Bigger Fed cut weighed. Oracle the next company to set the tone in AI.

Today, we look at the fallout from the US jobs report, as bonds rallied and the US dollar sold off, while equities churned in place, with many AI names under pressure. Today's topics also include the latest surge in gold, its drivers and where it may be headed, the turbulence in many AI names, driven in part by OpenAI's new initiatives making waves, previewing Oracle's earnings report tomorrow after the close, the macro and FX fallout from the US jobs data and political uncertainty in Japan and France and more. Today's pod features Saxo Head of Commodity Strategy Ole Hansen and Saxo Equity Strategist Ruben Dalfovo, with Saxo Global Head of Macro Strategy John J. Hardy hosting.

Links discussed on the podcast and our Chart of the Day can be found on the John J. Hardy substack (with a one- to two-hour delay from the time of the podcast release).

Read daily in-depth market updates from the Saxo Market Call and the Saxo Strategy Team here.

Please reach out to us at marketcall@saxobank.com for feedback and questions.

Click here to open an account with Saxo.

Intro and outro music by AShamaluevMusic