Bloomberg Surveillance Bloomberg Surveillance TV: February 6th, 2026
Feb 6, 2026
Jeannette Lowe, Strategas policy expert on regulatory and Fed appointment politics. Stephanie Roth, Wolfe Research chief economist focused on labor and inflation trends. Brian Levitt, Invesco market strategist tracking macro shifts and sector rotation. They discuss market leadership rotation, mixed economic signals and Fed timing, AI capex versus labor impacts, and election-year policy priorities.
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Market Leadership Is Rotating
- Markets are rotating away from speculative software toward industrials, energy, and semiconductors as investors seek earnings leverage.
- Brian Levitt sees that broad indexes mask concentrated pain in hot parts of the market like software and crypto.
Tech Capex Supports Growth Amid Confusion
- Large tech capex will support segments of the economy even amid some labor weakness.
- Levitt expects Fed cuts toward 3% as inflation expectations remain contained.
Be Selective With Hyperscalers
- Evaluate hyperscaler stocks company-by-company rather than owning the whole group.
- Be selective because business models and investment needs have materially changed.