Saxo Market Call

Today, a thorough rundown of big incoming earnings reports, especially Microsoft (which likely drove much of the volatility in the broader US indices yesterday), but also Meta, Tesla, Apple and others. We also look forward to a busy earnings week next week with two more Mag7 names reporting. Also on today's call, a look at the market reaction to stories that Trump is set to announce today that Kevin Warsh will be nominated as the next Fed Chair and how to position this choice. Today features Saxo Equity Strategists Ruben Dalfovo and is hosted by Saxo Global Head of Macro Strategy John J. Hardy.

Two links discussed on today's pod: one is an appearance by Russell Napier with the Hudson Institute on "Understanding the AI oppportunity" and another is a WSJ exclusive (paywall) on the status of the US Clarity Act, which is a deepening of the regulatory approach to crypto in the US.

For our longer form podcasts, you will also find links discussed on the podcast and a chart-of-the-day over at the John J. Hardy substack.

Read daily in-depth market updates from the Saxo Market Call and the Saxo Strategy Team here.

Please reach out to us at [email protected] 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, much of the AI "pick and shovels" space is aflame on Meta CapEx plans and other announcements after the latter, Tesla and Microsoft all reported earnings yesterday. The average stock had a weak day yesterday, however, even as the S&P 500 touched 7,000 for the first time. Also, a look at the latest chaotic action in gold and silver prices and how the market is becoming increasingly dysfunctional and dangerous. Oil and gas prices, macro and FX and more also on today's pod, which features Saxo Head of Commodity Strategy Ole Hansen and 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 four 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 [email protected] 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, a look at the focus on FX intensifying after Trump comments blasted an already weak US dollar lower still ahead of today's not-so-anticipated FOMC meeting, given that all market focus for the Fed is on the identity of Trump's nominee to replace Powell in May. More on the yen and other currencies. Also on today's pod, US tech stocks attempting a breakout ahead of key Mag7 earnings incoming, what could greenlight a SpaceX IPO, latest on gold and silver and much more. Today's pod hosted by Saxo Global Head of Macro Strategy John J. Hardy.

John's The FX Trader piece from Wednesday, Jan 28.

For our longer form podcasts, you will also find links discussed on the podcast and a chart-of-the-day over at the John J. Hardy substack.

Read daily in-depth market updates from the Saxo Market Call and the Saxo Strategy Team here.

Please reach out to us at [email protected] 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 note the flip in US equity market internals while noting what might be driving it ahead of critical Mag7 earnings and as the Nasdaq 100 once again has rallied to a massive resistance area. As well, Japanese yen volatility is only one focus in currencies as the US dollar is heavily on tilt here, while two-way silver volatility has reached almost absurd levels - is that compressing the timeline to at least a temporary top? 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 four 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 [email protected] 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.

Friday gave us a huge signal that the US may be extending Japan a helping hand in preventing further yen weakness - certainly effective for putting a floor on the JPY price from here on out - but how should we read the US dollar on this apparent move? Elsewhere, US natural gas prices are spiking wildly if only for the front contract on the winter storm there and precious metals prices have extended aggressively once again as silver sliced through 100 dollars an ounce. This and more as earnings season heats up this week. Today's pod features Saxo Head of Commodity Strategy Ole Hansen and is hosted by Saxo Global Head of Macro Strategy John J. Hardy.

For our longer form podcasts, you will also find links discussed on the podcast and a chart-of-the-day over at the John J. Hardy substack.

Read daily in-depth market updates from the Saxo Market Call and the Saxo Strategy Team here.

Please reach out to us at [email protected] 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.