Core Viewpoint - Over the past few months, shares of hyperscalers, a select group of Big Tech companies, have transitioned from being market leaders to market laggards [1] Group 1 - The performance of hyperscalers has significantly declined in the market [1]

Core Insights - Jeremy Szafron has joined Kitco News as an anchor and producer, bringing a wealth of experience in journalism, particularly in finance and current affairs [1][5] Background and Experience - Jeremy began his journalism career in 2006 at CTV, where he initially reported on entertainment before transitioning to business reporting, focusing on mining and small-cap companies [2] - He gained recognition for his macro-financial and market trends analysis, becoming a sought-after commentator on CTV Morning Live and a regular on CTV News Network [2] - A significant highlight of his career was covering the 2010 Vancouver Olympic Games, which led to the development of an online video news program for PressReader, a digital newsstand with 8,000 editions in 60 languages [3] Digital Media Ventures - In 2012, Jeremy launched The Green Scene Podcast, which quickly attracted over 400,000 subscribers and positioned him as a prominent voice in the cannabis industry [4] - Following this success, he established Investor Scene and Initiate Research, platforms that provide exclusive market insights and deal-flow opportunities in mining and Canadian small-cap sectors [4] Professional Roles - Jeremy has served as a market strategist and investor relations consultant for various publicly traded companies across mining, energy, consumer packaged goods (CPG), and technology industries [5] - He holds a BA in Journalism from Concordia University, which has supported his diverse career trajectory [5]

Core Viewpoint - The Procter & Gamble Company (PG) is considered to have iconic brands, but the current trading levels do not present much value for investment, as it is trading around fair value [1] Group 1: Company Overview - Procter & Gamble holds some of the most iconic brands globally [1] - The company is currently trading around its fair value, indicating limited investment appeal at present levels [1] Group 2: Analyst Background - The analyst has over a decade of experience in researching various industries, including commodities and technology [1] - The analyst has transitioned from writing a blog to a value investing-focused YouTube channel, researching hundreds of companies [1] - The analyst expresses a preference for covering metals and mining stocks but is also comfortable with consumer discretionary/staples, REITs, and utilities [1]

Core Viewpoint - The S&P 500 index experienced fluctuations shortly after market opening, influenced by major tech stocks like Alphabet and Amazon, which contributed to a decline in the index despite a majority of stocks rising [1]. Group 1: Market Performance - The S&P 500 was moving in and out of negative territory after opening higher [1]. - The Nasdaq Composite dipped by 0.2% [1]. - The Dow Jones Industrial Average increased by 334 points, or 0.6% [1]. Group 2: Impact of Tech Stocks - Alphabet and Amazon.com were leading large tech stocks lower, impacting overall market performance [1]. - The iShares Semiconductor ETF also saw a decline of 0.8% [1].

Investors began February with something of a shock, when artificial intelligence (AI) made clear that it’s not just changing industries and technology — it’s shaking markets to their foundations. Here’s what you need to know before selling. What Happened? Major American stock indexes suffered through nearly a week of losses in early February as anxiety over AI spending (and how its reduced need for coders could impact the revenues of multiple tech companies) shock waved throughout Wall Street, with stock ...

Core Viewpoint - Alphabet Inc. is preparing to issue a rare 100-year bond, aiming to raise approximately $20 billion to support its significant investments in artificial intelligence and other technologies, marking a notable shift in how tech companies are perceived in the financial market [1][2] Group 1: Century Bonds Overview - Century bonds are unique financial instruments typically issued by companies with exceptional longevity and financial resilience, often associated with blue-chip industrial firms rather than technology companies [1] - If Alphabet proceeds with this bond issuance, it will join a select group of corporations that have issued 100-year debt, including Ford Motor Co. and Motorola [1] - The rarity of century bonds makes them attractive to life insurance companies and pension funds, which seek long-term assets to match their obligations [1][2] Group 2: Investor Demand and Market Perception - Analysts expect strong demand for Alphabet's 100-year bond, with reports indicating over $100 billion in demand across various currencies and maturities, reflecting a sustained appetite for high-grade corporate debt [1][2] - The willingness of investors to commit capital to a technology company for a century indicates a shift in perception, viewing hyperscale tech firms as critical infrastructure rather than cyclical entities [2] - The strategic choice to issue the bond in sterling is seen as beneficial, as the UK market has a deep pool of investors familiar with ultra-long maturities [2] Group 3: Alphabet's Funding Strategy - The century bond issuance is part of a broader multi-tranche offering, including a seven-part dollar transaction and potential issuance in Swiss francs, showcasing a diversified funding approach [2] - Alphabet's previous bond issuance in November raised $17.5 billion, attracting approximately $90 billion in orders, indicating strong market interest [2]

