Baltimore Mayor on His Advice to NY's Mamdani

Andrew Kimball, President & CEO of the NYC Economic Development Corporation, praised the Mayor-elect's emphasis on affordability, noting its resonance with voters. He highlighted that affordability is a critical economic development issue essential for the city's future stability and growth.

Russ Brownback, BlackRock’s Deputy CIO, predicts a wave of mergers and acquisitions (M&A) in 2026, attributing this to a 2% productivity growth that allows the economy to expand without increasing hours worked. He emphasizes the potential of generative AI to further enhance productivity during an interview on Bloomberg's 'The Close.'

The S&P 500 index reached a new record high, closing at an all-time peak, despite a decline in Oracle shares following disappointing earnings results. This market close was covered extensively on Bloomberg Television and other platforms, highlighting the contrasting performance of the index and Oracle's stock.

Eric Rosengren, former President of the Boston Federal Reserve, asserted that Chair Jerome Powell is not a lame duck and will continue to influence monetary policy actively. He emphasized Powell's intention to ensure a stable economy before transitioning to a new Fed chair, who will face a more complex committee dynamic.

The DealBook Summit held in New York featured a diverse group of industry leaders from technology, finance, education, and the arts, engaging in discussions aimed at addressing pressing contemporary issues. The event served as a platform for experts to share insights and foster dialogue on critical topics affecting various sectors.

U.S. stocks rose following the Federal Reserve's decision to cut interest rates by 25 basis points, marking the third consecutive reduction aimed at addressing ongoing economic challenges. Analysts Romaine Bostick, Katie Greifeld, Carol Massar, and Tim Stenovec provided insights during Bloomberg's market close coverage, highlighting the positive market response to the Fed's actions.

Markets are exhibiting caution ahead of the upcoming Federal Reserve meeting, with rising bond yields contributing to a wary sentiment among investors. Analysts from Bloomberg, including Romaine Bostick, Katie Greifeld, Carol Massar, and Tim Stenovec, provided insights during the market close coverage, reflecting on the potential implications of the Fed's decisions.

Jeff Simmons, CEO of Elanco Animal Health, highlighted the growth driven by the humanization of pets during an interview on 'The Close.' He noted that Elanco's new medication, Canilevia Quattro, is rapidly gaining market share and is the fastest blockbuster in the company's history.