Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News.
Speaker 2: A single best idea is that it has been five
Speaker 2: days of an extraordinary week with endless conversations. Instead of
Speaker 2: a single best idea, there's just uncountable ideas within the
Speaker 2: jumble that we're living. Elena Papena was just off the
Speaker 2: equity desk here at Bloomberg News. It made very clear
Speaker 2: the jumble of themes and all everybody's struggling on a
Speaker 2: Friday to write into the weekend to publish for Monday
Speaker 2: morning Japan and Pacific rim time. It's not that I've
Speaker 2: never seen it like this before. There's just a certain
Speaker 2: character because of the war, how we're all hung on
Speaker 2: each and every headline as well. Kevin Gordon was with
Speaker 2: us with Charles Schwab, just back from San Francisco. Kevin
Speaker 2: Gordon partitioning between the consumer and technology.
Speaker 1: For now, it is the difference I think in the
Speaker 1: consumer versus the rest of you know, tech communication services.
Speaker 1: You can actually take that split. You know, consumer discretionary
Speaker 1: tends to get lumped in with tech and comm services
Speaker 1: because it has two of the two of the Mac seven.
Speaker 1: But I think if you excluded those and you look
Speaker 1: at the broader consumer sector. You know, discretionary has been
Speaker 1: unchanged for the past year and a half versus you know,
Speaker 1: tech and com services doing much better. So I think
Speaker 1: that that's kind of been more of the nature of
Speaker 1: the k especially now, you know, assuming we get a
Speaker 1: relatively hot CPI next week for April, you're probably going
Speaker 1: to have another month where inflation adjusted wage growth was
Speaker 1: either zero or negative slightly. So I think it does
Speaker 1: make sense, given where we're at with both labor and inflation,
Speaker 1: why the consumer part of the market just hasn't participated
Speaker 1: as much.
Speaker 2: Kevin Gordon of Charles Schwaz John Stulfice with us he
Speaker 2: has been able, he has been right, right, right, even
Speaker 2: so thick, and then he levels out with an SPX
Speaker 2: up well over eight thousand that interpolates to AW of
Speaker 2: sixty thousand. John stolf Is of OpCo.
Speaker 3: Primarily is I think it's the market looking at prospects
Speaker 3: of what innovation will do likely as we move forward.
Speaker 3: We've already seen in the last few weeks a disembowelment
Speaker 3: of the thought that you know, you had to get
Speaker 3: immediate profits in terms of investment in AI. There seems
Speaker 3: even more reality. It takes time to see profits, but
Speaker 3: also the usage is going up significantly, both by consumers
Speaker 3: as well as businesses. I know, as a baby Boomer,
Speaker 3: I'm using it personally and I'm using it for business too.
Speaker 3: AI is part of my life now and I love
Speaker 3: the ask B. I think, is it B ask you.
Speaker 2: Can come back? John stolf As he can come back.
Speaker 2: Ask B is a really serious effort by Bloomberg to
Speaker 2: take all of the advantages and the of decades and
Speaker 2: decades and decades. I mean you look at the Dow
Speaker 2: Jones Industrial average back to World War One, to take
Speaker 2: just the synthesis of the Bloomberg terminal and bring it
Speaker 2: to our terminal users in an AI centric way. Tom Secunda,
Speaker 2: of course, one of our founders leading on this. Let's
Speaker 2: ask B go out at the terminal on podcasts where
Speaker 2: at Spotify, we're at Apple on YouTube podcasts. It's single
Speaker 2: best idea.