Davide Marcotti @Dafne17: "🔔🔔🔔 Market Bell, see you..."

United Arab Emirates

🔔🔔🔔 Market Bell, see you tomorrow! 🔔🔔🔔 The Market Bell complements the morning market movers and focus specifically on our portfolio. Tech took another beating today. 𝗪𝗵𝗮𝘁 𝗺𝗼𝘃𝗲𝗱 𝘁𝗼𝗱𝗮𝘆: 🔴 $NSDQ100 -1.47% Chip stocks led the selloff after TSMC raised capital spending guidance to $60-64 billion, up from $52-56 billion. Investors are questioning whether the AI infrastructure buildout is sustainable at current spending levels. 🔴 $SPX500 -0.51% A selloff in chip stocks overshadowed solid earnings reports across other sectors. Skepticism that AI hyperscalers could slow infrastructure spending hit semiconductors hard, alongside Korea prohibiting leveraged ETFs and signals of more efficient machines from ASML. 🔴 $GOLD -1.53% Higher energy prices strengthened expectations the Federal Reserve may keep monetary policy tighter for longer, reducing the appeal of non-yielding gold. Rising oil prices cast doubt over whether the recent disinflation trend can continue. 🔴 $OIL -1.53% Oil reversed earlier gains despite ongoing U.S.-Iran military tensions. The U.S. intensified strikes on Iran hitting targets farther north, and Iran retaliated with missile and drone attacks targeting U.S. allies in the region, threatening to push the region back toward wider conflict. 🟠 Russell 2000 -0.18% Small caps held relatively steady compared to tech-heavy indices. Pockets of strength in certain large caps helped limit the damage. 📌 𝗪𝗵𝗮𝘁 𝗶𝘁 𝗺𝗲𝗮𝗻𝘀 𝗳𝗼𝗿 𝗼𝘂𝗿 𝗽𝗼𝗿𝘁𝗳𝗼𝗹𝗶𝗼 🔴 $NVDA (NVIDIA Corporation) -2.40% NVIDIA was our second-biggest drag today and it's our biggest position overall. The weakness followed TSMC's increased spending forecast, which overshadowed a better-than-expected second-quarter report. The long-term AI buildout hasn't changed, but the market is taking a breather on valuations. 🔴 HYPE -6.66% Hyperliquid had a rough day but it's a small position, so the portfolio impact was contained. Macro conditions are adding friction, with Bitcoin ETFs posting heavy June outflows and sentiment sitting in Extreme Fear. The protocol's buyback engine remains intact, and the long-term DeFi perps thesis hasn't cracked. 🔴 AMD -5.33% AMD fell harder than most chips. Investors are questioning whether the AI infrastructure buildout is sustainable, and macroeconomic indicators suggest potential softening in enterprise spending, which directly impacts demand for high-performance computing hardware. Still, this is a small holding. 🔴 GOOG -4.43% Google was weak alongside Meta. Large investors are quietly rotating between the Mag 7 names, with concerns that Meta is spending record sums on AI with no clear way to earn that money back, unlike Google. Short-term rotation, not a structural break. 🔴 META -2.46% Meta underperformed most Mag 7 names. The AI spending narrative is weighing more heavily here than at peers with clearer monetization paths. Another small position, so limited impact. One day doesn't make the decade. We stay focused. "Rule No. 1: never lose money. Rule No. 2: never forget Rule No. 1." - Warren Buffett

Not investment advice. The author may have financial interests in the mentioned instruments.