Markets were buoyed by solid tech earnings, a positive Trump–Xi meeting, and a wave of AI-related deals last week. Nvidia single-handedly created an entire country’s economy in five days. Outside the tech sector, however, equity performance was more muted. European markets lagged, weighed down by persistent inflation and cautious central bank messaging. Meanwhile, emerging market equities posted their strongest year-to-date rally since the dawn of the internet era.
Joining the show is Markus Wachter from our Technical Analysis team. He shares insights on what seasonality suggests for the remainder of the year, what US equity market internals are signalling, and why copper may be on the verge of a secular breakout.