Public Markets 8-Hour Briefing
×Commodities & Energy
Oil steadied before nuclear talks between the US and Iran as Middle East tensions prompted some producers to increase exports. Saudi Arabia and Iran are both accelerating oil exports, adding barrels to global markets amid US military deployment in the region.
Technology & AI
Nvidia beat back bubble fears with record $68 billion in fourth-quarter sales, citing agentic AI as the driver of a 94% profit surge. The tech giant's guidance suggests the AI boom remains robust, with Snowflake also reporting a 30% revenue jump on cloud and AI demand. Despite AI disruption concerns, Sequoia Capital's Alfred Lin believes software companies will survive the current wave.
Corporate Developments
Core Lithium sold a stockpile of ore from its idled Finniss mine in Australia to Glencore, raising cash to support a potential restart. Allianz plans to buy back as much as €2.5 billion in shares as CEO Oliver Baete returns excess cash to investors. Meanwhile, Blue Scope Steel deemed a revised bid from Steel Dynamics and SGH inadequate but remains open to a better offer.
Market Analysis & Policy
Federal Reserve Bank of St. Louis President Alberto Musalem says the Fed rate is near neutral with balanced risks, noting the labor market has cooled but is stabilizing. Traders have boosted bearish wagers on the yuan to the highest since April, looking to protect against downside risks. The US corporate bond market is experiencing the most competitive conditions on record, spurring more secondary market trading according to Barclays.
Data Centers & Infrastructure
US data center construction fell for the first time since 2020 despite soaring AI demand, as developers face permitting and power delays. EQT's Jan Vesely forecasts data center deals will top $100 billion, with AI infrastructure requiring more than $3 trillion in investment. In contrast, ByteDance's valuation surged to $550 billion in a recent stake sale.