Glencore agrees to sell 40% stake on its two African copper and cobalt businesses to a US government-backed group
Washington continues to seek more control over critical minerals. The deal values the 100% of the mines at $9 billion, including debt. $GLEN Source: Javier Blas @JavierBlas
- Bitcoin is now down 41% since hitting $126,200 on the 6th of October.
- 4 consecutive red months is the longest bearish run since 2018. Source: Bitcoin archive
The drawdown in S&P 500 Software stocks is now -25.2% from the high...
That's worse than last year's plunge Source: Kevin Gordon @KevRGordon Bloomberg
Anthropic’s newly launched AI automation tool has set off what analysts are calling a "SaaSpocalypse", rattling global technology markets
Anthropic recently released 11 new plug-ins for its Claude Cowork agent, an agentic, no-code AI assistant designed for enterprise users. The tool is aimed at automating tasks across legal, sales, marketing and data analysis functions Vishwa Sharan @vmsharan_ "Anthropic latest AI tool can automate tasks in legal, sales, marketing, and data analysis. Routine work such as document review, compliance tracking, risk flagging, and data processing. It essentially targets professionals in service automation. Expect reduced demand for consulting engagements, lesser billing hours. IT firms may see slower headcount growth or reductions as AI handles clerical work, shifting focus to higher level AI oversight and innovation" Source: Bloomberg
Nasdaq $QQQ survives the 100-day moving average test again
✅ Absolutely incredible Source: Barchart
Can the 200 days moving average save BTC ???
Source: Trend Spider
Amazing dichotomy between Tech hardware and software stocks over the last year.
Hardware and semis stocks are up the most of any group with average gains of 50%+. Software stocks are down the most of any group with an average decline of 20%+. Source: Bespoke
The semiconductors relative to software performance is getting very very extreme...
Long / short positioning on this pair by hedge funds is also hitting extreme levels Source: RBC, Bloomberg
