Podcast: It’s been a narrow US equity market rally. Tesla is on tap

Podcast 20 minutes to read
Saxo Market Call

Summary:  Today we discuss the US market continuing to hold its breath ahead of key cycle resistance as European equities are also near all-time highs, at least in the EuroStoxx50. It's important to note that the US market rally has been driven by a short list of megacap names. Elsewhere, we round up Netflix and ASML and preview Tesla's earnings report after the close, and many US regional banks will be reporting in coming days, particularly tomorrow, so we should have a broad picture of the state of play for US bank stress by Friday. In commodities, we look at crude oil and natural gas, noting ETF flows that suggest investors are reducing exposure to oil upside. Today's pod features Peter Garnry on equities, Ole Hansen on commodities and John J. Hardy hosting and on FX.


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