3rd November 2025 – AWS continues to drive the AI thematic, while breadth of rally narrows

In this morning's edition of the MPC Markets Morning Call, Mark discusses the current state of the market, focusing on the AI thematic driven by recent earnings reports. He highlights concerns about the narrowing breadth of the rally, particularly among AI stocks, and explains the implications of the Hindenburg Omen. Mark also shares insights on investment strategies, emphasizing the importance of being cautious while identifying potential buying opportunities in the market.TakeawaysThe AI thematic is driving the current market trends.Concerns are rising about the narrowing breadth of the rally.The Hindenburg Omen indicates potential market corrections.Market breadth is crucial for understanding overall market health.Investors should be cautious but look for buying opportunities.30-40% of the time, no major correction follows the Hindenburg Omen.Iron ore prices are showing signs of a rally.The market is mixed, with some stocks performing better than others.Recent earnings reports have influenced market sentiment.It's important to analyze data critically and not fall for hype.