Close To Full Ponzi? Bubbles, Bubbles Everywhere; But Will They Pop Or Not?

This is our weekly market update where we start in the US, cross to Europe and Asia, and end in Australia, covering commodities and crypto along the way. As artificial intelligence stocks such as Nvidia, Meta Platforms, Microsoft and Alphabet push higher and higher, and even tech laggards such as Oracle and Intel suddenly catch an AI bid, warnings about stretched valuations, reckless capital expenditure and irrational exuberance seem to be everywhere. Note though the “Magnificent Seven” haven’t made new highs since December 2024. They’re actually making lower highs while the broader market keeps grinding up, a classic divergence pattern […]