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Bloomberg Surveillance
Bloomberg Surveillance TV: July 19, 2024
Jul 19, 2024
Rob Casey, Darrell Cronk, and Katrina Dudley discuss Trump's RNC speech, Biden campaign updates, potential peaks for Trump trade, positive small cap movement, energy sector performance, market leadership, party unity impact, small cap rally sustainability, financial advisor independence, tech support for small businesses, Biden-Harris transition scenarios, and Democratic nomination challenges.
19:09
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Quick takeaways
- Energy sector under Trump presidency performed poorly, whereas excelled under Biden administration due to high demand from AI and defense sectors.
- Recent small caps rally driven by inflation concerns and political scenarios raises sustainability questions amidst uncertainties around US election outcomes.
Deep dives
Energy Sector Performance Under Different Administrations
Under the Trump presidency, the energy sector's performance was among the worst, in contrast to its growth during the Biden administration. Despite common beliefs favoring tech, energy has excelled due to high demand from various sectors like AI and defense, leading to a bullish outlook on energy for the long term.
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