Bloomberg Surveillance 4/14/2026

Watch on YouTube ↗  |  April 14, 2026 at 15:50  |  2:24:17  |  Bloomberg Markets
Speakers
Brian Levitt — Global Market Strategist, Invesco
Amy Gower — Metals & Mining Commodities Strategist, Morgan Stanley
Alicia Levine — Head of Investment Strategy at BNY Mellon
Eric Freedman — Professor, Hofstra University
Roland Lescure — Minister of Economy, France
Gene Seroka — Executive Director, Port of Los Angeles

Summary

This episode of Bloomberg Surveillance on April 14, 2026, focuses on the market's resilience amid the ongoing Middle East conflict, with stocks recovering war-related losses. Discussions center on the geopolitical situation, including the U.S. blockade of the Strait of Hormuz and potential peace talks with Iran. The program also covers major bank earnings, investment strategies favoring equities and specific sectors like tech and industrials, and analysis of commodities and inflation data.

  • The S&P 500 has wiped out losses since the Iran war began, trading near all-time highs.
  • Bank earnings from JPMorgan, Wells Fargo, and Citigroup show strong trading results but mixed net interest income guidance.
  • Geopolitical focus is on the U.S. naval blockade of the Strait of Hormuz and ongoing ceasefire talks between the U.S. and Iran.
  • Investment strategists from Invesco, Cantor Fitzgerald, BNY Wealth, and Northern Trust express a preference for equities over bonds.
  • Sector views include bullish calls on megacap tech, industrials, aluminum, gold, and French nuclear/renewable energy.
  • Commodity analysts discuss supply disruptions in aluminum and supportive central bank buying for gold.
  • Inflation data (PPI) came in softer than expected, but the Fed's policy path remains a key topic.
  • The potential confirmation hearing for Fed Chair nominee Kevin Warsch is noted for next week.
Trade Ideas
Brian Levitt Global Market Strategist, Invesco 7:07
Favor mega cap quality stocks and emerging markets.
Despite the Middle East conflict, the market is looking past it, with stocks having recovered losses and corporate America in good shape. The market is suggesting the conflict will conclude soon, and stocks are expected to perform bonds. Risk is back to neutral, favoring higher quality mega cap stocks in the portfolio, while also diversifying into emerging markets that are likely to outperform as the situation improves.
MGC QUAL EEM MED
Roland Lescure Minister of Economy, France 32:54
France investing in nuclear and renewables.
France is doubling down on investment in nuclear and renewable energy to achieve energy sovereignty, create jobs, and attract investment. With 40% of its energy already carbon-free and cheap from nuclear, this strategy addresses geopolitical, environmental, and economic drivers, making France an attractive location for data centers and other investments.
ICLN URA MED
Eric Johnston 52:00
Market multiple correction creates entry point.
The market multiple has corrected significantly while earnings expectations have risen, creating an attractive entry point. Megacap tech is poised to lead as earnings season is expected to be positive for the sector, with strong growth in cloud and a favorable outlook, especially given the demand for compute outstripping supply and extending the cycle.
SPY MED
Eric Johnston 52:00
Megacap tech to lead rally.
Megacap tech will lead the market rally as this earnings season will be positive for the sector relative to stock prices. Growth rates in cloud will be attractive, and commentary about the outlook will be favorable. The demand for compute is still mismatched with supply, and building data centers takes time, which will elongate the cycle.
XLK MED
Amy Gower Metals & Mining Commodities Strategist, Morgan Stanley 76:23
Central bank buying supports gold.
Gold demand is supported by stable central bank buying, which provides a floor. While ETF buying is more rate-dependent and has been selling recently, the fundamental support from official sector purchases remains. The reconnection with real yields may limit near-term upside, but the backdrop is supportive.
GOLD MED
Amy Gower Metals & Mining Commodities Strategist, Morgan Stanley 76:23
Aluminum supply disruption supports prices.
The Middle East conflict has caused significant physical disruption to aluminum supply, with the region representing 9% of global production. It takes about 12 months to fix production, leading to a tight market. This disruption, combined with power supply challenges and strong demand from stockpiling themes, should support aluminum prices well above cost.
JJU HIGH
Alicia Levine Head of Investment Strategy at BNY Mellon 104:22
Overweight equities, underweight bonds.
The firm remains overweight risk assets (equities) relative to bonds, believing the damage from sustained high oil prices would not allow the war to continue much longer. The U.S. economy entered the crisis on strong footing, earnings expectations have actually improved during the conflict, and the industrial/AI investment theme remains intact.
TLT HIGH
Alicia Levine Head of Investment Strategy at BNY Mellon 104:22
AI and reshoring boost industrials.
The AI buildout and industrial reshoring themes are driving a durable capital expenditure cycle, supporting growth in industrials and related sectors. This is an industrial revolution with forward momentum for the next few years, making industrials an attractive area for investment.
XLI MED
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This Bloomberg Markets video, published April 14, 2026, features Brian Levitt, Roland Lescure, Eric Johnston, Amy Gower, Alicia Levine discussing MGC, QUAL, EEM, ICLN, URA, SPY, XLK, GOLD, JJU, TLT, XLI. 8 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Brian Levitt, Roland Lescure, Eric Johnston, Amy Gower, Alicia Levine  · Tickers: MGC, QUAL, EEM, ICLN, URA, SPY, XLK, GOLD, JJU, TLT, XLI