Saxo Market Call Market complacent ahead of US jobs data. Is the US set to revalue its gold holdings?
10 snips
Sep 5, 2025 The market's complacency is palpable as yields drop, driven partly by a potential collaboration between Broadcom and OpenAI. Geopolitical tensions, including Russian troop movements, are stirring concerns that impact NATO and trade relations. Speculation buzzes around an upcoming Trump announcement that may touch on U.S. gold reserves. With U.S. job data looming and expectations of volatility, there’s a sense that something big is on the horizon, echoing familiar market anxieties. Intriguing discussions unfold regarding employment figures and innovative breakthroughs in technology.
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Complacent Rally Masks Weak Labor Signals
- US markets rallied despite weak labor signals, driven largely by lower yields and hopes of Fed cuts.
- John Hardy warns that rate-cut cycles tied to economic weakness often mark market danger points.
Broadcom–OpenAI Deal Could Challenge NVIDIA
- Broadcom reported a potential $10bn deal to design AI chips for OpenAI, which could compete with NVIDIA.
- The potential deal pushed late trading gains and raises competition in specialized AI hardware.
Viral Culture Lifted AEO Shares
- American Eagle Outfitters saw a viral marketing lift tied to actress Sydney Sweeney and pro-Trump attention.
- The stock jumped roughly 20% as social/political buzz drove shopper interest.
