Bloomberg Surveillance

Troy Gayeski, Chief Market Strategist at Future Standard, shares his insights on market dynamics and AI-related investments. He discusses the tension between hefty AI spending, which benefits companies like NVIDIA, and the sustainability of future cash flows. Gayeski forecasts a near-term market consolidation, expecting fundamentals to regain importance after recent earnings reports. He also adds a personal touch by recounting his struggles with thermodynamics during his early days at MIT, making for an engaging and informative conversation.

- Stephanie Roth, Chief Economist at Wolfe Research- Brian Gardner, Chief Washington Policy Strategist at Stifel- Nadia Lovell, Head of Global Equity Strategy at UBS Global Wealth Management- Priya Misra, Core Plus Bond ETF Portfolio Manager at JPMorgan Asset ManagementStephanie Roth, Chief Economist at Wolfe Research, discusses the state of the US labor market as the ongoing government shutdown continues to delay economic data releases. Brian Gardner, Chief Washington Policy Strategist at Stifel, on what Tuesday's election sweep means for Democrats moving forward. Nadia Lovell, Head of Global Equity Strategy at UBS Global Wealth Management, shares why she views market pullbacks as buying opportunities. Priya Misra, Core Plus Bond ETF Portfolio Manager at JPMorgan Asset Management, gives her outlook for Fed rate policy and the potential impact of the Supreme Court's impending decision on tariffs.See omnystudio.com/listener for privacy information.

Katy Kaminsky, Chief Research Strategist at AlphaSimplex, shares insights on market trends as equities show mixed signals and the dollar strengthens, impacting rate-cut expectations. Ryan Majerus, former Assistant General Counsel at USTR, analyzes the Supreme Court's skepticism on presidential tariff powers and discusses the implications of potential tariff policy changes. Troy Gayeski, Chief Market Strategist at FutureStandard, examines the effects of unprecedented AI spending on market concentration and earnings, suggesting diversification strategies for investors.

Tom Keene dives into the surprising implications of the Bank of England's split vote, exploring its effects on global markets. Holger Schmieding discusses the tensions between high inflation and slowing growth, hinting at a potential new inflation regime across Europe. Brian Belsky then shares insights on market sentiment as the year wraps up, highlighting the challenges of excessive bullishness and the impacts of evolving macro narratives. The conversation wraps up with strategies for navigating uncertainties, including a possible government shutdown.

Cathie Wood, CEO of ARK Invest, defends Elon Musk's $1 trillion pay package, arguing it aligns with Tesla's ambitious goals. Seema Shah, Chief Global Strategist at Principal Asset Management, analyzes the tech sector's earnings amid market skepticism, while highlighting AI's evolving role in investments. Esther George, former Kansas City Fed President, discusses Fed dissents and the complexities of balancing labor and inflation. Jon Lieber, from the Eurasia Group, delves into current U.S. trade policy and the implications of the Supreme Court's tariff authority hearing.

Brian Belsky, CEO and CIO at Humilis Investment Strategies, shares insights on the resilience of the US secular bull market and the potential impact of economic data on yields. Holger Schmieding, Chief Economist at Berenberg, discusses the Eurozone's stability and inflation outlook, highlighting a shift from globalization to regional trade. Shannon O'Neil from the Council on Foreign Relations talks about the complexities of US supply chains and the geopolitical implications of shifting economic policies. Engaging perspectives abound on thriving amidst challenges!

Matthew Hornbach, Global Head of Macro Strategy at Morgan Stanley, shares insights on the market outlook and anticipates a December interest rate cut despite potential government shutdowns. Kathryn Wylde, President & CEO of the Partnership for New York City, analyzes the implications of the recent mayoral election on Wall Street and local business. Nazak Nikakhtar, former Commerce Department official, discusses the Supreme Court's examination of presidential tariff powers under the International Emergency Economic Powers Act. Jim Zelter of Apollo Global Management warns about the risks of high valuations in AI investments.

Cameron Dawson, Chief Investment Officer at NewEdge Wealth, shares insights on high market valuations as we head into 2026, discussing investment opportunities beyond AI. Jennifer Lawless, a Professor at the University of Virginia, analyzes the implications of recent Democratic victories and the effects of the government shutdown on voter sentiment. Danielle DiMartino Booth, CEO of QI Research, explores rising job cuts, inflation influences, and questions surrounding the AI data center boom. Lisa Mateo rounds up top headlines, including college students doubling down on majors to enhance job security.

In this discussion, Torsten Slok, Chief Economist at Apollo Global Management, highlights the rift among Fed policymakers on inflation and rate cuts. Henrietta Treyz, co-founder at Veda Partners, analyzes the potential impact of NYC's mayoral race on national voter sentiment and turnout amid affordability concerns. Meanwhile, Henry Allen from Deutsche Bank examines how current market pullbacks might reflect normal behavior despite underlying strengths. Finally, Whitney Tilson, former hedge fund manager, shares insights on the NYC election's stakes, emphasizing public safety and affordability as key voter issues.

Meera Pandit, a Global Market Strategist at J.P. Morgan, discusses the balancing act of AI optimism against valuation concerns and market volatility. Jennifer Lee, Senior Economist at BMO, analyzes sentiment data and inflation expectations that could shape Fed policy, predicting a December rate cut amidst a government shutdown impact. Former U.S. Representative Patrick McHenry weighs in on Election Day outcomes and anticipates a resolution to the shutdown before Thanksgiving, hinting at broader implications for midterm politics.