Moving Markets

Markets were mixed yesterday, with European shares dragged down by weak results from Adyen, Magnum and Mercedes-Benz, despite solid updates from Siemens and Hermès. Schroders jumped on a takeover approach from Nuveen. In the US, deepening concerns over AI‑driven disruption hit tech stocks hard, pushing the ‘Magnificent Seven’ lower and marking Apple’s worst day since Liberation Day. Gold and silver slipped on stronger US labour data, oil fell on rising supply signals, and US housing data highlighted growing structural weakness. We’re joined by Tim Gagie, Head of FX Advisory in Geneva, for the latest on metals and currencies ahead of key US inflation data.

(00:00) - Introduction: Helen Freer, Product & Investment Content

(00:31) - Markets wrap-up: Lucija Caculovic, Product & Investment Content

(06:45) - FX & metals update: Tim Gagie, Head of FX/PM PB Geneva

(10:59) - Closing remarks: Helen Freer, Product & Investment Content

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A surprisingly strong US jobs report sent yields higher – most notably at the short end of the curve – and weighed on equity index performance. Market expectations have now shifted, with traders anticipating that the Federal Reserve will hold off on further rate cuts until July. Meanwhile, European equities climbed to fresh highs on the back of robust earnings. In today’s episode, Manuel Villegas from Next Generation Research joins us to share his detailed perspective on how investors should navigate the current landscape in cloud computing and artificial intelligence.

(00:00) - Introduction: Helen Freer, Product & Investment Content

(00:31) - Markets wrap-up: Roman Canziani, Head of Product & Investment Content

(06:01) - Cloud Computing & AI: Manuel Villegas, Next Generation Research

(13:03) - Closing remarks: Helen Freer, Product & Investment Content

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Rising concerns about who will be disrupted next by rapid advances in artificial intelligence continue to weigh on parts of the markets. Investors are caught between solid corporate earnings and concerns about the strength of the US economy as consumer spending has finally caught up with consumer sentiment, and not in a good way. Investors’ focus will remain on US data this week. Afonso Borges from Fixed Income Research talks about which data releases he will be watching closely. A fast, lively breakdown of what’s moving markets — tune in!

(00:00) - Introduction: Helen Freer, Product & Investment Content

(00:27) - Markets wrap-up: Jan Bopp, Product & Investment Content

(06:09) - Bond market update: Afonso Borges, Fixed Income Research

(11:00) - Closing remarks: Helen Freer, Product & Investment Content

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US stocks rose, with the S&P 500 near a record, led by technology and AI on renewed OpenAI momentum. Alphabet’s USD bond sale drew over USD 100 billion in demand, allowing it to raise USD 20 billion and tighten pricing on its 40‑year bond. The USD weakened on reports that China’s banks are advised to cut their US Treasury holdings. Europe closed higher on strong gains from UniCredit and Novo Nordisk, while Asia followed Wall Street, with regional technology at new highs and Japan hitting another record. Carsten Menke, Head of Next Generation Research, discusses the precious metals market after its record surge and subsequent pullback.

(00:00) - Introduction: Bernadette Anderko, Product & Investment Content

(00:34) - Markets wrap-up: Mike Rauber, Product & Investment Content

(05:48) - Latest news on precious metals: Carsten Menke, Head of Next Generation Research

(09:22) - Closing remarks: Bernadette Anderko, Product & Investment Content

Would you like to support this show? Please leave us a review and star rating on Apple Podcasts, Spotify or wherever you get your podcasts.

Japan’s Prime Minister Takaichi captured a historic supermajority for her Liberal Democratic Party in yesterday’s election, meaning the LDP holds two-thirds or more seats in the Lower House, and giving her the scope to pursue her fiscal agenda. The Nikkei 225 rallied 5.5% today, crossing the 57,000 threshold for the first time. Other Asian markets rallied this morning following the recovery in the US indices on Friday. Nevertheless, last week marked a rotation out of Big Tech and into smaller companies and dividend growth stocks. Gold is back up above USD 5,000 after whipsawing last week. Louis Chua, Equity Research Asia, joins the podcast today to talk about the likely impact of the Takaichi victory on Japan’s financial markets, and Mensur Pocinci, Head of Technical Analysis, provides his analysis of the moves in the IT sector and what the charts suggest might lie ahead.

(00:00) - Introduction: Helen Freer, Product & Investment Content

(01:14) - Markets wrap-up: Bernadette Anderko, Product & Investment Content

(06:47) - Japan elections: Louis Chua, Equity Research Asia

(11:56) - Technical Analysis update: Mensur Pocinci, Head of Technical Analysis

(14:20) - Closing remarks: Helen Freer, Product & Investment Content

Would you like to support this show? Please leave us a review and star rating on Apple Podcasts, Spotify or wherever you get your podcasts.