Michael Hewson and Michael Brown from Pepperstone discuss the current state of the markets, focusing on economic indicators, corporate earnings, and consumer behaviour. They analyse the impact of US-China trade relations, bond market volatility, and the performance of various sectors, including retail and technology. The conversation highlights the challenges faced by companies like JD Sports, Lloyds Banking Group, EasyJet, Tesla, Microsoft, and Meta, providing insights into their financial health and future prospects.

Chapters

00:00 Market Reactions and Economic Indicators

20:51 Earnings Season Insights

30:42 Retail Sector Performance and Challenges

31:13 Federal Reserve's Monetary Policy Outlook

35:04 Political Pressures and the Fed's Dilemma

36:15 Lloyds Banking Group: Performance and Prospects

39:21 EasyJet: Navigating Post-Pandemic Challenges

44:21 Tech Giants: Tesla, Microsoft, and Meta's Market Dynamics

55:37 Apple's Innovation Dilemma and Market Position

Michael Hewson and Michael Brown from Pepperstone delve into the current state of financial markets, focusing on geopolitical tensions, particularly the U.S. administration's stance on Venezuela and Greenland. They discuss the implications of recent Department of Justice subpoenas directed at the Federal Reserve and how these developments are affecting market sentiment. Despite the political turmoil, markets appear resilient, with the FTSE 100 reaching record highs and the S&P showing signs of recovery. The hosts also address listener feedback regarding their previous claims about U.S. oil dependency on Venezuela, emphasizing the complexities of the oil market and the geopolitical motivations behind U.S. actions.

The conversation shifts to the performance of various sectors, including UK markets, where the hosts analyze recent GDP data and corporate earnings reports from companies like Whitbread and Persimmon. They highlight the mixed signals from the labor market, particularly in the recruitment sector, and discuss the potential impact of upcoming economic data releases on monetary policy. The episode wraps up with a preview of next week's earnings reports, including Netflix, and the anticipated market reactions to these developments.

Chapters

00:00 Introduction and Overview

02:13 Geopolitical Tensions and Oil Markets

11:44 Trump's Influence on the Federal Reserve

20:51 Economic Data Insights

22:13 Tech Companies and AI Innovation

26:46 U.K. Market Analysis and Construction Challenges

33:46 Construction Sector Resilience

36:49 Retail Performance Insights

39:37 Labor Market Challenges

42:54 US Banks and Credit Card Interest Rates

47:17 Upcoming Economic Indicators and Earnings Reports

As the momentum from 2025, carries over into 2026, Michael Brown (Senior Market Strategist from Pepperstone) and Michael Hewson discuss whether the FTSE100 and other markets can continue recent positive momentum at a time when geopolitical noise around US foreign policy dominates. They also look at this week’s numbers from Next, Tesco and Sainsbury and look ahead to US bank earnings.

In this year-end podcast, Michael Hewson and Michael Brown from Pepperstone reflect on the financial markets over the past year, discussing key economic data, market drivers, and the performance of various sectors. They analyse the implications of US inflation trends, UK economic challenges, and the performance of the FTSE 100. The conversation also touches on corporate investment trends, particularly in the retail and defence sectors, and concludes with insights into BP's leadership change and predictions for the upcoming year.

Chapters

00:00 Introduction and Year-End Reflections

02:05 Market Drivers and Economic Data Overview

05:02 US Economic Indicators and Federal Reserve Outlook

09:27 UK Economic Challenges and Bank of England Decisions

12:33 Political Influence on Monetary Policy

14:35 FTSE 100 Performance and Economic Context

17:46 Global Market Comparisons and Future Outlook

24:53 Market Reactions and Guidance Clarity

26:22 Defense Sector Dynamics and Investment Trends

28:40 Debt Markets and Economic Outlook

31:21 Banking Sector Performance and Risks

35:09 Retail Sector Insights and Consumer Behavior

39:10 Investment Climate and Corporate Decisions

41:03 Leadership Changes in Major Corporations

In this penultimate podcast of 2025 Michael Brown (Senior Market Strategist from Pepperstone) and Michael Hewson discuss the latest Fed decision to cut rates, as well as looking ahead to next week’s rate decisions from the Bank of England and Bank of Japan respectively, discussing the risks to global bond markets in 2026 of a more hawkish BOJ. We also look ahead to the latest numbers from Nike, FedEx and Currys.

In this podcast episode, Michael Hewson and Michael Brown discuss the current state of the markets as they approach year-end, focusing on key economic indicators, upcoming Fed meetings, and significant corporate developments. They analyse the implications of the dollar's weakness, M&A activities like Netflix's potential acquisition of Warner Brothers, and Unilever's spin-off of its Magnum Ice Cream brand. The conversation also covers the UK economy's performance, PMI data, and the retail sector's outlook as Christmas approaches. Additionally, they delve into the financial results of companies like Mitchell & Butler, Balfour Beatty, and Broadcom, highlighting trends in the defence and semiconductor industries.

In this week’s Good Money Guide podcast Michael Brown (Senior Market Strategist from Pepperstone) and Michael Hewson discuss this week’s buy now, pay later Klarna budget statement, and whether it makes a December rate cut more or less likely. They also look at the latest results from easyJet and Kingfisher and look ahead to numbers from Balfour Beatty and Frasers Group.

In this week’s podcast Michael Brown (Senior Market Strategist from Pepperstone) and Michael Hewson discuss this week’s UK CPI data and whether it makes a December rate cut more or less likely. They also look at the latest Q3 numbers from Nvidia as well as looking ahead to next week’s budget.

In this week’s podcast Michael Brown (Senior Market Strategist from Pepperstone) and Michael Hewson discuss this week’s disappointing UK economic data, and what it means for another rate cut. They also look at this week’s numbers from Vodafone and Rolls-Royce as well as looking ahead to next week’s UK CPI numbers and earnings from Nvidia and Walmart.

In this week’s podcast Michael Brown (Senior Market Strategist from Pepperstone) and Michael Hewson discuss the latest Bank of England rate decision, as well as a host of retail earnings from Sainsbury, M&S and ABF, as well as recent ITV bid speculation. They also look ahead to next weeks UK Q3 GDP and Rolls-Royce earnings.