markets


OpenAI Cuts Spending Plans From $1.4 Trillion To $600 Billion: What It Means For The Capex Cycle

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OpenAI is telling investors that it’s now targeting roughly $600 billion in total compute spend by 2030, months after CEO Sam Altman touted $1.4 trillion in infrastructure commitments.


US stocks gained after Anthropic's presentation soothed some AI-related concerns - Newsquawk Asia-Pac Market Open

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Tech was also supported by Meta agreeing to a USD 60bln chip deal with AMD.

SwissChain's Tokenized Equity Model

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As digital assets evolve from speculative instruments into components of corporate balance sheets, a clear divide has emerged between jurisdictions experimenting with digital-asset policy and those building legally enforceable infrastructure.

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Big-Tech Bounces Back; Bullion & Black Gold Breakdown

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...'wall of gamma' stalls Anthropic Event bounce but "doesn't feel like an especially fun +1% NDX move..."


PayPal Shares Jump Again After "Large Rival" Suitor Revealed As Stripe

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"The deliberations are still early and..." 


Anthropic eases AI disruption concerns as Indices retrace early losses - US Market Wrap

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Anthropic partnerships ease concerns over AI disruption; Trump's 10% global tariff rate takes effect; Iran's Deputy FM says Tehran is ready to take any necessary step to reach a deal with the US; Japan's PM reportedly relays to BoJ reservations about more rate hikes; Trump reportedly considers new national security tariffs after SCOTUS agreement; EU trade official says US have reassured them that they will stand by US-EU trade deal; Soft US 2yr auction; META and AMD announce AI deal; NVO to cut US Wegovy and Ozempic drug prices.


Panama Seizes China-Linked Ports Amid Trump-Beijing Dispute

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"CKH considers the ruling, the executive decree, the purported termination of PPC's concession, and the takeover of the terminals to be unlawful." 


Citadel Macro Guru Outlines The Two Competing Forces Driving The Market

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Taken together, this creates room for repricing…equities can move higher on cyclical momentum, but yields can rise alongside them...


Repricing Scarcity: Goldman Says Seek Respite From AI's Dual Shock In HALO Stocks

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Heavy Assets, Low Obsolescence firms offer a safe-haven in the new 'AI era'...


AI Is An 'Orchestration' Layer, Not 'Displacement': Anthropic Event Leaves Deutsche Doubting Software's Imminent Demise

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...model providers are unlikely to displace software incumbents and are instead positioning themselves and their agents to be an orchestration layer on top of existing and incumbent systems.


The Market's 'Jigsaw Puzzle' Is Particularly Difficult Right Now; Top Goldman Trader

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In an effort to clarify a framework, here’s a check down of the big dynamics in the game...


Home Depot Posts Biggest EPS Beat In 16 Quarters As Big Remodeling Projects Sidelined

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"A small sales miss was expected and instead, we got a beat. This was also the first time they beat operating margins in the last..." 


Yen Tumbles After Japan's PM Voices Concerns About Further Rate Hikes To BOJ

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Japanese Prime Minister Sanae Takaichi expressed reservations about additional interest rate hikes during her meeting with Bank of Japan Governor Kazuo Ueda last week, Mainichi reported.


'Hubris Of Panic': Goldman Delta-One Desk Head 'Besieged With Angry Calls' Over Market Reaction To Claude

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If code can increasingly write itself, barriers to entry in software development collapse and the rent extraction embedded in the SaaS model is structurally challenged...


1, 2, 3, 4, 5 And 5, 4, 3, 2, 1

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Time to start the countdown clocks to tonight's piece of political theater... with what surprises for the viewing audience?


Novo Nordisk Extends Slide After Announcing Price-Cuts For Blockbuster Obesity Drugs

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"I'm confident that payers will accept and welcome these lower list prices, as they've been calling for them publicly." 


"People Doing Some Dumb Things": Dimon Likens Current Private Credit Market To GFC

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"Unfortunately, we did see this in ’05, ’06 and ’07, almost the same thing..."


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Despite Rise In December, US Home Prices Saw Weakest Full-Year Gain Since 2011

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...stable prices and declining mortgage rates means more affordability.


Positive Gamma Evaporates Leaving Stocks With More Downside Risk

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S&P gamma has fallen close to negative, which increases the risk that selloffs are reinforced by dealer selling...


Jittery Futures Erase Gains Amid AI Doomsday Fears

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“Ongoing concerns over AI disruption and the possible exposure to private credit and private equity have made investor sentiment fragile. If we do get an escalation in geopolitical risks, markets may face some wobbles.”


Goldman: "There Is Zero S&P Call Demand On The Trading Floor"

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"over the last month call volumes in mega cap stocks has fallen to levels last seen in 2017...its less fun chasing call options when they stop working and one experiences the true meaning of “theta decay." - Goldman