Investment Update

February 13 – Daily Market Update

13 February 2026 – Daily Market Updates Markets Daily | Broad Market Update Overview Global markets are treading cautiously ahead of a key US inflation print. US equity futures are slightly lower, European stocks are softer, and the dollar is a touch firmer. Asian trading was mixed, with Hong Kong underperforming. Bond markets are steady to marginally weaker as traders balance hopes for rate cuts later this year against signs that underlying price pressures may prove stickier than previously assumed. Crypto assets are firmer, and select commodity prices are consolidating. Snapshot (approximate, 06:20 ET) US equity futures: modestly lower (around -0.3%) Europe: Stoxx 600 slightly in the red (about -0.3%) US dollar: marginally stronger (roughly +0.1% on a broad index) Asia: Hong Kong notably weaker (down nearly 1.7%) Bitcoin: higher (around +1.5%–2%) What’s driving markets All eyes on inflation: Today’s US consumer price reading is poised to set the near-term tone for rates and risk assets. An upside surprise could challenge the consensus for multiple rate cuts later this year, while a softer print would likely revive the “soft-landing” narrative. Rates debate: Front-end yields remain sensitive to data surprises. While markets still discount rate reductions this year, the path and timing remain in flux amid resilient growth and evidence of lingering services inflation. Dollar bid, commodities mixed: The greenback’s mild strength reflects pre-data caution. Base metals are consolidating amid shifting policy headlines, while energy prices are range-bound as supply dynamics offset demand questions. AI jitters cool, but rotations persist: After a bout of AI-driven volatility and sharp factor rotations, equity markets stabilized. Still, investor positioning remains highly responsive to headlines about automation and productivity, with periodic knock-on effects across software, logistics, financial services, and professional industries. Equities US: The tape is balanced ahead of the data. Semiconductor equipment names have benefited from constructive guidance tied to capacity and AI-related demand. By contrast, some ad-driven internet platforms have faced pressure on softer revenue commentary, while select streaming and connected-TV names saw relief on better-than-feared results. An EV manufacturer’s progress toward profitability has supported sentiment in that niche. Europe: Consumer and luxury-linked names lagged after softer sales updates in select categories, reinforcing a defensive tone. Broader indices remain range-bound as investors await US macro catalysts. Asia: Hong Kong underperformed on renewed growth concerns, while other regional markets were mixed as earnings season and global rate expectations guided flows. Fixed income and FX Treasuries: Yields are little changed to slightly higher into the CPI release. The curve remains in a holding pattern, with two- to five-year maturities most sensitive to any re-pricing of the Fed path. Global bonds: Core European yields track US moves; peripheral spreads are stable. Credit markets remain orderly, though bid-offer typically widens around major data. FX: The dollar firmed modestly on event risk hedging. High-beta and cyclical currencies are range-trading; the yen remains driven by relative policy expectations and US yield direction. Commodities and crypto Commodities: Industrial metals are steady to softer amid trade-policy headlines and growth worries. Oil holds in a tight band as supply risks offset macro caution. Gold is little changed, reflecting the push-pull between real yields and hedging demand. Digital assets: Crypto benchmarks are firmer after recent volatility. Institutional interest and flows remain supportive, but positioning is highly reactive to macro data and regulatory developments. Primary markets and corporate flow New issuance: Signs of select US IPO postponements and resized offerings reflect a more discerning tone on valuations and near-term demand. Seasoned issuers in investment-grade and high yield continue to access markets, but windows may narrow around data prints. Earnings pulse: Reporting volume is slowing into the long weekend. A handful of consumer and healthcare names report before the open; guidance and margin commentary remain the key swing factors for single-stock moves. The day ahead — key things to watch US CPI: Core services momentum, shelter disinflation pace, and goods pricing will be dissected for clues on the durability of progress toward target. Rate expectations: Watch front-end yields, Fed-dated OIS, and terminal-rate pricing post-release. Equity leadership: Semis and AI-adjacent beneficiaries versus defensives; any rotation after the data could set the tone into month-end. Liquidity: Expect wider spreads and quicker price gaps around the print; levels may normalize into the afternoon if outcomes meet consensus. Risk considerations Event risk: Macro surprises can prompt outsized moves in rates, FX, and cyclicals. Hedging and disciplined risk limits are advisable around releases. Policy and trade: Shifts in tariff frameworks and industrial policy can influence metals, industrials, and global supply-chain plays. Earnings and guidance: With macro uncertainty elevated, forward guidance remains a primary driver of dispersion across sectors. This material is provided for information purposes only and does not constitute investment advice or a recommendation to buy or sell any financial instrument. Past performance is not indicative of future results. Markets are volatile and may move quickly following economic data or policy developments. Disclaimer: Trading foreign exchange and/or contracts for difference on margin carries a high level of risk, and may not be suitable for all investors as you could sustain losses in excess of deposits. The products are intended for retail, professional and eligible counterparty clients. Before deciding to trade any products offered by PhillipCapital (DIFC) Private Limited you should carefully consider your objectives, financial situation, needs and level of experience. You should be aware of all the risks associated with trading on margin. The content of the Website must not be construed as personal advice. For retail, professional and eligible counterparty clients. Before deciding to trade any products offered by PhillipCapital (DIFC) Private Limited you should carefully consider your objectives, financial situation, needs and level of experience. You should be aware of all the risks associated with trading on margin. Rolling Spot Contracts and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78% of our retail client accounts lose money while trading with us. You should consider whether you understand how Rolling Spot Contracts and CFDs work, and

