Stocks Eye Longest Weekly Run Since 2023 | Open Interest 5/22/2026

Watch on YouTube ↗  |  May 22, 2026 at 17:12  |  1:27:09  |  Bloomberg Markets
Speakers
Steven Zaccone — Citi Retail and Hardlines Analyst
Seema Shah — Chief Global Strategist, Principal Asset Management
Josh Isner — President, Axon
Sarah Hunt — Chief Market Strategist, Alpine Saxon Woods

Summary

The S&P 500 extends its winning streak to eight weeks driven by relentless AI optimism. Consumer sentiment hits a record low, but markets remain focused on AI earnings and ignore inflation concerns. Guests discuss retail consumer trends, China as a diversifier, Axon's AI push, and the upcoming SpaceX IPO. New Fed Chair Kevin Warsh is sworn in amid hawkish commentary from Fed Governor Waller.

  • S&P 500 heads for longest weekly winning streak since 2023.
  • AI demand continues to fuel rally, led by chipmakers like Intel and Micron.
  • University of Michigan consumer sentiment falls to all-time low of 44.8.
  • Citi analyst upgrades Lowe's, bullish on home improvement sector.
  • Seema Shah recommends China as a portfolio diversifier with lower conflict exposure.
  • Axon CEO defends stock selloff, highlights 30%+ growth and AI-driven products.
  • SpaceX IPO could trigger massive passive fund buying, raising index rule concerns.
  • Kevin Warsh sworn in as Fed Chair with hawkish stance, as Waller warns of rate hikes.
Trade Ideas
Steven Zaccone Citi Retail and Hardlines Analyst 35:45
Auto parts sector resilient on vehicle maintenance.
The auto parts sector, including AutoZone and O'Reilly, is a good area for consumer spending exposure because consumers prioritize maintaining existing vehicles over buying new ones. Inflation from tariffs has been passed on, and same-store sales growth remains in the mid-single digits.
ORLY AZO MED
Steven Zaccone Citi Retail and Hardlines Analyst 36:54
Lowe's upgraded, share gains, margin expansion.
Lowe's is upgraded to Buy because higher gas prices hurt discretionary spending but the home improvement space has low earnings risk. Lowe's is gaining share in the small to medium pro opportunity and has a good margin expansion story once same-store sales growth improves.
LOW HIGH
Steven Zaccone Citi Retail and Hardlines Analyst 38:08
Williams-Sonoma cleaner home furnishings play.
Williams-Sonoma is a cleaner way to get exposure to home furnishings. The company is executing at a better level than Restoration Hardware, has strong brands, serves the upper half of the K-shaped economy, and is bucking the weak housing turnover trend.
WSM MED
Seema Shah Chief Global Strategist, Principal Asset Management 50:38
China as diversifier, less conflict exposure.
China is a preferred portfolio diversifier because it has its own ecosystem, is less exposed to the Iran conflict, and has lower correlation to the U.S. market compared to Europe. It offers a way to reduce concentration risk in a market dominated by AI and U.S. tech.
FXI MED
Josh Isner President, Axon 66:11
Axon diversified, strong AI growth, undervalued.
Axon is a strong investment because it has a diversified business beyond tasers, a large and growing software and AI business, 25%+ growth (30%+ last three years), market leadership in public safety AI, and the recent stock decline is a buying opportunity as institutional investors have added positions.
AXON HIGH
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This Bloomberg Markets video, published May 22, 2026, features Steven Zaccone, Seema Shah, Josh Isner discussing ORLY, AZO, LOW, WSM, FXI, AXON. 5 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Steven Zaccone, Seema Shah, Josh Isner  · Tickers: ORLY, AZO, LOW, WSM, FXI, AXON