Saxo Market Call

The podcast dives into a significant correction in mega-cap and AI stocks, raising concerns about underlying market drivers. An intriguing discussion unfolds on why strong earnings, like Palantir's, failed to buoy prices. The hosts highlight potential risks of corrections without clear catalysts, suggesting deeper vulnerabilities might exist. They touch on Asian market volatility and credit spread widening as early stress indicators. The outlook for upcoming corporate earnings and technical market indicators also keeps listeners on their toes.

In this episode, Ole Hansen, Head of Commodity Strategy at Saxo, shares his insights on the fluctuating commodities market. He discusses the recent stabilization of gold and implications from Chinese VAT changes. Hansen also delves into the soybean rally triggered by China's buying and the effects of seasonal demand on oil prices, highlighting OPEC's strategic moves. Lastly, he analyzes copper's potential breakout amidst supply concerns. Tune in for expert forecasts on these pivotal market trends.

Ruben Dalfovo, an equity strategist at Saxo, shares his insights on the recent shakeup in the US equity market, spurred by Amazon's impressive earnings. The conversation dives into the mysterious 'Hindenburg Omen' and its mixed track record. Dalfovo analyzes major tech earnings from Meta, Alphabet, and Apple, highlighting contrasts in AI investments and consumer behavior. Key themes include NVIDIA's partnerships and Eli Lilly's strong performance in obesity drugs, leaving listeners curious about next week's pivotal earnings reports.

The podcast dives into the easing of US-China trade tensions, highlighting key concessions made by both sides for a one-year pause. A discussion on the current narrow market rally raises concerns about its sustainability. The impact of Fed Chair Powell's hawkish stance and a dovish take from the Bank of Japan are explored. Insights on Bitcoin's potential as an independent asset class, along with earnings previews for major companies, add further intrigue. Additionally, the podcast touches upon rare earth supply chains and upcoming economic indicators.

Markets are buzzing as hopes rise for a favorable US-China trade deal ahead of a key summit. NVIDIA's strong performance highlights the potential in tech, but concerns linger over speculative AI stocks. A crucial 24-hour window approaches with central bank meetings and significant corporate earnings on the horizon. Meanwhile, the implications of a potential US government shutdown and market volatility from mega-cap swings add to the landscape of uncertainty. Tune in for insights on global economic dynamics and market movements!

Today, a look at the strong risk appetite rally encouraged by hopes for a respite or detente in the US-China trade war. Also, a look at some wild moves on AI-chip related moves, Amazon's big job cuts, earnings ahead, and especially, on whether the end of the precious metals meltdown could free up some focus on currencies more broadly after their recent lack of volatility, with particular focus on the JPY. This and more on today's pod, which is hosted by Saxo Global Head of Macro Strategy John J. Hardy. Links discussed on the podcast and our Chart of the Day can be found on the John J. Hardy substack (within one to three hours from the time of the podcast release). Read daily in-depth market updates from the Saxo Market Call and the Saxo Strategy Team here. Please reach out to us at marketcall@saxobank.com for feedback and questions. Click here to open an account with Saxo. Intro and outro music by AShamaluevMusic DISCLAIMER This content is marketing material. Trading financial instruments carries risks. Always ensure that you understand these risks before trading. This material does not contain investment advice or an encouragement to invest in a particular manner. Historic performance is not a guarantee of future results. The instrument(s) referenced in this content may be issued by a partner, from whom Saxo Bank A/S receives promotional fees, payment or retrocessions. While Saxo may receive compensation from these partnerships, all content is created with the aim of providing clients with valuable information and options.

The US and China appear to be headed toward a trade deal, or at least an agreement to come to arms-length terms to de-escalate on a number of fronts for now. This is boosting already bubbly risk sentiment further as we enter the heart of earnings season, where five of the Mag7 are reporting later this week. All the AI-related spending will be a key point of scrutiny. Also, an update on macro and FX with four central banks meeting this week, some links and podcasts listens and more. Today's pod hosted by Saxo Global Head of Macro Strategy John J. Hardy. Links discussed on the podcast and our Chart of the Day can be found on the John J. Hardy substack (within one to three hours from the time of the podcast release). Read daily in-depth market updates from the Saxo Market Call and the Saxo Strategy Team here. Please reach out to us at marketcall@saxobank.com for feedback and questions. Click here to open an account with Saxo. Intro and outro music by AShamaluevMusic DISCLAIMER This content is marketing material. Trading financial instruments carries risks. Always ensure that you understand these risks before trading. This material does not contain investment advice or an encouragement to invest in a particular manner. Historic performance is not a guarantee of future results. The instrument(s) referenced in this content may be issued by a partner, from whom Saxo Bank A/S receives promotional fees, payment or retrocessions. While Saxo may receive compensation from these partnerships, all content is created with the aim of providing clients with valuable information and options.

