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Northern Trust Asset Management President Michael Hunstad joins Bloomberg Open Interest to explain why Wall Street is still underestimating AI's economic impact. From margin expansion and AI-powered investing to why the Fed may stay restrictive because of productivity gains, Hunstad lays out a bullish case for markets and the next phase of the AI boom.

Hopes for a deal to end the Iran war and revive the Strait of Hormuz drove oil lower while leaving stocks near record highs, with the market also supported by enthusiasm for artificial-intelligence trades. Mina Krishnan, Multi-Asset Portfolio Manager at Schroders, gives her current market outlook and what to expect from inflation and GDP forecasts for the remainder of 2026.

As Americans confront a surge in prices at the pump, another inflation wave is headed for the grocery store. A combination of factors including bad weather, tariffs and a dwindling cattle herd are already pushing up grocery prices at an above-average pace. In April, they rose by the most in nearly four years, and economists say the impact of the Iran war and a potential El Niño weather pattern will only add to pressures into 2027. Arkady Gevorkyan, Citi Commodities Strategist, breaks down how this weather pattern will impact pricing across commodities, especially sugar.

On this episode of Stock Movers with Alexis Christoforous: - Dick's Sporting Goods (DKS) shares are lower after it forecast earnings per share for the full year of $13.27 to $14.27. - Lululemon (LULU) is up as it agreed to resolve a long-simmering dispute with founder Chip Wilson by overhauling its board with three new directors. The company will name two of Wilson's nominees to the board in Laura Gentile, a former ESPN executive, and Marc Maurer, the previous co-chief executive officer of sneaker maker On. A third new director will be announced by October 1. - Bath and Body Works (BBWI) shares are higher after it reported lower first quarter sales and says it's overhauling its strategy to return to growth. Sales were still better than expected.

Nasdaq President Nelson Griggs says no rules were broken in winning the SpaceX initial public offering, which could be the largest ever. He does talk about new rules that let companies get added to its index faster. He speaks on "Bloomberg Open Interest."

Senator Imee Marcos hopes the trial of impeached Philippine Vice President Sara Duterte would conclude by September and says she prefers that only evidence pertinent to the case would be presented in the proceedings. Duterte will be tried in the Senate that's set to start in July and Marcos, the estranged sister of President Ferdinand Marcos Jr., is among 13 lawmakers from the 24-member chamber allied with the vice president.

Lululemon Athletica Inc. is ending a long-running fight with founder Chip Wilson. It will appoint two of his nominees to the board following this year's annual meeting. Bloomberg's Romaine Bostick reports.

Micron has experienced a significant market surge, surpassing a $1 trillion valuation driven by robust demand in the artificial intelligence sector. Despite this, the company remains undervalued, trading at under 10 times forward earnings. Bloomberg Intelligence's Jake Silverman has more on "Bloomberg Open Interest."

An unofficial draft of a peace deal says the Strait of Hormuz would return to normal within a month, according to Iranian state television. It also says the the US naval blockade would end. Oil prices fell on the news. It's unclear what the US has agreed to. Bloomberg's Tyler Kendall reports.

Strategists at Goldman Sachs increased their year-end target for the US benchmark to 8,000 points, ditching a previous forecast of 7,600. They see earnings growth powered by the AI boom driving further gains in stocks. Michael Msika reports on Bloomberg Television.

Katrina Paglia, chief legal officer at Pantera Capital Management, joins Isabelle Lee and Tim Stenovec on "Bloomberg Crypto." A key Senate panel recently moved forward the so-called Clarity Act even as bank associations said the bill "falls short."

Jim Caron, Morgan Stanley Investment Management portfolio solutions CIO, says this is a stock pickers market, but it's still very important to have a diversified portfolio. He speaks on "Bloomberg Surveillance."