U.S. Indexes rebounded to start the week as AI concerns eased over the weekend, although breadth was poor outside of AI names. As such, hyperscaler and mega-cap names drove gains within Tech and Consumer Discretionary (AMZN +5%, named a top pick at MS), while Utilities, Real Estate and Financials saw losses (RSP -0.2% vs. SPX +0.6%). In the final hour, Bloomberg reported that Nscale is in talks with Anthropic for a USD 45 billion cloud computing deal, an update that lifted neocloud names, although CoreWeave finished 0.4% lower despite positive sell-side commentary. US yields rose on the gradual recovery of AI growth optimism, further boosted by gains in prompt WTI futures as unconfirmed reports circulated of more Houthi strikes on Saudi Arabia’s oil infrastructure. Short-lived oil downside was seen in response to a Wall Street Journal report that Russian President Putin has proposed a meeting with US President Trump and Chinese President Xi next month to discuss ending the Ukraine war. French Bond Yields traded notably higher, posting one of the largest one-day rises since March 2025, as anti-government civil unrest added to fiscal uncertainty, a drag on both the EUR and bond demand. In FX, the US Dollar performance was mixed as higher US yields saw haven alternatives pressured (CHF, JPY, Gold). The Australian Dollar outperformed on Chinese data overnight (GDP & retail sales beat); while the Canadian Dollar was firmer despite a slightly softer-than-expected inflation report, as Money Markets still favour a Bank of Canada rate hike next week. US data saw the NAHB Housing Market Index fall to 29 from 32, the lowest reading since June 2012, weighed on by declines in current sales conditions, sales expectations and prospective buyer traffic. Elsewhere, both Oil and Gold closed lower by 0.75% and 0.50% respectively.
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For anyone following my Platinum Service it made 310 points yesterday and is now ahead by 3043 points for October after ending September with a nice gain of 7767 points, after ending the month of August with a gain of 2645 points after closing July with a gain of 8031 points, after ending June with a new record of 10527 points after ending May with a loss of 1104 points, having ended April with a gain of 1730 points, after ending March with a massive gain of 9002 points, having closed February with a strong gain of 5482 points after ending January with a gain of 4757 points, having closed December with a gain of 2599 points, after ending the month of November with a gain of 4542 points, after ending October with a nice gain of 5110 points after closing September with a gain of 3774 points while ending August with a gain of 3362 points after closing July with a gain of 3753 points after closing June with a gain of 3530 points, having closed May with a gain of 3606 points, after closing April with a gain of 7685 points after closing March with a gain of 2254 points while closing February with a gain of 4180 points. January ended with a gain of 2768 points while 1997 points were gained in December. October ended with a gain of 2179 points, after closing September with a gain of 4402 points, following a loss of 301 points in August. July gained 1908 points while June saw a gain of 2074 points. The Platinum Service made a previous record 9619 points in October 2022. Since I started this New Platinum Service in June 2015 it has averaged a monthly gain of over 2300 points. I have a YouTube Channel which contains recent interviews I have given This can be viewed by clicking HERE Please subscribe to this for new interview notification
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