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january 15 – Daily Market Update

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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Jan 02 – Daily Market Update

Jan 02 – Daily Market Updates Markets Daily — Broad Market Update Global risk appetite is firm to start the year, with technology leadership back in focus and commodities diverging. Below is a concise look at what’s moving markets and what to watch next. Market snapshot (as of 06:25 am ET) S&P 500 futures: 6936.2 Nasdaq 100 futures: 25736.25 US 10-year Treasury yield: 4.155% (-1 bp) Broad dollar index: +0.10% WTI crude (front-month): 57.40 What’s driving the tone Tech-led risk-on: Enthusiasm around artificial intelligence and semiconductor demand is lifting global equities. US futures are higher, and European benchmarks are testing new highs, while Asia’s session benefited from upbeat headlines tied to chips and AI infrastructure. Metals bid, oil softer: Precious metals are extending last year’s strong run, while industrial metals are firmer on hopes for improving manufacturing demand. Crude is weaker as ample supply and cautious demand expectations outweigh headline risks. Yields edge down: US Treasuries are slightly firmer in early trading, reflecting cooler inflation trends and expectations that major central banks will have room to ease later this year if growth moderates. Equities US: Mega-cap tech and semiconductor names are pacing gains in premarket trading, with data center suppliers and AI-adjacent hardware/software names outperforming. Cyclical sectors are mixed as investors balance the growth impulse from tech with still-tight valuations across parts of the market. Europe: Broad strength across large caps, with chip equipment, industrials, and select financials firm. A softer oil tape is a mild headwind for energy shares. Asia: High-beta tech and internet groups led advances. Select listings connected to AI chips and cloud infrastructure drew strong interest, underscoring ongoing capital expenditure plans tied to compute and networking. Rates and credit US Treasuries: The 10-year yield is hovering near 4.16%, down modestly on the session, with the curve little changed. Markets continue to price a gradual path toward easier policy later in 2026, contingent on labor and inflation data. Credit: Primary issuance is expected to reopen as the calendar turns, with spreads remaining tight versus long-run averages—a sign of healthy risk appetite but a reminder that compensation for credit risk is slim if growth disappoints. FX The dollar is marginally stronger versus a broad basket as rate differentials remain supportive. High-beta currencies are stable to firmer on improved equity sentiment, while commodity FX is capped by softer crude. Commodities Energy: Crude is under pressure amid signs of comfortable supply and uneven demand growth. Refining margins are mixed; product cracks vary by region as winter demand patterns take hold. Metals: Gold and silver extend gains, supported by lower real yields and ongoing diversification flows. Industrial metals such as copper and aluminum are firmer on hopes of steady capex in electrification, grid, and data center build-outs. Sectors and themes to watch AI and semiconductors: Momentum remains concentrated in compute, memory, and power/cooling infrastructure tied to data centers. Watch for updates on capacity expansions, supply constraints, and pricing power along the chip supply chain. EVs and autos: Delivery and production updates are in focus. Investors are watching how US and Chinese manufacturers navigate pricing, inventory, and model cycles, as well as how software/autonomy roadmaps influence valuation. Energy: Policy headlines and OPEC+ signals remain near-term catalysts, but physical balances and inventory trajectories are driving price action day to day. Macro and policy backdrop Inflation is trending lower from prior peaks, helping central banks pivot toward a more flexible stance. That said, policymakers remain data dependent, and the timing/scale of any rate cuts will likely hinge on labor market resilience. Fiscal support varies by region, with targeted measures aimed at growth and industrial policy. Trade frictions and regulatory shifts remain watchpoints for cross-border flows and supply chains. The day and week ahead Data: Manufacturing surveys, early reads on global PMIs, and high-frequency labor indicators will shape rate expectations. Later in the week, look for minutes and speeches from key central banks for guidance on the pace of any 2026 policy recalibration. Corporate: A steady stream of trading updates and guidance resets is expected as companies exit blackout windows. Watch capex commentary tied to AI infrastructure, grid upgrades, and logistics. Positioning thoughts Equities: Leadership remains narrow; consider balancing AI beneficiaries with quality cyclicals and defensives to mitigate concentration risk. Fixed income: With yields off the highs and inflation easing, selectively extending duration may improve portfolio ballast, while staying discerning in lower-quality credit where spreads are thin. Commodities and FX: Expect episodic volatility around policy and geopolitics; risk management and diversification remain key. This material is 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 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 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. Jan 02 – Daily Market Update January 2, 2026 Jan 02 –

january 15 – Daily Market Update

Jan 02 – Daily Market Update

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