Public Markets 8-Hour Briefing
×Market Sentiment & Investment Strategies
Dan Loeb says the "lost art of short selling" is making a comeback as opportunities emerge to bet against crowded trades. Boaz Weinstein warns that "wheels are coming off" private credit funds, exposing deeper cracks in the $1.8 trillion industry. Raymond James upgraded Genuine Parts on breakup value, while Morgan Stanley boosted Freshpet on upside from same-day grocery delivery. DA Davidson initiated Rubrik at Buy on an attractive entry point after a pullback, and JPMorgan upgraded Domino's saying steady global growth warrants a higher valuation.
Tech & AI Market Disruption
Software stocks rebounded as Anthropic partnerships eased AI disruption fears, though investors are dumping the sector and earnings won't stop it. San Disk fell 5% after Citron Research's short call, while AMD surged 14% on a Meta AI partnership deal. Arm Holdings saw potential for greater CPU share according to Bof A, and Digital Ocean jumped on an earnings beat and raised outlook. Intuit partnered with Anthropic to bring custom AI agents to businesses, while HSBC noted that software is already eating AI.
Corporate Earnings & Performance
Home Depot reported lower fourth-quarter profit as the home improvement downturn continues, though comparable sales growth topped estimates. Planet Fitness forecasted 9% growth in 2026, beating Q4 estimates but shares still dipped. Medtronic Diabetes Unit Mini Med seeks $784 million in a US IPO, while Singapore Airlines posted record revenue on strong demand but net profit slumped. Roku ended a three-year profit slide with new ad deals and cost cuts.
Fixed Income & Credit Markets
US Banks showed broad gains in key metrics despite a profit dip, with the deposit insurance fund balance continuing to tick higher. Jamie Dimon warned markets resemble the pre-financial crisis era, seeing "a couple of people doing some dumb things." UBS cut Gerreslinger to "sell" slashing the price target to €12.90 on leverage concerns, while Deutsche Bank downgraded Blue Owl on weaker retail credit flows. UBS also cut Elia Group to "neutral" as the share rally priced in regulatory upside.
Macro & Policy Developments
Austan Goolsbee called Powell a "first ballot Hall of Fame Fed Chair" and said the job market and growth are "pretty steady." Hungary cut its key rate and pledged caution with an eye on the forint, while Canada greenlit all Gulfstream jets after Trump threats. Colombia slapped 30% reciprocal tariffs on more than 60 goods from Ecuador, escalating a trade dispute. Mexico mid-month inflation data may keep a March cut in play as headline inflation sped up slightly faster than expected.
Private Markets & Deal Activity
Stripe valuation soared to $159 billion in its latest share sale, allowing the payments company to stay private longer. Brookfield bought chips-for-rent firm Ori, revving up its bet on AI as governments and tech companies need chips for an escalating artificial intelligence race. CECO Environmental nears a $2.2 billion deal for Thermon as the filtration company looks to enter the thermal solutions market amid booming data center demand. Ares Management moved to oust John Textor from running his football empire after continued losses.
International Markets & Commodities
French power prices dropped to their lowest since June as solar generation surged. US natural gas fell in thin trading as forecasts shifted warmer, indicating lower demand for heating and power-plant fuel. Soybeans nudged further down from a three-month high in Chicago as USDA data signaled weaker demand for American exports. Russian crude shipments scraped a gain to offset pipeline losses as increases in seaborne flows made up for lost piped volumes to Hungary and Slovakia.
Market Rotation & Valuations
Cheap stocks are hard to find as investors rotate out of US equities, with attractive valuations in Europe and Japan fast disappearing. Old-economy stocks are looking pretty good right about now as a basket of capital-intensive stocks rallies while investors flee AI disruption. Goldman says markets are rewarding "heavy asset, low obsolescence" firms, while asset-heavy stocks outperform on AI fears according to their analysis. Bof A lists four reasons to ride the Korean bull market in 2026 as China becomes more attractive with rising inflows.