A lot of market watchers are excited by the "January Barometer" or "January Indicator," which suggests that January's returns indicate the direction of stocks for the full year. The S&P 500 index was certainly up in January (although by just 1.37%). But tech investors might not want to pop the champagne just yet, because there's another historical trend we've seen in January that has dire implications for tech stocks in 2026. It may already be starting to play out. Where to invest $1,000 right now? Our an ...

Currency Movements - The U.S. dollar is experiencing a decline, influenced by a rebound in the yen, gains in China's yuan, and concerns over a weak U.S. employment report [3][5] - The yen's recovery is attributed to positive market sentiment regarding Japan's fiscal plans and a more stable political environment [4] - The yuan's rise is supported by regulatory warnings in China regarding concentrated holdings of U.S. Treasury bonds and the dollar, with the U.S. dollar at its lowest since May 2023, down nearly 6% against the renminbi over the past year [5] Technology Sector Developments - U.S. mega-cap tech stocks are rebounding after a previous decline, driven by significant capital expenditure plans exceeding $650 billion for 2026 [6] - Major tech companies, including Alphabet and Oracle, are engaging in debt financing, with Alphabet planning to raise an additional $15 billion in high-grade bonds [7] - The five leading AI hyperscalers issued $121 billion in U.S. bonds last year, a significant increase compared to an average of $28 billion per year in the previous four years [7] Regulatory and Political Context - The Trump administration is reportedly exempting major tech companies like Amazon, Google, and Microsoft from upcoming tariffs on chips, facilitating their expansion of AI data centers [8] - In the UK, political developments surrounding Prime Minister Keir Starmer's appointment of Lord Peter Mandelson as U.S. ambassador have caused market fluctuations, but support from the Labour Party has stabilized the situation [8]

By Yoruk Bahceli, Aditya Soni, Zaheer Kachwala and Matt Tracy Feb 10 (Reuters) - Alphabet on Tuesday sold a rare 100-year bond, a memo from the lead manager showed, part of a $31.51 billion global bond raise, as artificial intelligence-driven spending sparks a surge in borrowing at U.S. tech giants. Alphabet's sale of the ‌century bond is the tech industry's first since Motorola's issuance that dates back to 1997, according to LSEG data. "You have an extraordinary time period that we're ‌living throug ...

Core Viewpoint - Michael Burry suggests that Google's decision to issue 100-year debt indicates a potential decline in the company's dominance, drawing parallels to Motorola's decline after a similar bond issuance in 1997 [1][3]. Company Analysis - Alphabet (Google) is planning to issue 100-year bonds, a move that Burry associates with the decline of Motorola, which was the last year it was a dominant player in the market [2][3]. - By 2026, Motorola had significantly fallen in market cap, ranking 232nd with only $11 billion in sales, which Burry uses as a cautionary example for Alphabet [3]. Industry Context - Despite Burry's bearish outlook, Alphabet's business has shown continuous growth, particularly in artificial intelligence (AI) products, and its stock remains positive in early 2026 [5]. - However, Google's search market share has dropped below 90% for the first time in a decade, indicating a potential decline in its dominance [8]. - The decline in search quality and the rise of AI platforms like ChatGPT have contributed to this shift, leading to a significant drop in traffic for many media websites [9]. Market Sentiment - The stock market has reacted negatively to strong earnings reports from major tech firms like Microsoft, Amazon, and AMD, raising concerns about their exposure to AI and the potential for a recession [10][11]. - There are indications that previously announced AI infrastructure deals have been scaled back or canceled, adding to the uncertainty in the sector [12]. - The market-to-GDP ratio is at record highs, suggesting that any disruption could lead to significant market volatility [13].