Show Notes
A lot happened around the oil market: US president Trump announced a deal with Russian President Putin to buy Russian diesel; the Houthis attacked Riyadh airport in Saudi Arabia; Trump announced an “energy ceasefire” between Russia and Ukraine; Russia subsequently attacked Ukraine energy facilities; the US reportedly threatened to stop arms sales to Ukraine if they attacked Russian energy facilities.
More from UBS On-Air: Market Moves
Join David Lefkowitz, Head of Equities Americas, each month for a look at the factors that are driving performance across US equities. We also cover risk considerations, thematic focuses, and positioning recommendations from the UBS Chief Investment Office (as outlined within the latest UBS House View). This month, David reflects on the factors that are driving equity markets, including oil prices, AI, Fed monetary policy, Q3 corporate earnings, and the upcoming US midterm election. Plus, an outlook for equities into year-end, and the latest positioning views. Host: Daniel Cassidy
Technology sector equity movements are attracting attention, but economists retain an appropriate degree of aloofness. The pattern of consumers reducing savings to finance consumption has been fairly universal across advanced economies. Wealth effects from the technology sector have not been as universal. As wealth effects are meaningless without changes of behavior to translate them into real economic action, the global similarities of behavior hint at consumers having a muted dependence on rising equity markets.
With Election Day less than two weeks away, Shane drops by to share an assessment of how key Congressional races across the country are shaping up (and where donors are applying resources). We also cover recent reports of renewed trilateral talks amongst the US, Ukraine, Russia to end the conflict. Plus, a look at a new program initiative by the White House to identify and combat fraud. Featured is Shane Lieberman, Senior Governmental Affairs Advisor, Governmental Affairs US. Host: Daniel Cassidy
Oil prices continue to drift higher. US retail diesel prices are still near all-time highs, with no sign of mitigation from US administration policies. The news that the US is asking some of its diplomats to leave Saudi Arabia is not necessarily a positive signal about regional stability. Consumers should continue to consume despite the energy costs for the remainder of this year. Next year is when risks increase.
A quarterly check-up on the US macroeconomic environment, including consumer spending trends, the condition of the labor market, the road ahead for monetary policy, and the current landscape for deal-making. Featured is Paul Hsiao, Senior Asset Allocation Strategist Americas, UBS Chief Investment Office. Host: Daniel Cassidy