Bloomberg Surveillance: Market Optimism
Watch Tom and Paul LIVE every day on YouTube: http://bit.ly/3vTiACF. Bloomberg Surveillance hosted by Tom Keene & Paul Sweeney June 9th, 2025 Featuring: 1) Ben Laidler, Head of Equity Strategy at Bradesco BBI, joins for an extended discussion on equity bullishness and where he believes the S&P can land in 2025. The S&P 500 benchmark is nearing all-time highs, but traders are searching for catalysts for sustained advances amid ongoing trade uncertainty. 2) Henrietta Treyz, co-founder at Veda Partners, joins to discuss DC headlines including the riots in LA and latest on the tax bill after Elon Musk's White House fallout. Senate Republicans plan to propose revised tax and health-care provisions to President Trump's $3 trillion economic package, despite criticism from Elon Musk. 3) Charles Kantor, Senior Portfolio Manager at Neuberger Berman, talks about why history rhymes between now and the 2000 .com bubble and the potential for a consumer crunch. Markets are focusing on a $22 billion auction of 30-year bonds on Thursday and Wednesday's US inflation report for May, which may show a slightly faster pace of price increases. 4) Lisa Mateo joins with the latest headlines in newspapers across the US, including Bloomberg reporting on baseball's TV deal and WSJ's look at Father's Day gifts.
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Associated Press
21 minutes ago
- Associated Press
Consultant on trial for AI-generated robocalls mimicking Biden says he has no regrets
LACONIA, N.H. (AP) — A political consultant told a New Hampshire jury Wednesday that he doesn't regret sending voters robocalls that used artificial intelligence to mimic former President Joe Biden and that he's confident he didn't break the law. Steven Kramer, 56, of New Orleans, has long admitted to orchestrating a message sent to thousands of voters two days before New Hampshire's Jan. 23, 2024, presidential primary. Recipients heard an AI-generated voice similar to the Democratic president's that used his catchphrase 'What a bunch of malarkey' and, as prosecutors allege, suggested that voting in the primary would preclude voters from casting ballots in November. 'It's important that you save your vote for the November election,' voters were told. 'Your votes make a difference in November, not this Tuesday.' Kramer, who faces decades in prison if convicted of voter suppression and impersonating a candidate, said his goal was to send a wake-up call about the potential dangers of AI when he paid a New Orleans magician $150 to create the recording. He was getting frequent calls from people using AI in campaigns, and, worried about the lack of regulations, made it his New Year's resolution to take action. 'This is going to be my one good deed this year,' he recalled while testifying in Belknap County Superior Court. He said his goal wasn't to influence an election, because he didn't consider the primary a real election. At Biden's request, the Democratic National Committee dislodged New Hampshire from its traditional early spot in the 2024 nominating calendar but later dropped its threat not to seat the state's national convention delegates. Biden did not put his name on the ballot or campaign there but won as a write-in. Kramer, who owns a firm specializing in get-out-the-vote projects, argued that the primary was a meaningless straw poll unsanctioned by the DNC. At the time the calls went out, voters were disenfranchised, he said. Asked by his attorney, Tom Reid, whether he did anything illegal, Kramer said, 'I'm positive I did not.' Later, he said he had no regrets and that his actions likely spurred AI regulations in multiple states. Kramer, who will be questioned by prosecutors Thursday, also faces a $6 million fine by the Federal Communications Commission but told The Associated Press on Wednesday that he won't pay it. Lingo Telecom, the company that transmitted the calls, agreed to pay $1 million in a settlement in August. The robocalls appeared to come from a former New Hampshire Democratic Party chair, Kathy Sullivan, and told voters to call her number to be removed from the call list. On the witness stand earlier Wednesday, Sullivan said she was confused and then outraged after speaking to one of the recipients and later hearing the message. 'I hung up the phone and said, 'There is something really crazy going on,'' she said. 'Someone is trying to suppress the vote for Biden. I can't believe this is happening.' Months later, she got a call from Kramer in which he said he used her number because he knew she would contact law enforcement and the media. He also described his motive — highlighting AI's potential dangers — but she didn't believe him, she testified. 'My sense was he was trying to convince me that he'd done this defensible, good thing,' she said. 'I'm listening to this thinking to myself, 'What does he thing I am, stupid?' He tried to suppress the vote.'
Yahoo
23 minutes ago
- Yahoo
Wall Street on Edge: Inflation Spike, $58B Debt Test, and Trade Turmoil Collide
Wall Street is holding its breath as two market-moving forces line up: inflation and debt. Investors are watching closely as the U.S. and China restart trade talks in London, aiming to ease tensions and avoid another round of tariff escalations. Meanwhile, a $58 billion Treasury auction could test demand for U.S. debt at a time when long-end yields hover near 5%a level many thought would spark broader market reactions. BMO's Ian Lyngen calls this week's combo of May CPI and Treasury supply a tradable event, with core inflation expected to accelerate to 2.9% year-over-yearthe first uptick of the year. The S&P 500 (SPY) sits roughly 2% from its February peak, but volatility could return fast depending on how these numbers land. Warning! GuruFocus has detected 5 Warning Sign with META. Despite the rebound from April's tariff-driven slide, institutional investors have yet to jump back into equities in full force. Deutsche Bank notes that institutional positioning has been this low less than a quarter of the time since 2010. JPMorgan and Barclays, however, suggest the tide could be turning, with more big money managers set to ramp up equity exposure. That shift hasn't shown up yetBank of America's clients were net sellers last week, with institutions pulling out while hedge funds and retail buyers stepped in. Strategist Jill Carey Hall thinks the market may have already priced in much of the deglobalization risk, but not the potential upside from underappreciated tax policy tailwinds. On the corporate front, action is heating up. Tesla (NASDAQ:TSLA) isn't grabbing headlines today, but its peers are moving fast. Meta's (NASDAQ:META) CEO Mark Zuckerberg is going all-in on artificial general intelligence, quietly assembling a powerhouse team to build out the next big wave in AI. Boeing (NYSE:BA) just secured its biggest monthly order tally in over a yearmuch of it inked during President Trump's trip to the Middle East. Cisco (NASDAQ:CSCO) is rolling out new AI-powered upgrades across its networking portfolio to stay competitive in the enterprise race. Taiwan Semiconductor (NYSE:TSM) posted a 40% revenue surge in May as chipmakers rushed to build inventory ahead of potential trade roadblocks. Not everything was rosyMcDonald's (NYSE:MCD) was slapped with a rare sell rating from Redburn Atlantic, and Citigroup (NYSE:C) is preparing to book hundreds of millions more in loan loss provisions, signaling early cracks in consumer credit health. This article first appeared on GuruFocus.
Washington Post
23 minutes ago
- Washington Post
National Guard troops have temporarily detained civilians in LA protests, commander says
WASHINGTON — National Guard troops already have temporarily detained civilians in the Los Angeles protests over immigration raids , the commander in charge said Wednesday, but they quickly turned them over to law enforcement. Maj. Gen. Scott Sherman, speaking in an interview with The Associated Press and one other media outlet, also said about 500 of the National Guard troops have been trained so far to accompany agents on immigration operations . Photos of Guard soldiers providing security for the agents have already been circulated by immigration officials.
