Bulls vs Bears – EP51 US rally broadens as MAG7 slips
Update: 2025-01-17
Description
Market Trends
- Investor focus shifting from “Magnificent 7” tech stocks to cyclical sectors
- Nasdaq struggling while Dow Jones Industrial Average shows resilience
Rio Tinto & Glencore Merger Talks
Potential merger discussions underway, driven by growing copper demand for decarbonization.
US Earnings Highlights
- Bank of America: Q4 revenue $25.3 billion, EPS $0.82
- Goldman Sachs: Revenue $13.52 billion, EPS $11.95
- TSMC: Growth driven by 3nm chips and AI-related orders
Global Political Developments
- Potential Gaza ceasefire mediated by US and Qatar
- Rising concerns over US-Canada trade relations and potential tariffs
Commodities and FX
- Gold approaching record highs at $2,785
- Silver nearing $31, with potential to reach $32
- Copper up 11% year-to-date, indicating opportunities in related stocks
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