Markets 8-Hour Briefing
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Public Markets Briefing
Market Performance
US stock futures creep higher after bruising losses on tariff concerns and AI jitters. The broader market slipped as software weakness and tariff risks weighed on sentiment. Asian shares mostly bucked the US selloff sparked by anxiety over AI's impact on company profits. Woodside shares hit an 18-month high after FY results and dividend announcement, while UOB shares retreated on profit and dividend declines.
Currency & Commodities
Most Asian currencies weakened slightly against the dollar amid lingering US-Iran tensions. India's central bank is likely to start buying dollars once the rupee strengthens to around 88-89 per dollar. Oil edged lower amid possible position adjustments before looming US-Iran talks, then steadied as Trump reiterated preference for a deal with Iran. Gold held four-day gains on tariff uncertainty and Middle East tensions.
Policy & Regulation
Hong Kong is near the end of its budget deficit era but caution prevails. President Trump is exploring options to rebuild his tariff wall after the Supreme Court ruled against his emergency tariffs. The Federal Reserve unveiled a new proposal targeting how examiners scrutinize banks' risk. Nevada Attorney General stated that Trump overstepped his authority on tariffs.
Sector Focus
DeepSeek trained its latest AI model on Nvidia Blackwell chips despite US ban concerns. JPMorgan Chase CEO Jamie Dimon sees parallels to pre-crisis era as rivals do "dumb things," while dismissing fears over AI's impact on his bank. IBM stock tumbled 10% after Anthropic launched COBOL AI tool. Option traders are piling into bets against software-exposed loan ETFs.
Investment Products
Coinbase stablecoin revenue is poised for up to sevenfold surge according to Bloomberg Intelligence. A new GENIUS ETF saw massive $17 billion inflow. Active and value strategies are outperforming according to Chris Davis. Private equity returns have slumped for a fourth straight year as the industry sits on $3.8 trillion of unsold assets.
Private Equity
AI Insight
Thoma Bravo highlights AI disruption in a recent summit.
Deal Update
One Magnify acquires Optimal’s performance marketing arm.
Sector Investment
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