Bloomberg Podcasts
@bloombergpodcasts·503K subscribers·32.4K videos
Stocks Rise to Record on Trade Deal Optimism
Posted
July 24, 2025
Views
1,986
Likes
23
Comments
1
Engagement
1.21%
July 24, 2025
1,986
23
1
1.21%
Every word spoken in this episode is indexed. Type any phrase to jump straight to the moment it was said.
Type any word or phrase that may have been spoken. Click a result to seek the player to that exact moment.
Try a name, a topic, or a quoted line
See what was published immediately before and after this episode.
5:24Now PlayingBrian Belski, Chief Investment Strategist at BMO Capital Markets, brings us into the market open and talks about why he's remained bullish amid so much policy uncertainty.
Treasuries fell as jobless claims hit the lowest since April, underscoring labor-market strength that’s keeping the Federal Reserve on hold. Stocks hovered near record highs amid a deluge of corporate earnings.
Bonds dropped for a second day, with 10-year yields rising two basis points to 4.40%. Traders slightly pared bets on Fed cuts, projecting less than two reductions this year. The dollar wavered. The S&P 500 edged higher, with Alphabet Inc. up and Tesla Inc. down after their results.
Applications for US unemployment benefits fell for a sixth straight week - the longest stretch of declines since 2022. The characterization of the labor market will be a key feature of next week’s Fed meeting.
To Bret Kenwell at eToro, while the labor market is not firing on all cylinders, it’s not showing signs of distress either. If next week’s jobs data give another reassuring nod to the labor market, he says investors may breathe a further sigh of relief.
“There are still few signs of major cracks in the labor market,” said Chris Larkin at E*Trade from Morgan Stanley. “And if that picture remains intact, the Fed has one less reason to cut interest rates.”
Separate data showed US business activity expanded at the fastest rate this year while sales of new homes remained weak.
President Donald Trump will visit the Fed Thursday to tour the construction site he’s criticized for cost overruns amid his escalating attacks on Fed Chair Jerome Powell for not cutting rates.
Meantime, Christine Lagarde said the European Central Bank is in a “wait-and-see” mode after leaving interest rates unchanged for the first time in more than a year. Traders pared wagers on a final quarter-point move this year, pricing a 70% probability versus about 90% earlier.
--------
Watch Bloomberg Radio LIVE on YouTube
Weekdays 7am-6pm ET
Follow us on X
Subscribe to our Podcasts:
Bloomberg Daybreak
Bloomberg Surveillance
Bloomberg Intelligence
Balance of Power
Bloomberg Businessweek
Listen on Apple CarPlay and Android Auto with the Bloomberg Business app:
Apple CarPlay
Android Auto
Visit our YouTube channels:
Bloomberg Podcasts
Bloomberg Television
Bloomberg Originals
Sentinel Indexing in Progress
Metadata and chapters are available. Claim extraction for this episode is pending.
All video content is delivered via YouTube embedded players in accordance with the YouTube Terms of Service. Sentinel provides research tools that promote discovery and accountability across political media.