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February 11 – Daily Market Update

11 February 2026 – Daily Market Updates Markets Daily — Broad Market Update Market snapshot (as of 6:06 a.m. ET) US equity futures: flat to slightly lower (S&P 500 futures near 6961, -0.01%) Europe: Stoxx 600 around 619.6, -0.22% Asia: Hang Seng closed up roughly 0.3% near 27266 US dollar: softer by about 0.3% on a broad trade-weighted basis Bitcoin: near $66600, down roughly 2.9% US Treasuries: yields edging lower across the curve Macro and policy “Bad news is good news” is back in focus. Softer data have reinforced expectations that major central banks, led by the Fed, could begin easing later this year. Markets are leaning toward multiple rate cuts in 2026, though timing remains data-dependent. Today’s US labor-market update will be pivotal. Traders will watch headline payrolls, the unemployment rate, participation, average hourly earnings, and—critically—revisions to prior months. A cooler set of numbers would bolster the case for earlier policy support; an upside surprise could push back those timelines. Global growth signals are mixed: Europe continues to show uneven momentum, while Asia’s tech‑heavy markets have benefited from the weaker dollar and ongoing demand for semiconductors and AI infrastructure. Equities US: Index futures are steady as investors balance resilient mega-cap tech leadership with late‑cycle dynamics favoring quality balance sheets and cash flow. Rate‑sensitive segments tend to benefit when yields fall, while small caps remain more volatile around macro surprises. Europe: Modest declines in early trade as investors digest earnings, cost‑reduction plans, and guidance resets. Defensive pockets (utilities, staples, healthcare) are finding support when bond yields ease, while cyclicals trade more on growth and China‑linked headlines. Asia: Mixed session. Tech‑oriented markets continue to attract flows on AI hardware demand, while parts of Greater China remain range‑bound amid policy and property‑sector uncertainty. Rates and credit US Treasuries are firmer, with the belly of the curve leading on softer growth signals. A cool employment print would likely extend the rally and favor a bull‑steepening bias; a hotter release risks a reversal with front‑end yields most sensitive. Investment‑grade credit spreads are broadly stable; high yield trades in a tight range but remains sensitive to earnings surprises and any pickup in default chatter. Currencies The dollar is easing for a fourth session as rate‑cut probabilities firm. A benign wage‑inflation number would likely keep the pressure on the greenback; stronger earnings growth could flip the script. G10: Euro and pound are firmer against the dollar; yen steadies as US yields dip. Select commodity currencies are consolidating after recent gains. Commodities and crypto Oil: Range‑bound as supply risks and inventory dynamics offset growth concerns. Positioning remains cautious ahead of key macro prints. Gold: Supported by lower real yields and a softer dollar; ETF flows remain the swing factor. Digital assets: Bitcoin is retracing after a strong multi‑week run; intra‑day volatility remains elevated around liquidity pockets and risk sentiment. Theme to watch: The AI dispersion Markets are recalibrating winners and potential laggards from rapid AI adoption. Hardware beneficiaries and energy‑efficient infrastructure remain in focus, while parts of software, services, and select financial niches face headline‑driven volatility. Expect continued differentiation at the single‑name level as business models adapt and pricing power is tested. Event radar US labor market report: headline jobs, unemployment rate, participation, average hourly earnings, and prior‑month revisions Central bank speakers and minutes across major economies Corporate earnings: watch forward‑guidance language, cost discipline, AI investment pacing, and capital‑return updates Trading lens: What could move markets today Weaker‑than‑expected jobs/wage data: likely bullish duration, softer dollar, supportive for rate‑sensitives and quality growth Stronger‑than‑expected jobs/wage data: potential bear‑flattening in rates, dollar bounce, factor rotation toward cyclical/value and financials Big revisions: could meaningfully reshape the narrative even if the headline meets estimates House view highlights Macro remains a tug‑of‑war between cooling growth and prospective policy support. Near term, data beats/misses will likely drive sharp, factor‑level rotations more than index‑directional trends. Stay selective within equities, with an emphasis on quality balance sheets and durable cash flow. In fixed income, carry remains attractive, but duration should be sized with event risk in mind. Important information This material is for information only and does not constitute investment advice or a recommendation to buy or sell any security or strategy. Markets are volatile and can move quickly around economic releases and company news. Consider your objectives, risk tolerance, and local regulations before making investment decisions. Market levels and performance figures referenced above are indicative and subject to change. Disclaimer: Trading foreign exchange and/or contracts for difference on margin carries a high level of risk, and may not be suitable for all investors as you could sustain losses in excess of deposits. The products are intended for retail, professional and eligible counterparty clients. Before deciding to trade any products offered by PhillipCapital (DIFC) Private Limited you should carefully consider your objectives, financial situation, needs and level of experience. You should be aware of all the risks associated with trading on margin. The content of the Website must not be construed as personal advice. For retail, professional and eligible counterparty clients. Before deciding to trade any products offered by PhillipCapital (DIFC) Private Limited you should carefully consider your objectives, financial situation, needs and level of experience. You should be aware of all the risks associated with trading on margin. Rolling Spot Contracts and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78% of our retail client accounts lose money while trading with us. You should consider whether you understand how Rolling Spot Contracts and CFDs work, and whether you can afford to take the high risk of losing your money. February 11 – Daily Market Update February 11, 2026 11 February 2026 – Daily Market Updates Markets Daily —… Read More February 10 – Daily Market Update February 10, 2026 10 February 2026 – Daily Market Updates Markets Daily: Caution… Read More February 4 – Daily Market Update February 4, 2026 4 february 2026 – Daily Market Updates Markets Daily: Broad… Read More February 3 –

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February 2 – Daily Market Update

Leave a Comment / Market Updates, Daily Market Updates / PhillipCapital DIFC Research Team

