Saxo Market Call If a cat has nine lives, how many lives does a bear have?
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May 2, 2025 In this insightful discussion, Jacob Falkencrone, the Global Head of Investment Strategy, shares his perspectives on the recent recovery in tech stocks, spurred by AI spending from giants like Microsoft and Meta. He explores the implications for market sentiment and the critical levels for bearish investors. Jacob also dives into the current challenges in the labor market, tariff debates, and the latest trends in currency and commodity markets, providing a comprehensive outlook on what lies ahead for investors.
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AI Spending Powers Tech Rally
- Microsoft's and Meta's fast AI spending boosts market sentiment and tech stock prices substantially.
- Microsoft's Azure cloud rebound and Meta's new AI ad tools signal strong AI sector growth.
Apple Faces Tariff Risks
- Apple's $900 million tariff cost risk and falling China sales hurt investor confidence despite solid earnings.
- The company plans to shift more iPhone production to India to counter China-related tariff risks.
New Tariffs Hurt China and Europe
- U.S. tariffs now fully apply to sub-$800 Chinese packages, affecting millions of Chinese jobs.
- Europe consumes more cheap parcels than the U.S. but remains slow to adjust its tariff rules toward China.