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This is the Bloomberg Surveillance Podcast. I'm Jonathan Ferro, along with Lisa Abramwitz

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From our global headquarters in New York City, we are live on Bloomberg Television

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Subscribe to the podcast on Apple, Spotify or anywhere else you listen. And as always, on the

Bloomberg Terminal and the Bloomberg Business Out. We begin this hour with stocks looking to

build on a record-breaking 9-day winnage streak, Cameron Dawson of New Edge Wealth, writing,

You Can't Stop the Beats, with earnings beats and raises continuing to be the justification for new highs in equity markets. Cam joins us for more. Cameron, good morning. Good morning. It's going to see you. Look, the fundamental story I think is well understood at this point. The earnings have been super, super powerful. Where is the more speculative story emerging for you? Oh, well, we've seen an incredible rally in the most speculative

portions of the market. Look at the Goldman Sachs Unprofitable Tech Index, up 15% in last week

alone. It's up 65% since the March lows. You look at the cohort of space names. Most of them

are unprofitable. They're up 100% year-to-date. You look at the Russell 2,500. The leaders in that index are all coming from very unprofitable. They're up a hundred percent year to date. If you look at the Russell

2,500, the leaders in that index are all coming from very unprofitable names. If you take out,

...