Bloomberg Surveillance Bloomberg Surveillance TV: September 2nd, 2025
Sep 2, 2025
Economic analysts share insights on the S&P outlook amid US growth concerns. The discussion highlights China's global economic position, especially related to tariffs. Changes in customs regulations and their impact on logistics for smaller shippers are explored. Consumer confidence trends, especially among younger shoppers adapting to rising living costs, take the spotlight. Lastly, the implications of evolving trade dynamics in Southeast Asia reveal intriguing shifts in international relations.
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Post-Labor Day Market Reality Check
- Phil Orlando sees recent market rally tempered by a September 'dose of reality' as vacations end and key data returns.
- He expects chop into the Sept. 17 Fed meeting while markets parse payrolls, inflation and tariff noise.
Lower Rates Support Small Caps
- Orlando links small-cap and consumer cyclical strength to anticipated lower interest rates from Fed cuts.
- He forecasts multiple cuts into 2026 that create a favorable backdrop for those sectors.
Labor Market Drives Fed Outlook
- Orlando emphasizes the labor market slowdown as the Fed's key focus rather than inflation.
- He expects payroll revisions could cut last year's reported gains by another 500k–600k, reinforcing easing case.