Bloomberg Surveillance 5/19/2026
Спикеры
Jeff Currie
— Директор по стратегии (энергетические пути), Carlyle Group
Stephen Auth
— Директор по инвестициям, Auth Capital
Jay Goldberg
— Генеральный директор, Seaport Global
The episode covers market reactions to geopolitical tensions in the Gulf, a pause in tech stocks, and a bullish view on energy and equities. Jeff Currie argues for a commodity supercycle and recommends oil companies for their high free cash flow yields. Steven Auth remains bullish on the S&P 500 citing strong earnings and AI-driven productivity. Jay Goldberg advises avoiding NVIDIA ahead of earnings due to supply constraints and high expectations.
- Jeff Currie advocates for energy stocks as the biggest asymmetric trade.
- Steven Auth sets S&P 500 target of 9000 by 2027.
- Jay Goldberg is cautious on NVIDIA, maintaining sell rating.
- The bond market sees yields rising amid inflation and fiscal concerns.
- Geopolitical risks in the Gulf continue to affect oil markets.
- Consumer spending remains resilient despite high gas prices.
- Central banks signal potential rate hikes.
- AI investment theme moves from hype to execution.
Идеи
Oil companies have huge asymmetric upside.
Oil companies are deeply undervalued relative to hyperscalers, with 15.5% free cash flow yield vs 0%, representing the biggest asymmetric trade in modern finance. The commodity supercycle is in early innings, supply constraints are severe, and the back end of the oil curve is mispriced. This will drive massive upside for energy stocks as the physical shortages materialize.
S&P 500 target 9000 by 2027.
Stocks are an inflation hedge and earnings growth remains strong, driven by AI-driven productivity gains and margin expansion. The S&P 500 is set to reach 9000 by end of 2027 and 8004 by end of 2026, supported by broad-based earnings growth across sectors, not just AI.
NVIDIA constrained by supply and expectations.
NVIDIA is constrained by supply limitations and high expectations, making it difficult to beat estimates. The stock has underperformed the semiconductor sector this year and will likely continue to do so. The sell rating reflects limited upside despite a good earnings report.
Далее
This Bloomberg Markets video, published May 19, 2026, features Jeff Currie, Stephen Auth, Jay Goldberg discussing XLE, SPY, NVDA. 3 trade ideas extracted by AI with direction and confidence scoring.
Speakers: Jeff Currie, Stephen Auth, Jay Goldberg · Tickers: XLE, SPY, NVDA