Public Markets 8-Hour Briefing
×Market Moves
John Lewis has abandoned plans to build 10,000 homes, citing economic headwinds and a property market slowdown. German lawmakers imposed a €1 billion cap on kamikaze drone deals, dealing a blow to government plans for unmanned weapons backed by Peter Thiel and Daniel Ek.
Earnings & Analyst Updates
UBS upgraded IBM after a 22% slide, citing a valuation reset. JPMorgan and Bank of America are urging clients to buy Venezuelan bonds with large piles of unpaid interest, betting on potential outperformance. Amazon is being defended at Bank of America as catalysts are expected to support AWS sentiment.
Energy & Commodities
North Sea crude is flashing weakness as heavy buying from Vitol Group and Total Energies subsides. Saudi Arabia is on course to ship the most oil from its ports in almost three years, bringing supply to the global market amid US-Iran tensions. OPEC+ delegates expect the group to resume modest supply hikes when it meets this weekend.
Tech & AI
Fears over AI disruption are creeping into private markets, pressuring valuations. Ardian will avoid certain software investments as the sector grapples with AI challenges. Citigroup has formed a group focused on the artificial intelligence infrastructure boom. UBS Wealth CIO says investors should shift from technology to companies in the physical world like miners and power producers.
Corporate News
David Tepper is calling for sweeping changes at Whirlpool, accusing the appliance maker of destroying shareholder value. TJX Cos. posted higher profit and sales in Q4 but guided for slower growth. Lowe's reported higher Q4 sales but issued an underwhelming forecast amid a pressured housing market. Bloomin' Brands said turnaround efforts are starting to pay off after Outback Steakhouse reported positive traffic for the first time in four years.
Debt & Capital Markets
Colombia is preparing to shift billions in private pension savings to its public retirement system to ease a funding shortfall. Romania is tapping international debt markets for the first time this year after pushing through budget reforms. Omnicom Group is selling bonds in Europe and the US for the first time since 2024.