Bloomberg Surveillance

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.

Mike Wilson, Chief Investment Officer at Morgan Stanley, discusses stock valuations and posits a rolling recovery ahead. Federal Reserve Governor Stephen Miran shares insights into Fed policy, warning of risks from private credit. Amanda Lynam from BlackRock highlights the tech sector's debt issuance trends and its effects on the credit market. Nancy Lazar, Chief Economist at Piper Sandler, offers alternative data perspectives, noting improvements in the labor market driven by manufacturing-led hiring and onshoring trends.

Bob Michele, CIO at J.P. Morgan Asset Management, discusses the Fed's policy shift and the potential for another rate cut. Henrietta Treyz, co-founder of Veda Partners, analyzes the implications of U.S.-China trade relations on agriculture and forecasts significant farm aid. Pat Haskell, from BlackRock, shares insights on municipal bond performance and valuations, highlighting their attractiveness in the current market. The conversation highlights strategic moves in different investment sectors amidst evolving economic conditions.

Jim Caron, Chief Investment Officer at Morgan Stanley, discusses the disconnect between market valuations and the actual economy, warning of potential fragility due to rising household equity ownership. Gene Munster, Managing Partner at Deepwater Asset Management, highlights Apple's promising iPhone demand and the anticipation for its AI initiatives, while cautioning about its regulatory challenges. Winnie Cisar from CreditSights analyzes Meta's significant bond sale and its implications for AI-driven debt financing, pointing out potential risks for corporate credit. Ed Mills, Washington policy analyst, evaluates recent US-China tech diplomacy and its effects on the semiconductor sector.

Sarah Hunt, Chief Market Strategist at Alpine Saxon Woods, discusses market reactions to tech CapEx and the skepticism around AI investments, emphasizing excessive selloffs. Dan Ives, Global Head of Tech Research at Wedbush, analyzes Apple’s surprising upgrade cycle and predicts growth potential for Amazon's cloud services. Peter Tchir, Head of Macro Strategy at Academy Securities, shares insights on market rotations toward security-focused investments amid global tensions. Lisa Mateo rounds up headlines, including changes to SNAP benefits affecting Halloween.