Iran, Oil, Canada & U.S. Trade Tensions

Watch on YouTube ↗  |  September 08, 2026 at 21:54  |  1:35:34  |  Bloomberg Markets
Speakers
Amy Wu Silverman — Head of Derivatives Strategy, RBC Capital Markets
Andrew DiCapua — Principal Economist, Canada Chamber of Commerce
Simeon Siegel — Senior Analyst of Retail & Commerce, Guggenheim Partners
Heath Golden — CEO, Marquee Brands
Brian Casey — CEO, Westwood Holdings Group
Nelson Yu — Head of Equities, AllianceBernstein
Maria Ariza — CEO, BIVA
Akash Palkhiwala — EVP and CFO, QUALCOMM Incorporated
Jeetu Patel — President and Chief Product Officer, Cisco
Romaine Bostick — Anchor, Bloomberg
Ilya Espino de Marotta — Head of the Panama Canal Authority
Jacob Silverman — CEO, Kroll
Carol Massar — Anchor, Bloomberg

Summary

The video covers a volatile post-Labor Day market session marked by U.S.-Canada trade tensions and an Iran-related oil spike. Guests discuss September volatility, Canada and Mexico investment implications, AI power infrastructure, retail brand shifts, and tech deals including Qualcomm-Amazon and Cisco cybersecurity. The main market implications are elevated oil prices, broadening equity leadership beyond AI, and continued geopolitical and trade uncertainty.

  • U.S. stocks close lower with the S&P 500 down about 0.5% on trade and geopolitical concerns.
  • Canada retaliates with tariffs ranging from 15% to 50%, raising economic damage concerns for both countries.
  • Iran headlines send crude oil toward $99-$100 and push equities to session lows.
  • RBC's Amy Wu Silverman expects September volatility and correlation to pick up.
  • Westwood's Brian Casey launches PWRX to play the AI power ecosystem on the Texas Stock Exchange.
  • Guggenheim's Simeon Siegel sees Lululemon under pressure and favors Ross/TJ Maxx as off-price share winners.
  • Qualcomm's CFO details a $60 billion Amazon optical connectivity deal; Cisco's product chief sees AI security leadership.
  • BIVA's CEO pitches Mexico as an investment opportunity while trade and infrastructure themes dominate.
Ideas
Amy Wu Silverman Head of Derivatives Strategy, RBC Capital Markets 3:32
Volatility should rise in September.
With macro catalysts such as CPI, midterms and geopolitical headlines ahead, September is seasonally volatile; she expects volatility and correlation to pick up and the market to match or exceed the typical September VIX pop, with clients starting to look at hedges.
VIX HIGH
Andrew DiCapua Principal Economist, Canada Chamber of Commerce 12:49
Canada resource exports diversify and benefit.
Canada is successfully diversifying oil and natural gas exports to Asia and Europe via the Trans Mountain pipeline expansion, with significant demand for Canadian natural resources; record precious metals and aluminum also benefit Canada and provide a buffer against U.S. trade-war damage.
EWC MED
Simeon Siegel Senior Analyst of Retail & Commerce, Guggenheim Partners 18:52
Lululemon lost specialness; pressure ahead.
Lululemon has become too large and is losing its specialness, allowing other brands to grab market share; this should create ongoing pressure on the brand.
LULU MED
Simeon Siegel Senior Analyst of Retail & Commerce, Guggenheim Partners 21:00
Ross and TJ Maxx gaining share.
Off-price retail has been a durable winner, but not all players are winning; Ross Stores and TJ Maxx are the market-share takers to watch in a market-share-taker versus market-share-giver environment.
ROST TJX LOW
Nelson Yu Head of Equities, AllianceBernstein 39:00
Market broadening lifts healthcare, industrials, software.
The market is broadening beyond big tech; healthcare, industrials, and other areas have been doing well, and as the rate of AI capex investment slows, software is getting a bid on confidence in disruption.
XLV XLI IGV MED
Nelson Yu Head of Equities, AllianceBernstein 42:19
Europe, Japan, LatAm diversify AI risk.
Europe, Japan, and Latin America are running independently of the AI trade with lower correlation to US AI stocks, making them natural diversification candidates as volatility increases.
VGK EWJ Latin America MED
Maria Ariza CEO, BIVA 55:46
Mexico offers growing investment opportunities.
Mexico has deep local capital with pension funds at 25% of GDP growing to 40%, large infrastructure opportunities, and records in its markets; she pitches Mexico as a great investment opportunity needing international coinvestors.
EWW MED
Akash Palkhiwala EVP and CFO, QUALCOMM Incorporated 73:28
Amazon deal validates Qualcomm data center.
The Amazon engagement is a long-term strategic data-center deal supplying multiple generations of optical connectivity solutions, targeting $60 billion revenue over 10 years and validating Qualcomm's data-center revenue forecast beyond prior expectations.
QCOM HIGH
Jeetu Patel President and Chief Product Officer, Cisco 83:24
Cisco leads security-network fusion.
Cyber defenses must fuse into the network as AI attacks become machine-scale; Cisco has the most network telemetry to detect lateral movement and can combine security and networking into smart switches, giving it an advantage.
CSCO HIGH
Up Next
2:38
Apple Set for Major Product Launch with Foldable iPhone
Bloomberg Markets · Sep 08
10:31
Apple to Unveil First Foldable Phone
Bloomberg Markets · Sep 08
7:38
We Are More Than Just Crypto: Coinbase's VanGrack
Bloomberg Markets · Sep 08
1:45
New Bitcoin Hack Exposes Cracks In Crypto
Bloomberg Markets · Sep 08
19:09
Crise no Supremo já impacta as pesquisas eleitorais
Fernando Ulrich · Sep 08

This Bloomberg Markets video, published September 08, 2026, features Amy Wu Silverman, Andrew DiCapua, Simeon Siegel, Nelson Yu, Maria Ariza, Akash Palkhiwala, Jeetu Patel discussing VIX, EWC, LULU, ROST, TJX, XLV, XLI, IGV, VGK, EWJ, Latin America, EWW, QCOM, CSCO. 9 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Amy Wu Silverman, Andrew DiCapua, Simeon Siegel, Nelson Yu, Maria Ariza, Akash Palkhiwala, Jeetu Patel  · Tickers: VIX, EWC, LULU, ROST, TJX, XLV, XLI, IGV, VGK, EWJ, Latin America, EWW, QCOM, CSCO