MPC Markets Morning Call
by MPC Markets
The MPC Markets Morning Call is a daily Australian stock market podcast hosted by Mark Gardner, Founder & CEO of MPC Markets. Published every weekday before the ASX opens, it covers overnight Wall Street moves, ASX sector outlooks, commodities, currencies, interest rates, and geopolitics ,everything Australian investors need to start the trading day. Mark brings nearly 30 years of experience across equities, derivatives, and structured investments. New episode every weekday morning. Subscribe for your daily pre-market briefing.
Episodes
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Stocks Hammered as Blue Wave Drowns Chip Stocks
Chip and AI stocks were absolutely belted as the blue wave and data-centre NIMBYism hit the market. The SOX is back to April levels, NVIDIA and AMD gave back recent gains (and more), and the narrative flipped overnight from “AI forever” to “no one will ever build a data centre again.” We push…
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Stocks Shoot Higher on Blue Wave
A Democratic sweep that almost no one had priced in. The equal-weight S&P made a record high, oil was belted, and data-centre stocks got hosed as voters made cost of living and the war their top priorities. We run through the exit-poll numbers, the lame-duck session ahead, why prediction markets...
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AI Trade Bounces Back as America Votes
The AI trade bounced overnight as America votes in the midterms. Semis rose 2.6%, their first gain in five sessions, and AMD jumped about 9% after the bell on a beat across the board. Mark Gardner and Jonathan Tacadena break down what's driving the rotation in and out of AI, and why the market is...
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Market Calms into Mid Term Election
Night before the midterms. The AI trade has finally paused for breath. Chip names continue to drift — Microsoft, Micron, AMD, Intel. Rotation back into the broader market is visible and the leverage that was stacked into the semiconductor complex is starting to unwind. Energy took a hit on oil’s...
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Market Gets Wake Up Call as Investors Abandon AI
Friday’s sell-off hit the biggest AI and chip names. Intel fell about 28.6%, its worst day since 1974 ⚠️, and AMD and Qualcomm each dropped around 11%. Nvidia fell 4.5%. The Nasdaq wiped out roughly $2.6 trillion in October, and the market’s focus has shifted to free cash flow. Mark and the team...
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AI Stocks Smashed on Hyperscaler Cash Burn
AI stocks were smashed overnight as the hyperscalers reported surging capex and weakening free cash flow. Amazon missed on EPS and revenue, Google posted its first negative free cash flow quarter since listing, Meta got hit, and Intel guided Q4 sales below expectations. Microsoft was the only big...
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Microsoft up, Google down, and a Fed that talked like it was hiking.
Microsoft up, Google down, and a Fed that talked like it was hiking.Thursday 29 October. Microsoft’s Azure grew nearly 50% to $33 billion, with a $677 billion backlog, and the market called it the most responsible approach to AI spending. Google Cloud grew 103%, but free cash flow went negative…
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Chip Stocks Back! as Meta Passes Around the Funding Hat
Chip stocks bounced again overnight, with the SOX up 3.6%, the Nasdaq up 1.2% and the S&P 500 up 0.6%, while Meta went looking for more funding for its AI build-out. Mark Gardner and Jonathan Tacadena cover the hyperscaler free cash flow divide, why CoreWeave and Firmus have faded from the...
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Chips Rally as Anthropic Files for IPO
Anthropic has filed for IPO and chips are bouncing. Mark Gardner and Jonathan Tacadena break down what it means for markets on the MPC Markets Morning Call, 27 October 2026. In this episode: 0:00 Intro and general advice warning 0:39 Chip stocks bounce, Tesla jumps on a Barclays upgrade 1:45...
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Stocks Weighted Down by Oil Massive Week Ahead
Stocks were weighed down Friday night by oil pushing toward 2026 highs (highest Brent/WTI settlement since late April), not by chips. Energy names rallied while the broader market stayed soft. Chips bounced and cybersecurity stocks lifted on the WordPress/PHP vulnerability. This week brings...
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Worst Day Since June as Tech Goes Down with the Chip
Nasdaq had its worst day since June as the AI and chip trade was aggressively unwound. Equal-weight S&P rose while the headline index fell, highlighting how concentrated the damage was. Mark Gardner covers: The sharp sell-off in chip and AI names (Meta, Lam Research, NVIDIA and others) Trump’s...
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SpaceX Fires up AI as Tesla & Meta Beat
SpaceX lit up the AI trade overnight while Tesla and Meta both beat after the bell. Chips bounced hard (Supermicro +9.5%, Nvidia and the rest green), Tesla free cash flow came in positive $1.53bn against a cash-burn forecast, and Meta’s Q4 guide beat consensus. AT&T sold off despite beating…
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Oil Cools Dow Jumps as Earnings Deliver
Oil spiked then faded and the Dow pushed higher overnight as US earnings did the heavy lifting. Mark Gardner covers the overnight session and the ASX open. Brent topped US$110 intraday on fresh Hormuz tanker attacks before settling ~1% lower. US pending home sales fell 7.3% — the worst since…
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Tech Rebounds as Chips Snap 8 Day Slide
Chips snapped an eight-day slide overnight, with Amazon leading tech higher (+5%) after Morgan Stanley tagged it a top earnings-season pick and Intel bouncing on a JP Morgan upgrade. CoreWeave found defenders despite debt worries, the banks lagged, and Tesla rose as Elon pledged a SpaceX share to...
