Welcome to Markets Desk, here's what's moving the needle right now.
T. Rowe Price's Tony Wang, one of the earliest institutional voices behind Nvidia's run, is now scanning the AI landscape for its next pressure points. Wang sees bottlenecks forming across the stack and is rotating toward frontier plays in space infrastructure and photonics, areas he believes will define the next leg of AI's buildout.
Staying with macro, gold has slipped below four thousand five hundred dollars an ounce as oil-driven inflation reignites fears of further rate hikes. Investors are reassessing how long the Fed and other central banks can hold a restrictive posture, and that uncertainty is pulling safe-haven demand in two directions at once, pressuring the metal even as risk appetite stays cautious.
Meanwhile in Europe, the DAX pushed higher Wednesday with automakers leading the charge, a notable move given the backdrop of lingering inflation concerns and unresolved tensions around a potential Iran-US diplomatic outcome. German equities appear to be pricing in resilience, though traders will be watching whether that conviction holds through the week's data prints.
That's the tape. Markets Desk, signing off the floor.