2 February 2026 – Daily Market Updates Markets Daily: Volatility returns as crowded trades reset; central banks and jobs data in focus Market Snapshot (as of 06:52 am ET) S&P 500 Futures: 6933.5 (-0.46%) Nasdaq 100 Futures: 25466.25 (-0.79%) Bitcoin: 77851.5 (+1.86%) Gold: 4774.16 (-2.45%) Opening take Risk appetite softened to start the week as investors trimmed popular long positions across equities and commodities. US equity futures point lower for a fourth session, the dollar is little changed, and rate markets are steady ahead of a dense macro calendar that includes major central bank decisions in Europe and the US January employment report. The notable outlier is crypto, where prices stabilized after a volatile weekend. Today’s key themes Commodities swing: Precious metals and energy retreated sharply, reflecting a combination of profit-taking, position de-risking, and idiosyncratic liquidity stresses in parts of Asia. Intraday moves have been wide, a hallmark of thin conditions into regional holidays and tighter margins for leveraged positions. Dip-buying interest is emerging in physical markets, but price discovery remains unsettled. Tech-led equity pullback: After a strong run, high-beta segments—particularly AI-adjacent semiconductor names in Asia—saw outsized declines, with spillovers to Europe and US futures. The catalyst mix includes lofty positioning, shifting expectations around capex plans, and a broader “take profits first, ask questions later” mindset into the macro-heavy week. Crypto steadies: Digital assets found a footing after recent losses, trading more in line with broader risk tone rather than in isolation. Correlations with high-growth equities remain elevated, and crypto-exposed equities are seeing pressure in premarket trade despite the rebound in headline tokens. FX and rates: The dollar is marginally softer against majors, with yields largely unchanged as investors await guidance from the ECB and BoE and Friday’s US jobs report. Expect limited directional conviction until those catalysts land. Across regions Asia: Equities weakened, led by technology hardware and semiconductors. A combination of profit-taking and local market liquidity dynamics amplified the moves. Commodity-related shares lagged amid the metals pullback. Europe: Stocks opened mixed-to-lower, with miners and energy underperforming. Defensive sectors held up better as investors positioned for Thursday’s central bank decisions. Sovereign bonds were steady. US: Futures are lower, with cyclical and momentum cohorts indicated down more than the broader tape. Volatility is ticking up from subdued levels as options markets price wider ranges into Friday’s payrolls. Corporate and sector highlights Metals and mining: Gold and silver volatility weighed on producers; beta to spot prices remains high after a strong year-to-date run. Position-sensitive names are seeing outsized moves. Energy: Crude softness and headline risk around geopolitics dragged the complex. Integrateds and E&Ps are indicated lower premarket. AI and cloud: A large enterprise software provider flagged sizable funding plans to expand cloud/AI infrastructure capacity, underscoring the ongoing capex race. Markets continue to debate the durability and timing of returns on hyperscale spend. Media and consumer: A prominent media conglomerate’s leadership planning remains in focus alongside earnings. Consumer and staples bellwethers will offer read-throughs on pricing power and volumes this week. Crypto-linked equities: