MPC Morning Call 10th February 2026 – Tech continues rebound as “risk on” returns for reasons unknown
There was a continuation of the move in tech overnight as investors “risk-on” sentiment strengthened. I cant find a positive catalyst to justify the move in the last 2 days, if anything, the looming US employment report tomorrow night is rumoured to be poor, perhaps the market…
WATCH ON YOUTUBE There was a continuation of the move in tech overnight as investors “risk-on” sentiment strengthened. I cant find a positive catalyst to justify the move in the last 2 days, if anything, the looming US employment report tomorrow night is rumoured to be poor, perhaps the market is taking that as a positive rate cut catalyst chipmakers and AI-related companies led gains, reversing earlier selloffs sparked by fears of overvaluation and the disruptive impact of artificial intelligence on established software models. The recovery came as investors prepared for a new wave of earnings reports, including results from major players like Coca-Cola and Ford. Among Monday’s highlights, ON Semiconductor was set to report figures largely in line with expectations, buoyed by demand from AI data centers even as weaker electric vehicle sales continued to weigh on its automotive business. Other key tech firms such as Datadog, Spotify, Cisco, and Applied Materials are also slated to publish results later this week. Beyond corporate news, attention is turning to major U.S. economic data delayed by a recent temporary government shutdown. The January employment report, now due Wednesday, is expected to shed light on whether hiring momentum is waning after a softer-than-expected private-sector reading last week. Meanwhile, investors are closely watching Friday’s consumer price index release for signs that inflation pressures are easing enough to allow the Federal Reserve to consider interest rate cuts in the coming months. In commodities, gold and silver prices surged after a volatile week marked by shifting sentiment over safe-haven assets and monetary policy uncertainty. Gold rose over 2% in European trade, while silver climbed more than 7%, recovering sharply from last week’s lows. Crude oil also advanced following reports that the U.S. and Iran agreed to continue indirect nuclear negotiations, easing fears of an escalation in the Middle East. Brent crude rose 1.5% to about $69 a barrel, and West Texas Intermediate gained 1.3% to $64.35, helped by optimism that diplomatic progress could stabilize regional energy markets. Commodities, Energy & FX ASX Overnight: SPI 8857 (+0.36%) The Day Ahead: The ASX bounce back solidly following the US lead. Corporate news Macquarie Group has reported higher profits across its four business divisions for the December quarter as the asset management and investment banking giant upgraded its guidance for its commodities and global markets unit for the full year. Region Group has upgraded its earnings outlook for the 2026 fiscal year, lifting forecast funds from operations to 16.0¢ per security from 15.9¢, implying 3.2 per cent growth on FY25. DroneShield has appointed former Thales Australia and Knorr-Bremse executive Michael Powell as chief operating officer as the counter-drone group ramps up global growth.
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