Saxo Market Call

Today's slide deck: bit.ly/3jCvtpj  -Today we look at a fresh record for US megacaps as the Nasdaq zoomed higher to a new record close even before virus lockdown poster child Zoom Video Communications reported a blowout quarter after the close. Elsewhere, equity action was merely tepid to downright downbeat Down Under. The USD weakened to new lows, helping power precious and industrial metals higher. Today with Peter Garnry on equities, Ole Hansen on commodities and John J. Hardy hosting and on FX.

Today's slide deck: https://bit.ly/3hPxIFm    - Today we look at the implications for value versus growth stocks, particularly if the Fed has so far failed to more forcefully signal its interest in yield curve control after the major Powell speech last week. We also look at the US dollar, individual stock and commodity stories and a busy macro calendar for the week ahead. Today with Ole Hansen on commodities, Peter Garnry on equities and hosting and on FX, John J. Hardy.

Today we look at Fed Chair Powell's speech outlining the Fed's new policy stance and the ensuing market churning and lack of strong conclusions we can draw from the new "flexible average inflation targeting" regime. Elsewhere, JPY on the move early this morning as Japan Prime Minister Abe is set to resign. More equity and commodity topics on the call. Today with Ole Hansen on commodities and John J. Hardy hosting and on FX.

Today's slide deck: bit.ly/2EIY6BN -Yesterday's acceleration in the US megacap stocks on top of an already torrid rally underlined the thesis that we have entered into bubble territory there, a development we slice a few different ways on today's call. Whether today's Powell speech aggravates the parabolic price rally there or reverses it or neither, this event risk is possibly important for the narrative driving this historic market. Elsewhere a look at the reaction potential of other markets over the Powell speech and why energy prices are shrugging off a vicious hurricane strike in the US. Today with Peter Garnry on equities, Ole Hansen on equities and John J. Hardy hosting and on FX.

Today's slide deck: bit.ly/34v90pP -Hurricane Laura in the Gulf of Mexico is set to make landfall tomorrow as a major storm and its track is critical for whether the impact for financial markets is minimal or significant. Elsewhere, treasuries are under pressure ahead of a major Powell speech tomorrow that will almost have to make a significant impact even if the Fed chair delivers the message the consensus expects. Ant Group, Apple and much more on the call. Today with Peter Garnry on equities, Ole Hansen on commodities and hosting, John J. Hardy.

Today's slide deck: bit.ly/3jdmzyk -Today we look at the divergence between choppy action in some of the megacap stocks relative to a risk-on surge in the broader market yesterday, one that finally got Europe on board. We also look at key commodities stories and a scramble of Dow components as Apple's representation in the index is set to drop 75% when the stock splits. The "K-shaped recovery", oil, grains and more on the call as well. Today with Ole Hansen on commodities and John J. Hardy hosting.

Today's slide deck: bit.ly/2QlO9gd -Today we look at the strong equity market narrative versus the alarming lack of market breadth in the US, as the megacap rally continues to diverge from the weaker broader market. Elsewhere, we focus on the interesting week ahead, as the Republican convention gets under way to day and on Thursday, we await Fed Chair Powell's presentation of the Fed's comprehensive policy review. Agricultural markets interesting also heating up. Today with Peter Garnry on equities, Ole Hansen on commodities and John J. Hardy on FX.

Today's slide deck: bit.ly/3l6AUyk -Today we look at the strong comeback in the US megacap companies yesterday after the brief sell-off inspired by the FOMC minutes on Wednesday. Market breadth is looking less healthy, and while the USD sold off again, the move was not yet convincing for the bears as we await the weekly close as a key status check. The macro outlook, Ant Group, and other specific equity stories on the call. Today with Peter Garnry on equities and John J. Hardy on FX.

Today's slide deck: bit.ly/34gVia3 -Today we look at why the markets stumbled on the release of last night's FOMC minutes, which seemed to show lukewarm enthusiasm for yield-curve-control policy. The most interesting reaction may have been in FX, where the USD backed up sharply after the prior tumble. In commodities, copper is gunning at interesting levels. On today's call are Peter Garnry on equities, Ole Hansen on commodities, and John J. Hardy on FX.

Today's slide deck: bit.ly/317g75A -Today we have a look at the ongoing strength in US equities as the S&P 500 cash index finally closed at an all time high, discuss the US stimulus concerns that could be sustained through the election, and look at possible incoming Fed signals and their implication. Peter Garnry looks at interesting single stock stories, particularly Walmart results and Sea Ltd,, and John Hardy looks at the latest dip in the USD and surge in sterling.