Bloomberg Surveillance TV: November 5th, 2025

- Michael Gapen, Chief US Economist & Matthew Hornbach, Global Head of Macro Strategy at Morgan Stanley
- Kathryn Wylde, President & CEO at Partnership for New York City
- Nazak Nikakhtar, Former Undersecretary and Assistant Secretary at the Department of Commerce & National Security Practice Chair at Wiley Rein
- Jim Zelter, President at Apollo Global Management

Michael Gapen, Chief US Economist & Matthew Hornbach, Global Head of Macro Strategy at Morgan Stanley, join to react to the week's ADP data and share their market outlook for Q4. Kathryn Wylde, President & CEO at Partnership for New York City, discusses Zohran Mamdani's victory in the New York City mayoral election and what it means for Wall Street. Nazak Nikakhtar, Former Undersecretary and Assistant Secretary at the Department of Commerce & National Security Practice Chair at Wiley Rein, joins to discuss the Supreme Court hearing arguments over the legality of President Trump's tariffs imposed by invoking the International Emergency Economics Powers Act. Jim Zelter, President at Apollo Global Management, warns that the rush of capital into artificial intelligence and data centers is fueling high valuations and increasing risk for investors.

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