Bulls vs Bears - EP122 : SaaSention in software stocks
Mark, Kai and Jonathan discuss the movers and shakers in the stock markets this week
🎙️ Bulls vs Bears — Weekend Edition | 5 June 2026 Ten Weeks Up, Then a Wobble — But the Bull Didn’t Break US markets entered the week riding their longest winning streak since 2023, with the S&P 500 pushing through 7,600 for the first time as AI euphoria kept powering risk assets higher. But by mid-week, fresh US–Iran military exchanges, oil volatility, and a sharp Broadcom selloff reminded investors that perfection is already priced into parts of the market. This week’s key takeaways: AI boom broadens, but expectations are brutal: Nvidia surged after unveiling its RTX Spark “superchip” for Windows PCs, Anthropic confidentially filed for a US IPO at a reported $965B valuation, and Marvell jumped after Jensen Huang floated it as a potential trillion-dollar company. But Broadcom’s strong result still disappointed, showing AI stocks now need perfection to keep rallying. Geopolitics drives the commodity tape: US–Iran tensions escalated again, with strikes near the Strait of Hormuz and oil briefly surging above US$98/bbl. A conditional Israel–Lebanon ceasefire helped crude pull back late in the week, but Brent still finished sharply higher. Rotation beneath the surface: The Dow hit fresh records as money rotated into financials, healthcare and energy, while semiconductors dragged on the Nasdaq. The S&P held firm despite chip fatigue, with market breadth improving sharply into Thursday. Macro keeps the Fed hawkish: US data remained stronger than expected, with JOLTS openings at 7.618M, ADP payrolls improving, and services activity beating expectations. Markets are now leaning toward a Fed hike by year-end as inflation and labour resilience keep pressure on policymakers. Australia lags but holds ground: The ASX 200 rose modestly, with healthcare outperforming while miners and banks weighed. RBA commentary dominated locally as investors weighed whether the central bank pauses after three hikes in 2026. Plus: Bitcoin slumped to a four-month low, gold held near record highs, iron ore softened on China concerns, Megaport surged on an AI-linked Citi upgrade, Superloop lifted guidance, and next week brings US payrolls, US–Iran peace talks, the ECB, BOJ, RBA commentary, SpaceX IPO watch, and Anthropic/OpenAI filing updates.
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