Miners, exchanges, and infrastructure plays are under pressure despite stabilization in major tokens, reflecting sensitivity to recent drawdowns and hash-price dynamics. The week ahead: macro diary Monday: Global manufacturing PMIs; selected central bank speakers. Earnings from large-cap consumer, entertainment, and software names. Tuesday: Australia policy decision; Eurozone bank lending survey; France/South Korea/Turkey CPI; Spain unemployment; US JOLTS and vehicle sales. US earnings heavy in payments, beverages, pharma, and semis. Wednesday: Services PMIs (selected regions); US ADP employment and ISM services; US Treasury financing outlook. Earnings include a major US search/advertising platform and a global bank. Thursday: Policy decisions from the ECB, BoE, and Mexico; Germany factory orders; France industrial production; US initial jobless claims. Private equity, energy, and ecommerce names report. Friday: US nonfarm payrolls, unemployment rate, and consumer sentiment; Canada jobs; Germany industrial production; India policy decision; Japan household spending and leading index. What we’re watching next Crowding unwind: The rotation out of year-to-date winners suggests positioning rather than macro alone is driving price action. Watch for signs of stabilization in flows before chasing reversals. Central bank tone: Any updates on balance sheet plans and inflation assessment from the ECB/BoE could steer duration and FX into the weekend. US payrolls: After resilient labor prints, any shift in wage growth or participation could influence the timing and magnitude of rate-cut expectations. Earnings breadth: Guideposts from mega-cap tech, semis, payments, and energy will shape the narrative on AI monetization, consumer health, and capex cycles. Risk management considerations Elevated intraday swings in commodities and high-beta equities argue for disciplined sizing and wider stop tolerances. Into Friday’s data, consider scenario planning around labor-market surprises and the knock-on to front-end rates, tech multiples, and USD direction. For hedgers, skew in index options has richened modestly; cross-asset hedges (gold, USD, duration) have been inconsistent—diversification across hedges may be prudent. This material is provided for information only and does not constitute investment advice or a solicitation to buy or sell any financial instrument. Markets are volatile and subject to change. Consider your objectives, risk tolerance, and local regulations before making investment decisions. Disclaimer: Trading foreign exchange and/or contracts for difference on margin carries a high level of risk, and may not be suitable for all investors as you could sustain losses in excess of deposits. The products are intended for retail, professional and eligible counterparty clients. Before deciding to trade any products offered by PhillipCapital (DIFC) Private Limited you should carefully consider your objectives, financial situation, needs and level of experience. You should be aware of all the risks associated with trading on margin. The content of the Website must not be construed as personal advice. For retail, professional and eligible counterparty clients. Before deciding to trade any products offered by PhillipCapital (DIFC) Private Limited you should carefully consider your objectives, financial situation, needs and level of experience. You should be aware of all the risks associated with trading on margin. Rolling Spot Contracts and CFDs are complex instruments and come with a high

