Editorial companion

What stands out

On Bloomberg This Weekend, Joe Quinlan of Merrill & Bank of America told David Gura and Christina Ruffini that the US economy looks more resilient than the July jobs number suggests, pointing to ongoing hiring in construction and health care and a wave of investment tied to AI. That matters because it turns a noisy payroll headline into a story about capital reallocation, companies choosing to spend on machines and cloud rather than immediate broad hiring. For investors, Quinlan’s bullishness is a reminder that investment cycles can drive earnings over years, not minutes, and that AI capex can shift demand across sectors.