"Bull Market Could Last Through 2030:" Bartels | Open Interest 8/3/2026

Watch on YouTube ↗ | August 03, 2026 at 17:41 | 1:29:50 | Bloomberg Markets

Speakers

Sam Fazeli — Senior Pharmaceutical Analyst, Bloomberg Intelligence

Stuart Kaiser — Head of US Equity Trading Strategy, Citi

Mandeep Singh — Senior Analyst, Bloomberg Intelligence

Mary Ann Bartels — Chief Investment Strategist, Sanctuary Wealth

Suki Cooper — Global Head of Commodities Research, Standard Chartered

Mark Penn — Chairman & CEO, Stagwell

Cameron Crise — Macro Strategist, Bloomberg News

Michael McKee — International Economics & Policy Correspondent, Bloomberg

Christian Stracke — Global Head of Product, VanEck

Summary

The episode covers a failed AstraZeneca-Bristol-Myers merger talk, de-escalation with Iran sending oil lower, a rare US-Japan joint yen intervention, and speculation about fewer Fed meetings. Bullish calls dominate: Stuart Kaiser favors AI capex beneficiaries and the Mag7, Mary Ann Bartels predicts a secular bull market to 2030 led by tech and sees a new cycle in international equities, and Suki Cooper targets $5,000 gold. Stagwell’s CEO touts AI-driven growth, while Palantir is flagged as facing headwinds.

AstraZeneca-Bristol merger widely panned as value-destroying for Astra
Oil slides on Trump-Iran peace talks restart
US and Japan conduct first joint yen intervention in 15 years
Speculation of fewer FOMC meetings under potential Warsh Fed
Citi strategist bullish on AI infrastructure beneficiaries and Mag7
Mary Ann Bartels calls for US secular bull market through 2030 and a new international equity cycle
Standard Chartered sees gold reaching $5,000 on structural demand
Palantir faces rising competition making expectations hard to beat

Ideas

Sam Fazeli Senior Pharmaceutical Analyst, Bloomberg Intelligence 1:09

Merger destroys Astra value; avoid.

A merger between AstraZeneca and Bristol-Myers would destroy value for AstraZeneca shareholders. The deal lacks strategic logic, would dilute earnings growth and create uncertainty, and Astra does not need it. The market is punishing Astra shares accordingly.

Stuart Kaiser Head of US Equity Trading Strategy, Citi 20:49

Buy AI bottlenecks: semis, power.

Massive AI capex spending by hyperscalers will continue to flow into bottlenecks such as semiconductors and power generation. After the recent pullback, risk-reward has improved and investors should reengage in these beneficiaries.

Stuart Kaiser Head of US Equity Trading Strategy, Citi 27:24

Mag7 safe, will keep spending.

The Magnificent Seven hyperscalers are not going away. They have strong balance sheets, can absorb bad investments, and will keep spending aggressively. They are far safer than tier-two borrowers where the real stress lies.

Mandeep Singh Senior Analyst, Bloomberg Intelligence 37:47

Palantir faces competition, hard to beat.

Palantir faces intensifying competition from large language model companies and sovereign concerns (e.g., France replacing them). Expectations are high and will be hard to beat, suggesting downside risk for the stock.

Mary Ann Bartels Chief Investment Strategist, Sanctuary Wealth 51:26

US bull market to 2030, tech leads.

The secular bull market in U.S. equities will last until 2029-2030, led by technology and semiconductors. Earnings are extremely strong, and the recent deleveraging has created a solid base for further gains.

Mary Ann Bartels Chief Investment Strategist, Sanctuary Wealth 52:41

International equities enter new cycle.

International markets, especially Europe, Japan, and Asia ex-China, have entered a brand-new secular cycle. Positive earnings revisions in Europe, defense spending, and Japan's export strength with a weaker yen support this structural shift.

Mark Penn Chairman & CEO, Stagwell 68:43

Stagwell wins clients with AI.

Stagwell is leveraging AI to drive growth, winning major clients like IBM away from incumbents, raising its earnings outlook, and positioning as the modern challenger agency, supporting a positive outlook for the stock.

Suki Cooper Global Head of Commodities Research, Standard Chartered 85:06

Gold to $5,000 on structural demand.

Gold is on a path to $5,000 as structural drivers (central bank buying, investor appetite) remain intact. Rate hike fears are already priced in, and once positioning unwinds, gold will rebuild gains steadily.

Suki Cooper Global Head of Commodities Research, Standard Chartered 88:31

Silver, platinum, copper to gain.

Silver, platinum, and copper are beneficiaries of strong demand growth. Silver and platinum gain across precious metals, while copper plays out in the AI and electrification theme, making them attractive.

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This Bloomberg Markets video, published August 03, 2026, features Sam Fazeli, Stuart Kaiser, Mandeep Singh, Mary Ann Bartels, Mark Penn, Suki Cooper discussing AZN, SMH, XLU, MAG7, PLTR, SPY, EWJ, Asia ex-China, VGK, STGW, GLD, SILVER, PPLT, COPPER. 9 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Sam Fazeli, Stuart Kaiser, Mandeep Singh, Mary Ann Bartels, Mark Penn, Suki Cooper · Tickers: AZN, SMH, XLU, MAG7, PLTR, SPY, EWJ, Asia ex-China, VGK, STGW, GLD, SILVER, PPLT, COPPER