Latest / MPC Markets Morning Call
Investors Finally Wake up to Mounting Risks
Investors finally woke up to the risks we've been warning about. The Nasdaq fell 2.2% as Alphabet reported its first-ever negative free cash flow and Tesla dropped 14% on weak margins. Brent crude topped $100 after Houthi strikes on Saudi tankers closed the Bab el-Mandeb strait, sending yields to 18-month highs and Fed hike odds surging to 35%. Trump announced new forced-labour tariffs — Australia copping 12.5%. Intel was the lone bright spot, surging 9% after hours on a data centre beat, while Lockheed Martin (+10.5%) and RTX (+7.3%) rallied on raised guidance. We break down what it all…
The skinny
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