Bloomberg Surveillance 8/10/2026

Смотреть на YouTube ↗  |  10 августа 2026, 14:50  |  2:24:16  |  Bloomberg Markets
Спикеры
Aaron Kennon — Директор по инвестициям, Clear Harbor Asset Management
Sarah Kunst — Основатель, Cleo Capital
Jim Caron — Директор по инвестициям, управление портфелем, Morgan Stanley Investment Management
Eric Johnston — Стратег, Cantor Fitzgerald
Mig Dobre — Crypto Journalist, Mig Dobre
Yie-Hsin Hung — President and CEO, State Street Investment Management
Henrietta Treyz — Политический аналитик, Veda Partners
The episode covers the broadening AI investment theme from chips to software, geopolitical tensions with Iran, key CPI data ahead of the Fed's September decision, and massive AI infrastructure financing. Speakers offer bullish views on software, tech, and semiconductors, while flagging risks in memory margins and data center politics. Specific calls include long Alphabet, United Rentals, and momentum factor, and short Caterpillar. - AI earnings growth remains robust, with differentiation emerging between hardware and software beneficiaries. - Memory chip margins may normalize long-term, while cheaper AI models boost software sector margins. - Google seen as ultimate AI winner due to Android ecosystem; SpaceX and CoreWeave deemed overpriced. - U.S. equities supported by strong nominal GDP growth; 60/40 portfolio called ineffective. - Tech and semiconductor sectors, especially memory, are favored; momentum factor positioned for gains after leverage washout. - Caterpillar downgraded on political pushback to data center construction; equipment rental companies like United Rentals benefit. - State Street CIO overweights U.S. and emerging market equities on robust earnings. - Geopolitical tensions with Iran and potential for Fed rate hike remain key risks.
Идеи
Aaron Kennon Директор по инвестициям, Clear Harbor Asset Management 5:24
Cheaper AI expands software margins.
Cheaper large language models may infiltrate software companies and add significant value, leading to margin expansion within the software segment as they leverage AI.
IGV Сред.
Sarah Kunst Основатель, Cleo Capital 32:23
SpaceX overpriced, avoid.
SpaceX is among the names that are really overpriced and make her nervous.
SPCX Низ.
Sarah Kunst Основатель, Cleo Capital 32:26
CoreWeave overpriced, avoid.
CoreWeave is another name that is overpriced and makes her nervous.
CoreWeave Низ.
Sarah Kunst Основатель, Cleo Capital 33:30
Google dominates AI via Android ecosystem.
Google will be the ultimate AI winner due to its massive baked-in user base across Android and enterprise, and will power the vast majority of on-device AI.
GOOGL Выс.
Jim Caron Директор по инвестициям, управление портфелем, Morgan Stanley Investment Management 55:01
Nominal growth supports equities.
Higher nominal GDP growth drives earnings and equity prices higher, and a 25bp rate hike by the Fed would not derail this trajectory.
SPY Выс.
Jim Caron Директор по инвестициям, управление портфелем, Morgan Stanley Investment Management 58:40
60/40 allocation ineffective now.
The 60/40 portfolio is not an attractive allocation because bond returns have been near zero, correlations with equities are high, and passive fixed income hurts performance.
60/40 Portfolio Сред.
Eric Johnston Стратег, Cantor Fitzgerald 101:29
Tech leads equity rally.
Equities can power through seasonal headwinds, led by the tech sector, driven by strong AI infrastructure spend and earnings growth.
XLK Сред.
Eric Johnston Стратег, Cantor Fitzgerald 106:15
Semiconductors led by memory strong.
The semiconductor sector, led by memory, is very bullish due to surging demand from AI infrastructure buildout and strong capex.
SOC Сред.
Eric Johnston Стратег, Cantor Fitzgerald 108:22
Momentum factor has cleaner positioning.
The momentum factor is now cleaner after a significant leverage washout, with strong underlying fundamentals supporting further gains.
MTUM Сред.
Mig Dobre Crypto Journalist, Mig Dobre 113:34
Data center pushback hurts Caterpillar.
Caterpillar faces multiple compression as state and local political pushback on data center construction grows, limiting hyperscaler capex deployment.
CAT Выс.
Mig Dobre Crypto Journalist, Mig Dobre 118:48
United Rentals benefits from data centers.
United Rentals and similar equipment rental companies benefit from ongoing data center construction, with growth supported through 2030.
URI Выс.
Yie-Hsin Hung President and CEO, State Street Investment Management 127:25
Overweight emerging markets.
State Street is secondarily overweight emerging market equities as part of their current allocation.
EEM Низ.
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This Bloomberg Markets video, published August 10, 2026, features Aaron Kennon, Sarah Kunst, Jim Caron, Eric Johnston, Mig Dobre, Yie-Hsin Hung discussing IGV, SPCX, CoreWeave, GOOGL, SPY, 60/40 Portfolio, XLK, SOC, MTUM, CAT, URI, EEM. 12 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Aaron Kennon, Sarah Kunst, Jim Caron, Eric Johnston, Mig Dobre, Yie-Hsin Hung  · Tickers: IGV, SPCX, CoreWeave, GOOGL, SPY, 60/40 Portfolio, XLK, SOC, MTUM, CAT, URI, EEM