The S&P 500 closed at a record high on Jan. 19, for the first time in two years. It was the start of a winning streak. In today’s Big Take episode, Bloomberg markets editor Chris Nagi joins the show to discuss why Wall Street’s somewhat pessimistic expectations for this year’s stock market were blown out of the water.

The S&amp;P 500 closed at a record high on Jan. 19, for the first time in two years. It was the start of a winning streak. In today’s Big Take episode, Bloomberg markets editor Chris Nagi joins the show to discuss why Wall Street’s somewhat pessimistic expectations for this year’s stock market were blown out of the water.

The Big Take from Bloomberg News brings you inside what’s shaping the world's economies with the smartest and most informed business reporters around the world. The context you need on the stories that can move markets. Every afternoon.

The Big Take from Bloomberg News brings you inside what’s shaping the world's economies with the smartest and most informed business reporters around the world. The context you need on the stories that can move markets. Every afternoon.

Big Take

The Stock Market’s Historic Rally, Explained

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/8ed657f6-fc83-463e-9212-b101017a2549/transcript

Ahead of the Federal Reserve’s decision to hold rates steady this week, host Sarah Holder sat down with author and economic commentator Kyla Scanlon to talk about who’s continuing to spend and borrow, who isn’t and what happens when consumer spending doesn’t equal consumer confidence. 

Read more: 
Voters’ Inflation Frustrations Take Shine Off Strong Economic Growth
Kyla’s Newsletter: The Shrugflation Triangle: How AI, Oil, and Treasuries are Impacting the Economy 

We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer.

Host: Sarah Holder; Guest: Kyla Scanlon; Produced by David Fox; Edited by Tracey Samuelson and Patrick Hirsch; Engineering by Emma Munger.

Ahead of the Federal Reserve&rsquo;s decision to hold rates steady this week, host Sarah Holder sat down with author and economic commentator Kyla Scanlon to talk about who&rsquo;s continuing to spend and borrow, who isn&rsquo;t and what happens when consumer spending doesn&rsquo;t equal consumer confidence.&nbsp;
Read more:&nbsp;
<ul>
<li><a href="https://www.bloomberg.com/news/articles/2026-10-29/strong-gdp-unlikely-to-sway-midterm-voters-worried-about-inflation">Voters&rsquo; Inflation Frustrations Take Shine Off Strong Economic Growth</a></li>
<li>Kyla&rsquo;s Newsletter: <a href="https://kyla.substack.com/p/the-shrugflation-triangle-how-ai">The Shrugflation Triangle: How AI, Oil, and Treasuries are Impacting the Economy</a>&nbsp;</li>
</ul>
We have a special Bloomberg subscription offer for podcast listeners at <a href="https://www.bloomberg.com/subscriptions/podcasts">Bloomberg.com/podcastoffer.</a>
Host: Sarah Holder; Guest: Kyla Scanlon; Produced by David Fox; Edited by Tracey Samuelson and Patrick Hirsch; Engineering by Emma Munger.

Kyla Scanlon’s ‘Shrugflation’ Triangle

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/ef0b1073-684d-4545-8f27-b4f20150ff66/transcript

Republicans in Texas, hoping to lock in more seats in Congress, kicked off a redistricting frenzy that saw several other states redraw their congressional maps. Today on the show, host David Gura sits down with Bloomberg Texas Bureau Chief Julie Fine and Senior White House reporter Josh Wingrove to talk through why that gamble may not pay off.

Read more:
Trump Calls for Peltola to Be Banned From Alaska Senate Race
Joe Rogan’s Microphone Goes Quieter on Trump Ahead of Midterms
Economic Pain Turns Nebraska Into Unexpected Senate Battleground

We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer.

Host: David Gura; Guests: Julie Fine and Josh Wingrove; Produced by David Fox; Edited by Nicole Beemsterboer and Naomi Shavin; Engineering by Sean Carter.

Republicans in Texas, hoping to lock in more seats in Congress, kicked off a redistricting frenzy that saw several other states redraw their congressional maps. Today on the show, host David Gura sits down with Bloomberg Texas Bureau Chief Julie Fine and Senior White House reporter Josh Wingrove to talk through why that gamble may not pay off.
Read more:
<ul>
<li><a href="https://www.bloomberg.com/news/articles/2026-10-28/trump-calls-for-peltola-to-be-banned-from-alaska-senate-race">Trump Calls for Peltola to Be Banned From Alaska Senate Race</a></li>
<li><a href="https://www.bloomberg.com/news/features/2026-10-28/joe-rogan-turns-more-critical-of-trump-ahead-of-2026-midterms">Joe Rogan&rsquo;s Microphone Goes Quieter on Trump Ahead of Midterms</a></li>
<li><a href="https://news.bgov.com/bloomberg-government-news/economic-pain-turns-nebraska-into-unexpected-senate-battleground">Economic Pain Turns Nebraska Into Unexpected Senate Battleground</a></li>
</ul>
We have a special Bloomberg subscription offer for podcast listeners at&nbsp;<a href="https://www.bloomberg.com/subscriptions/podcasts">Bloomberg.com/podcastoffer.</a>
Host: David Gura; Guests: Julie Fine and Josh Wingrove; Produced by David Fox; Edited by Nicole Beemsterboer and Naomi Shavin; Engineering by Sean Carter.

Was the US Republicans' Redistricting Effort a Texas-Sized Mistake?

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/e602e4aa-1865-4bd6-9a74-b4f1015e0d21/transcript

Anthropic’s initial public offering, set for November, will be the first by a company whose primary focus is developing frontier AI models. It could surpass SpaceX’s recent IPO as the biggest on record. And it’s risky. In 94 pages, the company laid out how its plans could be knocked off course by regulation, energy costs, climate change — or catastrophic risks to humanity caused by its own models.

In today’s episode, host Sarah Holder, Bloomberg Opinion columnist Dave Lee and Michael Regan, managing editor for US equities, talk about why the company is leaning into its risk prospectus, what a successful IPO would mean for competitors and markets and how much is riding on next week’s US midterm elections.

We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer.

Host: Sarah Holder; Guests: Dave Lee, Michael Regan; Produced by David Fox; Edited by Jeffrey Grocott; Engineering by Sean Carter.

Anthropic&rsquo;s initial public offering, set for November, will be the first by a company whose primary focus is developing frontier AI models. It could surpass SpaceX&rsquo;s recent IPO as the biggest on record. And it&rsquo;s risky. In 94 pages, the company laid out how its plans could be knocked off course by regulation, energy costs, climate change &mdash; or catastrophic risks to humanity caused by its own models.
In today&rsquo;s episode, host Sarah Holder, Bloomberg Opinion columnist Dave Lee and Michael Regan, managing editor for US equities, talk about why the company is leaning into its risk prospectus, what a successful IPO would mean for competitors and markets and how much is riding on next week&rsquo;s US midterm elections.
We have a special Bloomberg subscription offer for podcast listeners at <a href="https://www.bloomberg.com/subscriptions/podcasts">Bloomberg.com/podcastoffer.</a>
Host: Sarah Holder; Guests: Dave Lee, Michael Regan; Produced by David Fox; Edited by Jeffrey Grocott; Engineering by Sean Carter.

Anthropic's S-1

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/49861f97-a649-4827-9281-b4f00155b4cf/transcript

The Stock Market’s Historic Rally, Explained

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