Saxo Market Call Oracle spoils post-FOMC pump, can Broadcom save the day?
Dec 11, 2025
The S&P 500 aims for new heights but is shaken by Oracle's disappointing earnings, raising spending concerns. Can Broadcom's upcoming results shift the narrative back to AI optimism? Meanwhile, Carvana's S&P inclusion stirs controversy with allegations of fraud. The podcast also dives into Adobe's growth amidst tightening multiples and highlights GE Vernova's rise in the energy sector. Lastly, it considers the Fed's future moves and the implications of a potential QE reboot.
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Breadth Suggests Broader Market Strength
- Major breadth measures like the S&P equal-weight and Russell 2000 hit all-time highs, signaling broad market strength beyond mega-cap leadership.
- This breadth suggests investors may be betting on a stronger real economy, not just concentrated AI winners.
Use Broadcom As An AI Narrative Check
- Watch Broadcom's earnings as a litmus test for the AI hardware narrative and sector sentiment.
- Treat Oracle's miss as a company-specific event unless Broadcom confirms broader spending weakness.
AI Demand Ripples Into Power And Services
- Non-traditional AI beneficiaries like GE Vernova and Schlumberger rallied on opportunities tied to powering data centers and infrastructure.
- The AI ecosystem lift extends to power and services, broadening investment implications beyond chips and software.