It is Thursday the fifth. Good morning. On today's agenda, the tech selloff expands.The shiny stuff slumps again and it's another blockbuster earnings day. Okay, Tom, let's talk about the volatility we're seeing. It continues in some so many asset classes and you wonder whether or not this starts to connect, whether or not the overall volatility story becomes a problem for markets.So it was down 11% completely, reversing some of the positions we saw earlier on in the week as we bounced back. Bitcoin's appro ...

Core Viewpoint - The recent surge in Alphabet's stock is justified by accelerated growth in advertising and cloud services, although the projected capital expenditures (capex) forecast is notably high [1] Group 1: Advertising Growth - Alphabet has experienced significant growth in its advertising segment, contributing to the overall positive market sentiment surrounding the stock [1] - The acceleration in ad revenue is a key driver behind the stock's recent performance, indicating strong demand and effective monetization strategies [1] Group 2: Cloud Services Expansion - The cloud services division has shown robust growth, further supporting the bullish outlook on Alphabet's stock [1] - This growth in cloud services is part of a broader trend within the industry, where companies are increasingly investing in cloud infrastructure [1] Group 3: Capital Expenditure Forecast - The forecast for capital expenditures is exceptionally high, raising eyebrows among analysts and investors [1] - This capex forecast reflects Alphabet's commitment to expanding its infrastructure and capabilities, particularly in cloud and data centers [1]

Core Insights - Alphabet's net income for Q4 2025 reached $34.5 billion, a 30% increase from $26.5 billion in Q4 2024 [1] - The company's total revenue for Q4 2025 was $113.8 billion, up 18% from $96.5 billion in Q4 2024 [1] - For the full year 2025, Alphabet's net income totaled $132.2 billion, marking a 32% increase from $100.1 billion in 2024 [2] Financial Performance - Operating income for Q4 2025 rose to $35.9 billion, reflecting a 16% increase from $31.0 billion in Q4 2024 [1] - The diluted net income per share for Q4 2025 was $2.82, a 31% increase from $2.15 in Q4 2024 [1] - Annual revenue for 2025 was $402.8 billion, a 15% rise from $350 billion in 2024 [2] Segment Results - Google Services generated $95.9 billion in revenue for Q4 2025, a 14% increase from $84.1 billion in Q4 2024 [3] - YouTube's ad revenue in Q4 2025 increased by 9% to $11.4 billion compared to $10.5 billion in Q4 2024 [3] - Google Cloud's revenue surged by 48% to $17.7 billion, driven by demand for AI products [3] Other Bets and Operating Income - Other Bets saw a revenue decline of 8% to $370 million from $400 million in Q4 2024 [4] - Operating income for Google Services was $40.1 billion, a 22% increase from $32.8 billion in Q4 2024 [4] - Google Cloud's operating income rose dramatically by 154% to $5.3 billion from $2.1 billion [4] Annual Highlights - For the full year 2025, Google Services contributed $350 billion to annual revenue, while Google Cloud achieved an annual run rate of $70 billion [5] - YouTube's annual revenue exceeded $60 billion, with over 325 million paid subscriptions [6] - The launch of Gemini 3 was highlighted as a significant milestone contributing to Alphabet's strong momentum [7]

Group 1 - Semiconductor and chip equipment stocks in the U.S. rose in pre-market trading [1] - Alphabet (GOOG.O) indicated that its capital expenditures for 2026 could potentially double [1] - Broadcom (AVGO.O) increased by 5%, while AMD (AMD.O) and NVIDIA (NVDA.O) both rose by over 2% [1]

Core Viewpoint - Semiconductor and chip equipment stocks in the U.S. are experiencing pre-market gains due to Alphabet's announcement that its capital expenditures may double by 2026 [1] Group 1: Company Performance - Alphabet (GOOG.O) indicated a potential doubling of its capital expenditures by 2026, which positively influenced market sentiment [1] - Broadcom (AVGO.O) shares rose by 5% in response to the news [1] - AMD (AMD.O) and NVIDIA (NVDA.O) both saw increases of over 2% [1]

美股半导体和芯片设备股票盘前上涨，因Alphabet(GOOG.O)表示其2026年的资本支出可能翻一番。博 通(AVGO.O)涨5%，AMD(AMD.O)、英伟达(NVDA.O)涨超2%。 来源：滚动播报 ...

In today’s CEO Daily: Diane Brady on the state of moral leadership in business. The big story: Alphabet could double capex spending; investors aren’t enthused. The markets: Mostly down. Plus: All the news and watercooler chat from Fortune. Good morning. Good morning. As someone who has covered CEOs for decades, I think a lot about what makes a good leader, especially in this environment. It comes down to behaviors and practices, not intent. Dov Seidman, founder and chairman of LRN and the HOW Institut ...

Group 1 - The article provides an analysis of the natural gas futures market and the performance of the United States Natural Gas Fund, LP [1] - It highlights recent trends in natural gas prices, indicating fluctuations and their potential impact on investment strategies [1] - The analysis includes data on inventory levels and demand forecasts, which are critical for understanding market dynamics [1] Group 2 - The report discusses the correlation between natural gas futures and broader energy market trends, emphasizing the importance of geopolitical factors [1] - It examines the implications of weather patterns on natural gas consumption and pricing, noting significant seasonal variations [1] - The article also addresses investor sentiment and market speculation, which can influence price movements in the natural gas sector [1]

Core Viewpoint - The content emphasizes the importance of conducting personal due diligence and consulting with competent advisors before making any financial decisions, particularly in the context of investments in complex instruments like cryptocurrencies and CFDs [1]. Group 1 - The website provides general news, personal analysis, and third-party materials intended for educational and research purposes [1]. - It explicitly states that the information should not be interpreted as a recommendation or advice for investment actions [1]. - The accuracy and reliability of the information are not guaranteed, and users are cautioned against relying solely on the content provided [1]. Group 2 - The website includes information about cryptocurrencies, CFDs, and other financial instruments, highlighting their complexity and high risk of losing money [1]. - Users are encouraged to conduct their own research and fully understand the risks involved before investing in any financial instruments [1].

Group 1 - Shares of Volvo Cars fell by 19.5% on Thursday morning, marking the company's worst trading day ever [1] - The decline in stock price is attributed to a significant drop in fourth-quarter profit [1] - Contributing factors to the profit drop include tariffs, currency effects, and weak demand [1]