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January 21 – Daily Market Update

Leave a Comment / Market Updates, Daily Market Updates / PhillipCapital DIFC Research Team

21 january 2026 – Daily Market Updates Daily Markets Briefing Market Snapshot (as of 06:16 am EST; values may be delayed) S&P 500 Futures: 6842 (+0.18%) Stoxx Europe 600: 600.03 (-0.46%) US 10-Year Treasury Yield: 4.281% (down ~0.01) Nikkei 225: 52774.64 (-0.41%) Spot Gold: 4866.3 (+2.16%) Overview US equity futures are stabilizing after a sharp risk-off session, while Europe trades softer and Asia finished mixed. Government bond yields are easing at the margin as investors reassess growth and policy expectations, and safe-haven bids remain evident in precious metals. Weather-driven energy dynamics and a busy corporate earnings slate are in focus. Equities United States: Futures indicate a modest rebound following the largest S&P 500 pullback in several months. The tone remains headline-sensitive with investors weighing earnings updates, policy chatter from global forums, and the path for growth-sensitive sectors. Market breadth and factor rotations bear watching after a burst of volatility. Europe: The region’s benchmark is lower, led by consumer and health care laggards, while select luxury and industrial names outperform on company-specific updates. Energy and utilities see support from higher fuel price expectations into a colder weather pattern. Asia: Japanese stocks slipped as recent rate and currency volatility kept risk appetite in check, though losses were contained by a pullback in long-dated yields. Other major regional markets were mixed, with pockets of strength in technology and internet names. Rates and Credit US Treasuries: The 10-year yield is edging lower, reflecting a small bid for duration after yesterday’s equity selloff. The curve remains sensitive to incoming growth data, earnings guidance on capex and labor, and evolving central-bank rhetoric. Global sovereigns: Longer-maturity Japanese bonds recovered some ground after a volatile stretch, helping to soothe broader rate jitters. European core yields are steady to slightly lower, with peripheral spreads broadly contained. Credit: Investment-grade and high-yield spreads widened modestly with the equity drawdown but remain within recent ranges. Primary issuance is active into earnings season, with investors selective on leverage and interest coverage profiles. FX and Commodities Gold: The metal extends gains on haven demand and lower real-yield impulses. Flows into precious metals remain supported by diversification and geopolitical hedging. Energy: Natural gas prices are elevated as forecasts point to an intense cold spell across key North American demand and production hubs. Winter reliability and storage draws are back in focus for utilities and upstream names. Crude is firmer but range-bound as supply discipline and demand seasonality offset growth and policy uncertainties. FX: The dollar is mixed against majors, with rate differentials and risk sentiment driving intraday swings. Yen and select European currencies are stable after the latest moves in global bonds. Corporate Highlights Airlines: A leading US carrier posted better-than-expected quarterly results, lifting the group on improving revenue trends and disciplined capacity plans. Investors are watching commentary on business travel and fuel hedging into late winter. Media and Streaming: A major streaming platform is under pressure premarket after issuing a cautious outlook and pausing buybacks