Global equity indices are recovering rapidly from recent sell-offs, putting in their strongest two-day advance in roughly three months. The main positive driver was a steep drop in Brent crude
Global equity indices are recovering rapidly from recent sell-offs, putting in their strongest two-day advance in roughly three months. The main positive driver was a steep drop in Brent crude below $92/bbl. The decline in oil prices was triggered by easing geopolitical tensions after US President Donald Trump said that new strikes on Iran would be unnecessary, a signal investors read as a de-escalation of the conflict.
Cheaper energy eases inflationary pressure, raising hopes that the Fed could pause interest rate hikes. With markets positioned for softer US October CPI, investors are returning to risk assets. Follow the link for more details.
Chipmakers and major tech names experienced a powerful rebound from local lows. Investors quickly bought the dip caused by recent regulatory fears around AI and proposed limits on data-center construction after the US midterm elections. Wall Street's attention has shifted to Anthropic's impending IPO, and the company released updated Mythos and Fable model versions ahead of its listing.
Preliminary market chatter suggests that the IPO could take place as early as November 19-20, and the deal could raise as much as $69.3 billion (against quarterly revenue of roughly $17 billion). Renewed appetite for tech is likely to keep volatility elevated. Follow the link for more details.
Donald Trump issued a severe ultimatum to the head of a major AI company, even threatening prison — rhetoric markets immediately associated with Nvidia CEO Jensen Huang, who has become the center of an international spy scandal. US intelligence agencies are reportedly probing his ties to Alice Huang, founder of Singapore-based Megaspeed International. Megaspeed bought advanced Nvidia chips worth roughly $4.6 billion and reportedly rented compute capacity to Alibaba, actions that could have helped Beijing skirt US export controls.
Following a public admission, Nvidia's board launched an internal emergency review, and House Republicans have summoned the CEO for closed hearings on November 18. Although the company says that there is no public evidence of direct technology leakage, premarket quotes for the chipmaker fell by 3.4% immediately. The unprecedented vulnerability of Nvidia's leadership introduces major risks for the AI industry and raises the potential for a serious diplomatic rift between Washington and Beijing. Follow the link for more details.
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