Bloomberg Surveillance 5/11/2026

Bloomberg Surveillance covers the equity market's resilience near record highs amid geopolitical tensions, with a focus on AI-driven tech earnings, oil price dynamics from the Strait of Hormuz blockade, and inflation data ahead. Guests discuss semiconductor valuations, safe-haven gold, and the Fed's policy outlook. - Equity markets hold near all-time highs despite U.S.-Iran diplomatic stalemate. - AI and semiconductor earnings continue to drive the rally, with hyperscaler capex expected to reach $850 billion. - Crude oil prices grind higher as the Strait of Hormuz blockade persists, with inventories drawing down. - Gold is seen as a safe haven despite recent liquidation, with potential for central bank buying to resume. - Inflation data (CPI, PPI) and the change in Fed chair to Kevin Warsh are key events this week. - Consumer sentiment is at record lows, but retail sales remain strong, creating a K-shaped economy. - Several strategists raise S&P 500 price targets on strong earnings growth.