Bloomberg Surveillance 5/8/2026

Watch on YouTube ↗  |  May 08, 2026 at 14:31  |  2:24:19  |  Bloomberg Markets
Speakers

Summary

Bloomberg Surveillance covers the April payrolls report, Middle East tensions, oil market dynamics, and AI-driven market optimism. Guests provide views on crude oil, semiconductors, CoreWeave, S&P 500, and Treasury bonds. The jobs report showed 115k payrolls, ahead of estimates, with steady unemployment and softer wage growth.

  • April nonfarm payrolls came in at 115,000, above the 65,000 median estimate, with unemployment steady at 4.3%.
  • Oil prices remain subdued despite inventory draws and skirmishes in the Strait of Hormuz; Ellen Wald expects a significant spike.
  • Chris Verrone warns semiconductors are parabolic and vulnerable to a violent correction.
  • Sarah Kunst advises locking in gains on CoreWeave, calling it fragile and likely to fall first in a tech correction.
  • Nadia Lovell is constructive on U.S. equities with a 7500 S&P 500 target, citing strong AI capex and earnings.
  • Michael Collins sees value in long-dated Treasury bonds, adding duration at current yield levels.
  • The Fed remains in a stalemate with dissension, as the jobs report does not change the rate outlook.
  • The White House awaits Iran's response to a peace proposal while maintaining a fragile ceasefire.
Trade Ideas
Chris Verrone Head of Macro, Piper Sandler 4:28
Semiconductor parabolic moves correct violently.
The semiconductor sector has seen parabolic price action, up 150% in 12 months, which historically corrects violently rather than quietly. While the timing is uncertain, the risk of a sharp correction is elevated, justifying caution.
SMH MED
Ellen Wald Senior Fellow, Atlantic Council (Energy Expert) 33:58
Crude inventory drawdown not priced in.
Oil inventories have been drawn down at an accelerated rate due to the conflict, but paper prices have not reflected this physical tightness. Once the market reprices, crude should spike higher. The disconnect between paper and physical is unsustainable.
BNO HIGH
Sarah Kunst Cleo Capital Founder 79:30
CoreWeave fragile, lock in gains.
CoreWeave has weak underlying financials and has benefited from luck rather than sustainable business strength. It will be an early domino to fall in a tech correction. Investors should lock in gains and exit.
CRWV HIGH
Nadia Lovell UBS Global Wealth Management 100:59
U.S. equities constructive, AI tailwind.
U.S. equities are supported by very strong earnings, especially from AI-driven demand, and the market is pricing in a stronger micro vs. macro backdrop. The year-end S&P 500 target is 7500 with a bull case of 8400, though the path is bumpy.
SPY MED
Mike Collins Portfolio Manager 116:53
Treasury yields attractive, adding duration.
Treasury bonds, especially at the long end, are cheap and attractive. The 10-year near 4.5% and the long bond at 5% offer embedded value from steep curves and roll-down. Adding duration globally is warranted as yields are high.
IEF HIGH
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This Bloomberg Markets video, published May 08, 2026, features Chris Verrone, Ellen Wald, Sarah Kunst, Nadia Lovell, Mike Collins discussing SMH, BNO, CRWV, SPY, IEF. 5 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Chris Verrone, Ellen Wald, Sarah Kunst, Nadia Lovell, Mike Collins  · Tickers: SMH, BNO, CRWV, SPY, IEF