Euro bulls defy French chaos, Oil bears defy OPEC [Video]

Ipek Ozkardeskaya Swissquote Bank Ltd

The French government just collapsed, but the euro gains. The Federal Reserve (Fed) Chair Jerome Powell said that the US economy is in a remarkably good shape, but the US dollar retreats, and OPEC is preparing to delay its production restoration plans today, but oil bears remain in charge.

Away from these problems, the S&P500 just printed its 56th record high this year and Nasdaq 100 jumped to a fresh ATH. Amazon advanced to a fresh record as news that Amazon is building a supercomputer powered by hundreds of thousands of its own Trainium chips to train Anthropic AI models wet investors’ appetite. The move could help Amazon cut reliance on pricey Nvidia chips and do the same for its Big Tech buddies. The rumour has it, Apple is on board as a customer. Do Nvidia investors worry about it? Not for now. The shares jumped 3.5% yesterday to past $145 per share. But it’s worth keeping an eye on this space because the Big Tech stood for half – yes half – of Nvidia’s revenue last quarter and their ambition to build their own chips is one of the major risks to Nvidia’s revenue growth.

Author

Ipek Ozkardeskaya

Swissquote Bank Ltd

Ipek Ozkardeskaya began her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked in HSBC Private Bank in Geneva in relation to high and ultra-high-net-worth clients.

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