Ed Yardeni, President at Yardeni Research, shares his insights on the US equity rally, connecting it to trade war dynamics and his updated S&P target. He discusses the market's reaction to President Trump’s tariff announcements, noting traders' optimism in the face of potential negotiations. Kelsey Berro, Executive Director at JPMorgan Asset Management, highlights bond market concerns regarding the US fiscal landscape while emphasizing a resilient economy and record-high S&P 500 performance amidst tariff tensions.
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insights INSIGHT
Market Sees Tariffs as Negotiations
The market sees Trump's tariff threats as negotiation tactics rather than final actions.
This is backed by steady stock performance and traders betting on moderate tariffs.
insights INSIGHT
US Dollar Rebound Expected
The US dollar will likely rebound despite widespread bearish sentiment.
The US economy's resilience and limited positive alternatives abroad support dollar strength.
volunteer_activism ADVICE
Fed Should Avoid Rate Cuts
The Federal Reserve should avoid lowering interest rates hastily.
With low unemployment and moderate inflation, there's no reason to disrupt economic success.
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Watch Tom and Paul LIVE every day on YouTube: http://bit.ly/3vTiACF. Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyJuly 8th, 2025 Featuring: 1) Ed Yardeni, President at Yardeni Research, joins for an extended discussion about the US equity rally and his updated S&P target amid tariff concerns. Tuesday’s steadiness in stocks reflects traders’ belief in a familiar pattern of US President Donald Trump escalating his trade war only to later de-escalate, betting that any eventual tariffs will be set at a level the global economy can absorb. In the latest round, Trump said he was still open to negotiations and postponed duties of 25% or more on a list for trading partners until at least August 1st. 2) Kelsey Berro, Executive Director: Fixed Income at JPMorgan Asset Management, joins to discuss bond market warnings about the US fiscal situation and offers her market outlook. US stock futures firmed as initial jitters over the Trump administration's latest tariff announcements gave way to optimism that there's ample room for further negotiations. The US economy has held up under the threat of a spiraling global trade war, with hiring healthy and the S&P 500 hitting a record high last week. 3) Ned Lamont, Connecticut Governor (Democrat), offers his reaction to President Trump's tax bill as well as the current state and future of the Democratic party. President Trump secured the passage of his signature tax bill after leveraging his sway over the Republican party to overcome resistance from conservative hardliners and swing-state GOP moderates. Democrats opposed the bill, saying it will strip health care for millions of people who depend on Medicaid to fund tax cuts for the wealthy. 4) Brad Case, Chief Economist at Middleburg Communities, talks about pressures on a frozen housing market, whether the Fed is behind the curve, and the risks of reigniting inflation. The steady flow of tariff threats has fueled uncertainty for markets, central bankers and executives trying to game out the effect on production, inventories, hiring, inflation and consumer demand. 5) Lisa Mateo joins with the latest headlines in newspapers across the US, including a Bloomberg News story on the TSA rolling out new procedures and the Washington Post's piece on Ben's Chili Bowl in Washington DC closing down for repairs.
Bloomberg Surveillance 