amid higher content and integration spending. Markets are parsing visibility on subscriber growth, pricing, and cash-flow timing. Consumer Staples: A large packaged-food company is weaker after a significant shareholder registered stock for potential sale, reviving focus on portfolio mix, pricing power, and margins. Health Care, Financials, Insurance: Several bellwethers report before the US open. Watch loan growth and deposit costs for financials, medical device and pharma pipelines in health care, and catastrophe loss trends for insurers. Europe: A diagnostics firm rallied on reports of strategic review considerations, while a UK luxury brand gained after signs of early progress in a turnaround plan. Key Drivers to Watch Earnings season: Guidance on 2026 capex, AI-related spend, operating leverage, and margin durability is likely to set the tone for sector rotations. Macro and policy: Remarks from global policy gatherings, central-bank speakers, and upcoming data on growth and inflation will shape rate expectations and the risk premium across assets. Weather and infrastructure: The impending cold snap may ripple through energy markets, midstream logistics, and short-term industrial output. Market structure: Elevated options activity and systematic flows can amplify intraday volatility; monitor positioning, skew, and realized vs. implied vol. Takeaways for Investors Quality bias and liquidity discipline remain important as markets navigate cross-currents from policy headlines, earnings dispersion, and winter energy dynamics. Balance duration and equity risk: modest duration exposure can buffer equity drawdowns if growth scares resurface, while selective cyclical exposure can benefit from resilient demand pockets. Focus on cash flow visibility: companies demonstrating pricing power, cost control, and clear capital-return frameworks may be rewarded as the bar for guidance rises. Calendar (near term) US corporate earnings: Health care, financials, industrials, and tech updates throughout the week. Global data: Preliminary manufacturing and services readings, housing indicators, and weekly labor prints in the US. Policy watch: Central-bank commentary and fiscal headlines from global forums. Disclosure This material is provided for information purposes only and does not constitute investment advice, a solicitation, or a recommendation to buy or sell any security or strategy. Market data are subject to change and may be delayed. Consider your objectives and risk tolerance before making investment decisions. Disclaimer: Trading foreign exchange and/or contracts for difference on margin carries a high level of risk, and may not be suitable for all investors as you could sustain losses in excess of deposits. The products are intended for retail, professional and eligible counterparty clients. Before deciding to trade any products offered by PhillipCapital (DIFC) Private Limited you should carefully consider your objectives, financial situation, needs and level of experience. You should be aware of all the risks associated with trading on margin. The content of the Website must not be construed as personal advice. For retail, professional and eligible counterparty clients. Before deciding to trade any products offered by PhillipCapital (DIFC) Private Limited you should carefully consider your objectives, financial situation, needs and level of experience. You should be aware of all the risks associated with trading on margin. Rolling Spot Contracts and CFDs are complex instruments and come with a high

