Bloomberg Surveillance Markets Get Nvidia Boost Ahead of Anticipated Fed Cut
13 snips
Oct 29, 2025 
Julian Emanuel, Chief Equity & Quantitative Strategist at Evercore ISI, shares insights on AI-driven earnings momentum fueling market optimism. Thomas Simons, Chief U.S. Economist at Jefferies, predicts a balanced labor market ahead of a key Fed decision, scrutinizing its implications on inflation. John Mowry, Chief Investment Officer at NFJ Investment Group, discusses the potential end of quantitative tightening and its effects on regional banks and international value opportunities, all while considering China's economic dynamics.
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Broader-Than-Expected Earnings Surge
- Earnings are broadly beating expectations, driven by tech, energy, and financials, supporting double-digit earnings growth.
- Julian Emanuel sees an AI-driven bull market continuing but warns event risks could cause temporary pullbacks.
Position For An Imminent Rate Cut
- Expect the Fed to cut 25 basis points and signal data-dependent moves for December rather than firm promises.
- Investors should view the burden of proof as resting on hotter-than-expected inflation or jobs data to prevent another cut.
AI Could Ease Labor Shortages
- Labor market slack is hard to measure because immigration and migration materially change payroll break-evens.
- AI may shorten training payback periods and help fill chronic shortages in professions like healthcare and education.