Today, we look at a market that remains hopeful the US and China are maneuvering towards a comprehensive deal, which could clear the decks of significant geopolitical uncertainty for quite some time if Xi and Trump are headed toward a friendly meeting in person next week after trade talks through Monday. With Saxo Investment Strategist Ruben Dalfovo, we also run through the key earnings reports this week and what we're looking for in next week's mother lode of reports. Macro, FX, geopolitics, must reads and more also on today's pod, which is hosted by Saxo Global Head of Macro Strategy John J. Hardy. Links discussed on the podcast and our Chart of the Day can be found on the John J. Hardy substack (within one to three hours from the time of the podcast release). Read daily in-depth market updates from the Saxo Market Call and the Saxo Strategy Team here. Please reach out to us at marketcall@saxobank.com for feedback and questions. Click here to open an account with Saxo. Intro and outro music by AShamaluevMusic DISCLAIMER This content is marketing material. Trading financial instruments carries risks. Always ensure that you understand these risks before trading. This material does not contain investment advice or an encouragement to invest in a particular manner. Historic performance is not a guarantee of future results. The instrument(s) referenced in this content may be issued by a partner, from whom Saxo Bank A/S receives promotional fees, payment or retrocessions. While Saxo may receive compensation from these partnerships, all content is created with the aim of providing clients with valuable information and options.

Today we look at a rocky session for equities as geopolitical headlines spooked the market, which is trying to figure out whether the latest US threats are just chest thumping ahead of the key talks between the US and China kicking off tomorrow or a sign that trade tensions will escalate further. Also, plenty of single company news on earnings from Tesla, IBM and others, more fun and games for quantum computing stocks, key incoming data from Japan and the US that could spike FX volatility and more. Today's pod hosted by Saxo Global Head of Macro Strategy John J. Hardy. Links discussed on the podcast and our Chart of the Day can be found on the John J. Hardy substack (within one to three hours from the time of the podcast release). Read daily in-depth market updates from the Saxo Market Call and the Saxo Strategy Team here. Please reach out to us at marketcall@saxobank.com for feedback and questions. Click here to open an account with Saxo. Intro and outro music by AShamaluevMusic DISCLAIMER This content is marketing material. Trading financial instruments carries risks. Always ensure that you understand these risks before trading. This material does not contain investment advice or an encouragement to invest in a particular manner. Historic performance is not a guarantee of future results. The instrument(s) referenced in this content may be issued by a partner, from whom Saxo Bank A/S receives promotional fees, payment or retrocessions. While Saxo may receive compensation from these partnerships, all content is created with the aim of providing clients with valuable information and options.

Yesterday saw a low-energy session in US equity markets, though as ever with considerable turbulence and divergence beneath the surface. We also underline that in this key US-China relationship that is the focus ahead of the November 1 deadline for a new deal to emerge, China is as important as the US if it simply decides that it wants to use its leverage now and not make any concessions. The market is pricing zero risk of bad outcomes, which looks complacent, even if we have no idea what the probability distribution should be. Plenty more on on macro, FX and much more also on today's pod, which is hosted by Saxo Global Head of Macro Strategy John J. Hardy. Links discussed on the podcast and our Chart of the Day can be found on the John J. Hardy substack (within one to three hours from the time of the podcast release). Read daily in-depth market updates from the Saxo Market Call and the Saxo Strategy Team here. Please reach out to us at marketcall@saxobank.com for feedback and questions. Click here to open an account with Saxo. Intro and outro music by AShamaluevMusic DISCLAIMER This content is marketing material. Trading financial instruments carries risks. Always ensure that you understand these risks before trading. This material does not contain investment advice or an encouragement to invest in a particular manner. Historic performance is not a guarantee of future results. The instrument(s) referenced in this content may be issued by a partner, from whom Saxo Bank A/S receives promotional fees, payment or retrocessions. While Saxo may receive compensation from these partnerships, all content is created with the aim of providing clients with valuable information and options.