser, Head of US Equity Trading Strategy at Citi, discusses how China-US tariff news supports stocks and why we could continue to see shocks this year. Investors are becoming cautious due to the economic outlook and policy uncertainty, with fractious US budget negotiations also a concern. 2) Brian Belski, Chief Investment Strategist at BMO Capital Markets, talks about why he expects more gains for stocks and remains bullish on the S&P. Wall Street was heading for a lower open as momentum from the US stocks rally continues to fizzle out, with S&P 500 futures sliding 0.5% after a recent rally. 3) Stephen Roach, Senior Fellow, Paul Tsai China Center at Yale Law School, on the playbook of US and China in trade negotiations and why a persistent uncertainty shock will likely freeze business decision making. China's Commerce Ministry threatens legal action against anyone enforcing US restrictions on Huawei chips, escalating the tech dispute. Despite the tensions, Chinese officials express their wish to improve relations, 4) Marta Norton, Chief Investment Strategist at Empower, on the defiant US economy and whether a new tax package could be a long-term positive for markets. Traders are betting that long-term Treasury yields will surge due to concerns over the US government's debt and deficits, fueled by President Donald Trump's tax-cut bill. 5) Lisa Mateo joins with the latest headlines in newspapers across the US, including a WSJ story on downtown becoming the new uptown when it comes to real estate for New York's wealthiest, and Washington Post's story on how some of the NFL's top players could be headed to the Olympics.
Bloomberg Surveillance