Markets on Edge Ahead of Tech Test, Fed Decision | Open Interest 7/27/2026

Watch on YouTube ↗  |  July 27, 2026 at 18:00  |  1:27:16  |  Bloomberg Markets
Speakers
Kate Moore — Head of Thematic Strategy, BlackRock
Kelly Covley — Senior Investment Analyst, Manning & Napier
Mandeep Singh — Senior Analyst, Bloomberg Intelligence
Akhil Bansal — Head of Asset-Backed Finance, Carlyle
Celeste Mastin — CEO, H.B. Fuller
Ed Ludlow — Co-Host, Bloomberg Technology
Norah Mulinda — Market Reporter, Bloomberg
Katherine Doherty — Finance Reporter, Bloomberg
Red Browne — Bloomberg Reporter

Summary

The episode previews peak earnings week featuring big tech reports and a critical Fed meeting. Nvidia's $750B AI infrastructure financing raises circular deal concerns while Iran tensions ease, pushing oil lower. Citi's Kate Moore stays overweight U.S. large caps; other guests discuss energy, memory chip risks, natural gas, bonds and single-stock futures.

  • Big tech earnings from Apple, Amazon, Microsoft, Meta, and Alphabet this week
  • Nvidia commits to $750B in AI infrastructure deals, reigniting circular financing worries
  • Fed decision looms with a 30% chance of a rate hike priced in
  • Iran conflict pause sends oil below $91/bbl
  • Citi Wealth favors full allocation to U.S. large-cap equities
  • Manning & Napier sees prolonged energy price pressure and capex risk for memory chips
  • Carlyle highlights natural gas as the next AI power currency
  • CME launches single-stock futures, Kalshi expands perpetuals into metals
Ideas
Kate Moore Head of Thematic Strategy, BlackRock 19:48
Overweight U.S. large caps on earnings
Earnings have driven equities higher this year, not multiple expansion, and fundamentals remain strong. Solid reporting is expected, and worries around geopolitics, inflation, and AI sustainability will fade. Investors should stay fully allocated to equities, overweight U.S. large caps, and add on pullbacks.
SPY HIGH
Kate Moore Head of Thematic Strategy, BlackRock 29:40
Stay short duration, avoid long bonds
Yields are expected to stay elevated, and the long end of the curve could creep toward 5%. Bonds have not provided the historical diversification benefit during shocks. The portfolio is very short duration, and there is very little reason to add duration near term.
SHV MED
Kate Moore Head of Thematic Strategy, BlackRock 29:40
Stay short duration, avoid long bonds
Yields are expected to stay elevated, and the long end of the curve could creep toward 5%. Bonds have not provided the historical diversification benefit during shocks. The portfolio is very short duration, and there is very little reason to add duration near term.
TLT MED
Kate Moore Head of Thematic Strategy, BlackRock 30:21
Avoid corporate credit, favor equities
Credit spreads are extremely tight, trading near 15-year tights, and do not reflect the same concerns that equities have priced. Risk is better taken in equities; prefer equities over corporate credit.
LQD MED
Mandeep Singh Senior Analyst, Bloomberg Intelligence 36:36
Watch memory chipmakers for China disruption
Chinese memory maker CXMT's potential qualification by Apple could disrupt the DRAM oligopoly, hurting the cash flows and pricing power of incumbent memory manufacturers. This is a huge risk for the memory complex.
MU 000660.KS MED
Kelly Covley Senior Investment Analyst, Manning & Napier 47:30
Energy prices face prolonged upward pressure
Even in a diplomatic off-ramp scenario, damaged pipelines, refineries and infrastructure will take time to come back online, causing a prolonged period of upward pressure on energy prices. This will keep the Federal Reserve hawkish.
WTI MED
Akhil Bansal Head of Asset-Backed Finance, Carlyle 62:48
Natural gas is next AI currency
Natural gas is set to become the next currency of AI as massive data center buildouts require reliable power generation. This creates a structural demand driver and makes natural gas a key investment focus.
UNG MED
Celeste Mastin CEO, H.B. Fuller 66:49
H.B. Fuller medical adhesive strategy creates value
The company is executing its strategic plan to move into high-margin medical adhesives via the AMS acquisition. Despite activist pushback, management believes this will drive the best value for shareholders and has already improved EBITDA margins by 400 basis points.
FUL MED
Up Next
2:26
Paramount-Warner Bros. Judge Pauses Deal With ‘Serious’ Concerns
Bloomberg Markets · Jul 27
9:18
Sen. Warner: 'Clock Is Ticking' on AI Regulation
Bloomberg Markets · Jul 27
41:35
Squawk Pod: It’s all one trade: Steve Eisman’s AI market play- 07/27/26 | Audio Only
CNBC · Jul 27
3:49
How investors can navigate the healthcare sector
CNBC · Jul 27
2:49
Eyeing ETF flows ahead of this week’s Fed meeting
CNBC · Jul 27

This Bloomberg Markets video, published July 27, 2026, features Kate Moore, Mandeep Singh, Kelly Covley, Akhil Bansal, Celeste Mastin discussing SPY, SHV, TLT, LQD, MU, 000660.KS, WTI, UNG, FUL. 8 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Kate Moore, Mandeep Singh, Kelly Covley, Akhil Bansal, Celeste Mastin  · Tickers: SPY, SHV, TLT, LQD, MU, 000660.KS, WTI, UNG, FUL