Bloomberg Surveillance

Bloomberg Surveillance TV: July 1, 2024

Jul 1, 2024

Financial experts Cameron Dawson, David Kelly, and Michael Darda discuss US GDP slowing down, the likelihood of a Republican sweep post-presidential debate, and the potential impact of a rising unemployment rate on the Fed. They also delve into economic forecasts, market risks, political decisions, investment trends in tech, and the influence of AI on the stock market.

21:40

Creator website

Episode guests

Michael Darda

David Kelly

Cameron Dawson

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Episode notes

Podcast summary created with Snipd AI

Quick takeaways

Slowing US GDP indicates a cooling economy, not a sharp decline.

Potential Republican sweep in November could impact market dynamics and policies.

Deep dives

Economic Trends and Market Forecasts

The podcast discusses the current economic trends and market forecasts for the second half of the year. Cameron Dawson from New Edge Wealth emphasizes the importance of understanding the shifts in GDP estimates and warns about potential risks from growth forecasts for EPS or GDP being trimmed. There is a focus on the need to monitor the moderate growth and the impact on the labor market, suggesting a potential rate cut by the Fed based on economic data and GDP moderation over time.

Intro

2min

Economic Forecasts and Market Risks

5min

Political Decisions and Economic Impacts

4min

Economic Impact of Potential Policy Changes and Election Results

5min

Investment Trends in Big Tech Amidst Economic Uncertainty

2min

Forward-Looking Central Banking and Economic Indicators

5min

Analyzing the Impact of AI on the Stock Market and Investment Strategy

3min

-Cameron Dawson, NewEdge Wealth Chief Investment Officer
-David Kelly, JPMorgan Chief Global Strategist
-Michael Darda, Roth MKM Chief Economist & Macro Strategist

Cameron Dawson of NewEdge Wealth says the slowing in US GDP indicates the US is 'coming off the boil' but not yet falling off a cliff. David Kelly of JPMorgan says last week's presidential debate 'meaningfully increases the likelihood of a Republican sweep in November.' Michael Darda of Roth MKM looks ahead to a busy week of economic data headlined by Friday's payrolls report, saying an uptick in the unemployment rate should set off alarm bells at the Fed.

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