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january 15 – Daily Market Update

Leave a Comment / Market Updates, Daily Market Updates / PhillipCapital DIFC Research Team

15 January 26 – Daily Market Updates Markets Daily — Broad Market Update Tone at a glance Risk appetite is firmer in early US hours as technology strength and improving breadth underpin equities, while commodities trade mixed and volatility remains contained. Market snapshot Nasdaq 100 futures: 25837.75 (+0.81%) WTI crude (front-month): 59.77 (-3.53%) Stoxx Europe 600: 613.88 (+0.38%) Nikkei 225: 54110.5 (-0.42%) Spot silver: 91.26 (-2.04%) Note: Market data may be delayed and is for informational purposes only. Global overview Equities: Technology-led gains are supporting US futures, with investors rotating selectively into growth areas tied to compute, data infrastructure, and semiconductors. Europe is modestly higher, paced by cyclicals and select financials, while Japan eased after a strong multi-month run as investors reassess valuations and currency moves. Commodities: Crude oil is lower as geopolitical risk premiums ebb and supply expectations stabilize; refined products are mixed. Precious metals are softer alongside a steady dollar and firmer real yields, while industrial metals show a slight bid on incremental signs of demand resilience. Breadth and style: After a period of improved participation across sectors, leadership remains a tug-of-war between mega-cap tech and economically sensitive groups. Small and mid caps have shown better relative tone lately, helped by easing credit anxieties and hopes for durable earnings improvement, but momentum still gravitates to AI-linked beneficiaries. Volatility: Implied volatility across major equity benchmarks remains subdued, consistent with a “climb the wall of worry” backdrop. Low vol can amplify reactions to data surprises, earnings guidance, or policy headlines. US session focus Earnings: Early results from large financial institutions and bellwethers across technology hardware and software will anchor the narrative on credit quality, deposit trends, AI-related capex, and enterprise demand. Management guidance on margins and capex plans is a key swing factor for sentiment. Data and policy: Investors are watching weekly labor indicators, housing and production updates, and any central bank commentary for clues on the path of growth, inflation, and policy rates. The market remains sensitive to shifts in rate-cut expectations and to evidence of either reacceleration or cooling in activity. Europe and UK European shares are supported by a mix of industrials, financials, and healthcare. Recent data suggest tentative stabilization in activity, though margin commentary remains front of mind in consumer and luxury segments. In the UK, manufacturing and services readings are being watched for confirmation of a gradual improvement in output and pricing pressures. Asia-Pacific Japan’s equity benchmark dipped modestly after a significant year-to-date advance, with investors weighing earnings revisions against currency dynamics and potential policy normalization. In broader Asia, tech supply-chain names continue to benefit from resilient demand for compute and memory, while exporters monitor global orders and shipping costs. Sectors to watch Semiconductors and equipment: Upbeat capex intentions across the compute/AI stack continue to filter through to suppliers, sustaining order backlogs and utilization outlooks. Watch commentary on lead times, tool deliveries, and supply normalization. Energy: Crude weakness reflects shifting risk premiums and balanced supply expectations. Keep an eye on inventory trends, OPEC+ signals, and refining margins for clues on near-term direction. Financials: Funding costs, loan growth, fee income, and credit provisions are the key watchpoints. Capital return plans and expense discipline remain catalysts. Consumer and discretionary: Margin resilience versus promotional activity is in focus. Travel, leisure, and luxury are sensitive to high-end demand and FX. What could move markets next Earnings guidance: Forward-looking commentary on demand, pricing, and margin structure may matter more than backward-looking beats/misses. Rate expectations: Any change in the timing or pace of anticipated policy adjustments can ripple through duration-sensitive equities and credit. Geopolitics and commodities: Headline risk around supply routes and regional tensions can quickly alter energy and freight pricing. Market internals: Watch breadth, new highs/lows, and factor dispersion to gauge the durability of the current advance. Risk radar Concentration risk in mega-cap leaders despite improving breadth Sensitivity to input costs and wage dynamics as pricing power normalizes Liquidity pockets in credit and private markets amid evolving rate paths Event risk around data releases and policy communication House view (tactical) Constructive but selective on risk assets near term, favoring high-quality balance sheets and cash-flow visibility. Prefer exposure to structural growth themes in compute/AI and automation while balancing with cyclicals tied to steady global demand. Maintain diversification with an eye on duration risk and potential volatility spikes around key events. Important information This newsletter is a general market commentary prepared for informational purposes only. It is not investment advice or a recommendation to buy or sell any security, sector, or strategy. Market levels shown above were provided by the user and may be delayed. Always evaluate investments in light of your objectives, risk tolerance, and financial situation. Disclaimer: Trading foreign exchange and/or contracts for difference on margin carries a high level of risk, and may not be suitable for all investors as you could sustain losses in excess of deposits. The products are intended for retail, professional and eligible counterparty clients. Before deciding to trade any products offered by PhillipCapital (DIFC) Private Limited you should carefully consider your objectives, financial situation, needs and level of experience. You should be aware of all the risks associated with trading on margin. The content of the Website must not be construed as personal advice. For retail, professional and eligible counterparty clients. Before deciding to trade any products offered by PhillipCapital (DIFC) Private Limited you should carefully consider your objectives, financial situation, needs and level of experience. You should be aware of all the risks associated with trading on margin. Rolling Spot Contracts and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78% of our retail client accounts lose money while trading with us. You should consider whether you understand how Rolling Spot Contracts and CFDs work, and whether you can afford to take the high risk of losing your money. january 15 – Daily Market Update January 15, 2026 15 January 26 – Daily Market Updates Markets Daily —… Read More january 14 –

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