Chips suddenly on tilt into Micron earnings Wednesday

Today's John J. Hardy Substack post - you won't want to miss today's links! Today, a huge vibe shift overnight as Korean memory stocks come unglued Tuesday, sending US equity market futures into a tailspin. Is this just a bit of retrenchment ahead of Micron's earnings Wednesday after the close or is the market at risk of a bigger air-pocket? Elsewhere, the US dollar is breaking higher, but with USDJPY not participating at the moment on fears of intervention after Bessent-Katayama call. Also, some follow up thoughts on climate after yesterday's super El Niño / AMOC collapse discussion and more. Today's pod hosted by Saxo Global Head of Macro Strategy John J. Hardy. Links discussed on today's podcast and our Chart of the Day can be found on the John J. Hardy substack (within two to four hours from the time of the podcast release). Read daily in-depth market updates from the Saxo Market Call and the Saxo Strategy Team here. Please reach out to us at [email protected] for feedback and questions. Click here to open an account with Saxo. Intro music by AShamaluevMusic DISCLAIMER This content is marketing material. Trading financial instruments carries risks. Always ensure that you understand these risks before trading. This material does not contain investment advice or an encouragement to invest in a particular manner. Historic performance is not a guarantee of future results. The instrument(s) referenced in this content may be issued by a partner, from whom Saxo Bank A/S receives promotional fees, payment or retrocessions. While Saxo may receive compensation from these partnerships, all content is created with the aim of providing clients with valuable information and options.