Episode Details

US equity futures are modestly higher, Asian markets were mostly lower, while European equities are mixed. Markets remain focused on ongoing rotation dynamics, with continued pressure on momentum and semiconductor trades alongside strength in large-cap tech and select cyclicals. Geopolitics continues to influence sentiment, with US-Iran tensions elevated but expectations still leaning toward eventual diplomatic resolution, keeping risk premia contained. Cooling inflation signals have provided some support to equities, while attention is turning to upcoming US data and policy signals. Investors also await President Trump's address to the nation later today for clarity on both military and policy trajectories.

Companies Mentioned: Uber, Delivery Hero, AtaiBeckley, Eli Lilly, DCC