Markets

In this week’s podcast, Nucleus Wealth’s Chief Investment Officer, Damien Klassen, explores why corporate earnings have remained surprisingly resilient—from pricing power and higher-margin business models to cost discipline and selective AI-driven productivity—and tests how long those supports can hold as wage growth, refinancing costs, and capex pressures build.

The ferrous complex is struggling to keep its head above water as steel production remains too high, inventories are bulging, and prices keep falling.

The Market Ear on weird everywhere.

The Market Ear melts up.

The Market Ear wraps us up. Welcome to extreme fear The problem is we have not seen CNN’s greed/fear index hit extreme fear territory and SPX this close to ATHs (chart 2).

The Market Ear with more.

For the life of me, I don’t know why anybody wants to be long iron ore here but hey, that’s how markets work sometimes.

The biggest problem is the systemic long.

The Market Ear has more.

Buy the dip or sell the rip?

The global stock market looks stretched at first glance—but the story is more nuanced once you dig beneath the surface.

From the Market Ear: Here we go SPX trading below trend channel lows for the first time since the latest bull started. Note we are below the 21 day. 50 day comes in at 6600 (futures).

The Trump Always Chickens Out (TACO) trade is on this morning after some mollifying words overnight.

Charlie McElligott at Nomura nicely illustrates that air needs to come out of the bubble before it can inflate further. — 1. Prolific Equities “Vol Supply” (Structured Notes / Exo issuance ATHs, Overwrite / Underwrite Premium Income AUM to ATHs, QIS VRP product growth, Vol pods / Dispersion –trade crowding)\ 2.

The ferrous complex popped at the end of Golden Week yesterday.

The greenback is ripping.

The Market Ear on the bubble.

The ferrous complex remains paralysed by too much versus too much hope.

From the Market Ear: Losing momentum?

From the Market Ear: Kamikaze The Japanese 30 year has risen sharply over the past few years.

Perfection prevails NDX continues trading inside the perfect trend channel that has been in place since May.

The Market Ear on a bull gone mad.

In this week’s podcast, we are unpacking today’s stretched market valuations—why they’re really concentrated in just a handful of the largest stocks, why small and mid-sized companies may actually be trading below average, and how investors should think about growth versus price.