Stocks Bounce Before Nvidia as Bessent Faces Pushback | Open Interest 8/25/2026

Watch on YouTube ↗ | August 25, 2026 at 17:24 | 1:26:11 | Bloomberg Markets

Speakers

Michael Ball — Former NY Fed / Market Commentator

Lindsay Dutch — Bloomberg Intelligence

Bob Doll — Chief Investment Officer, Crossmark Global Investments

Mandeep Singh — Senior Analyst, Bloomberg Intelligence

Marija Veitmane — State Street Global Markets Head of Research

Scott Kirby — CEO, United Airlines

Bailey Lipschultz — Reporter, Bloomberg

Ed Ludlow — Co-Host, Bloomberg Technology

Sridhar Natarajan — Bloomberg Chief Wall Street Correspondent

Matthew McClure — Goldman Sachs global co-head of investment

Summary

The market prepares for Nvidia's highly anticipated earnings report, which serves as a major test for the AI trade and broader tech sentiment. Meanwhile, Treasury Secretary Scott Bessent faces pushback from his former mentor Stan Druckenmiller over the Treasury's bond-buying strategy, raising concerns about inflation and bond vigilantes. The US is also ramping up economic pressure on Iran, threatening secondary sanctions on trading partners.

Tech stocks rebound ahead of Nvidia's critical earnings report.
Stan Druckenmiller criticizes Treasury's bond-buying strategy as a mistake.
US threatens secondary sanctions to isolate Iran economically.
Dick's Sporting Goods plunges after lowering guidance due to Foot Locker struggles.
Small caps face risks from elevated interest rates and high borrowing costs.
United Airlines announces its largest international expansion amid strong demand.

Ideas

Michael Ball Former NY Fed / Market Commentator 2:57

Treasury policy changes are driving debasement trades.

The potential for a new Treasury-Fed accord and changes in Treasury policy are driving the debasement trade, benefiting gold and crypto as digital gold.

Lindsay Dutch Bloomberg Intelligence 15:15

Foot Locker turnaround faces rapid demand pullback.

Dick's Sporting Goods is facing significant challenges turning around Foot Locker, as lifestyle footwear demand pulls back rapidly and consumers become more choosy about $150 sneakers.

Bob Doll Chief Investment Officer, Crossmark Global Investments 18:44

Problematic inflation and deficits will elevate yields.

Treasury yields will likely remain elevated or creep higher because inflation remains problematic and the massive US deficit is awakening bond vigilantes who are demanding higher compensation.

Mandeep Singh Senior Analyst, Bloomberg Intelligence 32:34

SpaceX compute demands will drive Nvidia upside.

Nvidia's near-term upside will be driven by new hyperscaler customers like SpaceX aggressively ramping up compute capacity and using only Nvidia chips.

Mandeep Singh Senior Analyst, Bloomberg Intelligence 36:56

Vertical software is insulated from AI disruption.

Vertical software companies with unique data are better insulated from LLM disruption and can incorporate AI for a lift, unlike horizontal software like coding agents which face disruption risks.

Mandeep Singh Senior Analyst, Bloomberg Intelligence 36:56

Vertical software is insulated from AI disruption.

Vertical software companies with unique data are better insulated from LLM disruption and can incorporate AI for a lift, unlike horizontal software like coding agents which face disruption risks.

Marija Veitmane State Street Global Markets Head of Research 48:36

Investors seek earnings safety in tech stocks.

In a world of rising bond yields and uncertainty, investors are seeking the safe haven of strong earnings growth, leading them to buy Tech stocks and Emerging Markets while avoiding traditional bond proxies like utilities.

Marija Veitmane State Street Global Markets Head of Research 48:36

Investors seek earnings safety in tech stocks.

In a world of rising bond yields and uncertainty, investors are seeking the safe haven of strong earnings growth, leading them to buy Tech stocks and Emerging Markets while avoiding traditional bond proxies like utilities.

Marija Veitmane State Street Global Markets Head of Research 53:05

Fade small caps due to interest-rate sensitivity.

Small caps are a big risk and should be faded because they are highly sensitive to interest rates and are struggling with high interest costs in the current environment of elevated rates.

Scott Kirby CEO, United Airlines 65:08

Strong consumer demand drives international route expansion.

United Airlines is seeing strong consumer demand across all ticket classes without any cracks, and is expanding its international routes significantly to leverage its highly reliable Newark hub.

Bailey Lipschultz Reporter, Bloomberg 82:12

Oura IPO faces hardware and subscription questions.

Oura's potential IPO faces valuation questions regarding whether consumers will continue to buy expensive hardware and pay monthly subscriptions, especially with secondary sales being a big component of the deal.

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This Bloomberg Markets video, published August 25, 2026, features Michael Ball, Lindsay Dutch, Bob Doll, Mandeep Singh, Marija Veitmane, Scott Kirby, Bailey Lipschultz discussing GLD, FL, DKS, TLT, NVDA, Vertical Software, Horizontal Software, UTILITIES, XLK, EEM, IWM, UAL, OURA. 11 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Michael Ball, Lindsay Dutch, Bob Doll, Mandeep Singh, Marija Veitmane, Scott Kirby, Bailey Lipschultz · Tickers: GLD, FL, DKS, TLT, NVDA, Vertical Software, Horizontal Software, UTILITIES, XLK, EEM, IWM, UAL, OURA