Tom Keene breaks down the Single Best Idea from the latest edition of Bloomberg Surveillance Radio.

In this episode, we feature conversations with John Stoltzfus & Jay Bryson.

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- Jose Minaya, Global Head of BNY Investments & Wealth at BNY Wealth
- Steven Ricchiuto, Chief US Economist at Mizuho
- Jeannette Lowe, Director: Policy Research at Strategas Securities
- Angelo Zino, Head: Technology at CFRA Research

Jose Minaya, Global Head of BNY Investments & Wealth at BNY Wealth, joins to discuss his outlook for markets and a potential pullback in the equity rally. Steven Ricchiuto, Chief US Economist at Mizuho, discusses US economic bullishness amid continued policy uncertainty. Jeannette Lowe, Director: Policy Research at Strategas Securities, talks about President Trump's tariff proposals as the administration looked to deliver more clarity on tariff rates this week. Angelo Zino, Head: Technology at CFRA Research, discuss Nvidia's market cap record and the outlook for big tech.

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyJuly 11th, 2025
Featuring:
1) John Stoltzfus, Chief Investment Strategist at Oppenheimer & Co., joins for an extended discussion on the sustainability of the equity rally and his S&P target as he remains one of Wall Street's leading bulls. Investor appetite for equities remain strong, driven by confidence in the US economy’s resilience and optimism ahead of earnings season, according to the text, with David Chao, a global market strategist at Invesco Asset Management, saying investors are having a “tariff fatigue”.
2) Michael Widmer, Head: Metals Research at Bank of America, joins to talk about President Trump's copper tariffs and how it's reshaping copper and other metals markets. President Trump’s plans to impose import tariffs on copper imports are set to include materials used for power grids, the military and data centers. Plans involve including semi-finished products, according to people familiar with the matter, which would include wires, sheets, tubes and plates.
3) Jurrien Timmer, Director: Global Macro Fidelity Management & Research, joins to discuss the "V-Shaped Rocket Ship." Despite yesterday's record finish for equities, strategists are sounding warnings about the impact of uncertain tariff policy on stocks, saying it could reduce the chances of a September rate cut and increase the chances of an economic slowdown.
4) Ellen Wald, Senior Fellow at the Atlantic Council, talks about Saudi Arabia raising oil prices more than expected and global oil demand. Saudi Arabia has raised prices for its main crude grade for Asian buyers in August by $1 to $2.20 a barrel more than the regional benchmark, exceeding expectations. The price increase comes as OPEC+ agrees to raise production by 548,000 barrels a day in August, which may contribute to a crude surplus later this year. Despite strong summer demand, traders expect the market to soften later this year as consumption wanes and OPEC+ increases contribute to a surplus of crude in storage.
5) Cam Dawson, CIO at NewEdge Wealth, talks about why she's dubbing the current equity rally as the "Honey Badger" market. US equities closed at a new all-time high on Thursday as investors parsed tariff headlines and looked ahead to corporate results.

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