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Final thought: markets are showing early signs of returning to normal, rates back in focus, macro starting to matter again. But watch US inflation. If the SOFR curve gets above 50bps before March next year, the USD could rally materially. 📈 CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78.48% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Opinions shared are not investment advice. This material is intended for informational purposes only.

📅 UK data next, watch closely. Bad numbers = bad news for GBP. ├ Claimant Count ├ CPI └ Services PMI

Yesterday was a strange day. EURxxx sold off, two rumours drove it. 1️⃣ ECB June hike being priced as a policy error 2️⃣ Yankee bonds issued by European corporates → USD demand → EUR/USD lower 👉 Track Euro / US Dollar CFD: bit.ly/49r4usY Here's what it all means. 👇 @AdamisPrinciple

💥 Cisco surged +19.8% after hours on a blowout beat. Nebius reported 680% revenue growth. Ford jumped +13.2%. Apple hit $300. Wednesday had something for everyone. Nvidia gained +2.3% after CEO Jensen Huang was invited to fly to China with President Trump — a headline that lifted the broader semi complex: Micron +4.8%, Marvell Technology +8.2%, ON Semiconductor +11.1%, Coherent +7.9%, Lumentum +3.8%, Corning +4.2%. AMD slipped -0.6% on a Daiwa downgrade tied to valuation. Apple touched $300 per share for the first time ever, gaining +1.4%. Tesla added +2.7% as EV names broadly climbed — Nio surged +7.6% on battery swap news, Lucid +6.3% on ownership disclosures. Ford soared +13.2% on optimism over its energy storage business. AI cloud company Nebius jumped +15.7% after reporting revenue growth of more than 680% y/y. Akamai gained +7.7% on a BoA upgrade. Johnson & Johnson rose +2.8% on a Leerink upgrade. EchoStar +3% after FCC approved its $40bn spectrum sale to AT&T and SpaceX. Birkenstock cratered -12.9% on an earnings and revenue miss. Meme stocks: Kohl's -5.1%, GoPro -3.1%, Opendoor -2.8%, Nokia +11.7% Crypto stocks: Coinbase -2.8%, MicroStrategy -3.5%, Mara Holdings +0.2%, Gemini Space Station -2.8%, Bullish -2.3%, Circle Internet Group +2.4% 💬 Apple at $300, Cisco +20% after hours, Ford +13% — which move surprised you most? 👇 🔍 Cisco → trading.capital.com/4tzIy6o

The runaway freight train that is US tech kept powering higher overnight, pulling Wall Street to fresh record highs. The move could be said to be a bit long in the tooth and losing momentum in the short-term. However, with the AI trade and the prospect of strong tech earnings all the rage again, investors want themselves a slice of the pie. Easing geopolitical risk is supporting the market. US President Trump begins his visit to China as focus shifts from geopolitics to trade. The vacuum that has been created has allowed the markets to drift higher as the inertia from a remarkable US earnings season propels equities higher. There are still risks on the horizon when it comes to US and Iran tensions. Peace talks are tenuous and the Strait of Hormuz is still closed, choking global energy markets. However, with President Trump in China, it’s unlikely the US will escalate the conflict while conducting a state visit with one of its adversaries' allies. Equally, Iran will be conscious of aggravating its key ally during such a high-stakes period for US-China relations. The Teflon market lived up to its status again last night as producer price data came in much spicier than expected. Annual PPI rose 6% last month, far exceeding expectations of 4.8%. The components that feed into the PCE Index - the Fed's preferred inflation gauge - were admittedly reasonably well behaved. However, the data continues to add to the case—which equity prices are either ignoring or simply taking in stride—that the Fed could hike rates before the end of the year. Currently, the Fed Fund Futures curve implies a nearly 40% chance of a hike. The focus on the Fed's path forward is sharpened following Kevin Warsh's confirmation as Fed Chairperson overnight. Will he be the sort of dove that ostensibly landed him Trump's nomination for Chair, or will he revert to his old hawkish self? By Kyle Rodda, Senior Financial Market Analyst at Capital.com CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78.48% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Bottom line is: 📍 ~$301.20 — equidistant, 7% either way ⬇️ Heavy tone → $280.07 retest probable first ❌ Close below $280.07 → structurally bearish ✅ Close above $322.50 → lower highs broken, ATH squeeze Until one of those closes, it's all range trading. Watch the close. Not the noise. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78.48% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Opinions shared are not investment advice. This material is intended for informational purposes only.

🟡 Scenario 1 — Neutral. JPM holds inside $280.07–$322.50. → 7% tradeable move available in either direction at the extremes. → Moves within the range = no bigger-picture signal. Heavy tone points toward $280.07 retest first. 🔴 Scenario 2 — Bearish. Sustained close below $280.07. ⚠️ → Range structure invalidated → Feb 2025 ATH support broken → Open gaps attract price: $253s, $236s, $229s → Potential to unwind entire advance to April 2025 lows 🟢 Scenario 3 — Bullish. Sustained close above $322.50. → Series of lower highs broken → Short-covering squeeze toward $337.25 ATH → Sustained ATH break activates $369.18 Fibonacci extension

🗓️ JPM filled the April 8 gap. Now sitting almost exactly equidistant between the two range boundaries. ~7% to the upside. ~7% to the downside. That symmetry won't last. The technical tone is heavy. 👉 Explore JPMorgan American Investment PLC: bit.ly/4d9P9PT Here's the full framework. 👇 @50Pips

📰 The US cleared Nvidia H200 chip sales to 10 Chinese customers on summit day. Jensen Huang joined Trump's Beijing delegation and publicly endorsed the effort. China had been largely written out of Nvidia's revenue model. Any partial restoration at H200 spec is directly additive to earnings estimates. TSMC targeting $1.5 trillion in chip revenue by 2030. SK Hynix near $1 trillion market cap. How much of the China demand catalyst is already priced? 👉 Track Nvidia at bit.ly/3OjsIhq CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78.48% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

📰 Kevin Warsh confirmed as Fed chair. 🏦 He inherits the role as CPI beats, the dollar firms, and Treasury yields push higher. 🏦 More hawkish than the outgoing consensus. Faster balance sheet reduction. Less patience on inflation. 🏦 Goldman sees no cut until December 2026. Warsh may push that further. 👉 Explore the US Dollar Index at bit.ly/41txf48 CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78.48% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

📈Hot US CPI. Yields higher. Rate cuts off the table. Dollar firmed. 🔸S&P 500 and Nasdaq still hit record highs on AI chip strength. 🔸 Cerebras raised $5.55bn in the biggest pure-play AI compute IPO. 🔸 SK Hynix near $1 trillion. 🔸 TSMC targeting $1.5 trillion chip revenue by 2030. The AI bid is now carrying the entire equity market through a hawkish macro backdrop. 👉 Track the S&P 500 at bit.ly/47W3c8I What breaks this trade first? CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78.48% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.