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Oil tops $100 AI Rout as Chips Sink for 8th Day
Oil tops US$100 and Brent clears US$110 as the AI sell-off rolls on — chips have now fallen for eight straight days, their longest losing run since 2008, shedding more market cap than the entire ASX 200. Mark and Phil cover the AI unwind (Broadcom, Micron, AMD, Intel, Lam Research, Applied...
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Rally Broadens as Investors Abandon Chip
The rally broadens as investors abandon chip stocks for a seventh straight session. Mark and Friday Phil cover a session that was green everywhere except semis — Nvidia -1.8%, Dell down ~22% in three days — while gold and silver miners, lithium, healthcare and software led the “great rotation”...
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Tech Stocks Smoked as Inflation comes in HOT
Tech stocks took an absolute beating overnight — the SOX fell 4.3%, now 20% off its peak and down for a sixth straight day, with every data-centre name (Nvidia, Intel, AMD, Oracle, Dell) sold off. Mark Gardner covers a shaky start to US earnings season (Bank of America down ~6% on a surprise...
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Fed Williams caps Rate Hikes but Stocks Still Slide
Fed’s Williams signals one more hike then done — bond yields dropped 10bps but stocks still slid. We break down: Micron’s 3.6% drop on China’s CXMT chip news (and why it’s an overreaction), JP Morgan’s first earnings miss since 2023 while Goldman crushed it, the lithium bloodbath (PLS -8.6% in a...
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Chips Slide and Oil Climbs as Wall Street Waits on Bank Earnings
A quiet night with US bonds shut for Columbus Day. Mark Gardner runs through chip stocks sliding, Brent up about 2% on reports of a tanker hit in Hormuz, Meta's new Muse AI model, upgrades for Salesforce and eBay, and Starbucks ruling out Chipotle. Locally: Maas down 15% after Firmus pulled its...
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Stocks Shrug off Oil & Bonds into 1st Week of Earnings
Stocks Shrug off Oil and Bonds into 1st Week of Earnings Wall Street finished Friday within striking distance of all-time highs as investors brace for Q3 bank earnings this week. The S&P 500 rose 0.59%, the Dow gained 0.83% and the Nasdaq added 0.64% — all three logging weekly gains. Analysts...
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Tech Stocks Whacked on OpenAI & Firmus Concerns
US semiconductor stocks were hammered after an FT report pegged OpenAI’s annualised revenue at ~$50 billion, roughly $20 billion below prior estimates. The SOX dropped 3.4%, Brent crude surged 4% past $104 on Strait of Hormuz attacks and Gulf Coast hurricane shut-ins, and Treasuries rallied with...
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Stocks Retreat from Record Highs
Wall Street snapped a four-session win streak as 10-year and 30-year Treasury yields surged to their highest levels since 2002. Fed minutes revealed all 19 officials backed September's rate hike, with most signalling another by year-end. Brent crude settled near US$100 amid ongoing Hormuz…
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S&P 500 Hits Record as Earnings Optimism Outweighs Bond Rout
Wall Street surged to all-time highs overnight — the S&P 500 closed at a record 7,820.85 and the Nasdaq hit 27,599.79 as six of the Magnificent Seven advanced on renewed AI and chip stock enthusiasm. G7 nations agreed to release 100 million barrels of emergency reserves, Constellation Energy…
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Tech Stocks Ignore Bonds to Drive Nasdaq to Record High
The Nasdaq closed at a record high overnight — up 1.05% to 27,477 — even as US 10-year yields hit 5.35%, their highest since 2002. With European bonds under pressure, private credit gating redemptions, and inflation eroding cash, big tech is starting to look like the only safe haven left. We…
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Stock Gains Capped by Global Bond Rout
The US 10-year yield hit 5.34%, the highest since 2002, before reversing after Fed Vice Chair Jefferson signalled patience on further hikes. The S&P 500 recovered to close up 0.2% but the ASX 200 bore the brunt, falling 2.0% to its lowest since June. Brent crude surged 4.3% on a third US carrier...
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Soft Inflation not enough to save September
Cooling US inflation data sparked a morning rally, but Wall Street gave it all back in a brutal final-hour selloff. The Dow dropped 0.86%, the S&P 500 lost 0.25%, and bond yields hit multi-decade highs with the 30-year at 5.638%. Micron smashed earnings — revenue up 256% year-on-year — but the…
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Stocks Stumble as Oil and Yields Stay Bid
Wall Street finished lower as the US 10-year yield touched 5.27% — a fresh 19-year high — and Brent crude held above US$105 on Iran–Strait of Hormuz tensions. Gold and silver were smashed 3–5% as surging real yields crushed non-yielding assets. In this episode, Mark and Phil cover: - US 10-year…
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Stocks Grind Higher as Geopolitics Weighs
Stocks Grind Higher as Geopolitics Weighs | 28 September 2026 Wall Street rebounded Friday — Dow +0.93%, S&P 500 +0.51%, Nasdaq +0.48% — led by Microsoft's Copilot refresh and easing oil as Iran proposed a seven-day Hormuz reopening. But Trump rejected the deal on Saturday, putting the war…
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Stocks mixed despite Higher Oil & Bond Yield Spikes
US equities finished a choppy session little changed on Thursday, with the S&P 500 easing 0.02% to 7,704.13, the Dow down 0.3% to 51,349.98 and the Nasdaq up a marginal 0.01% to 26,939.37, as a bond-market rout and a fresh spike in oil offset any comfort from the Trump–Xi summit in Washington.…
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MPC Morning Call 24th September - Bond Yields Rocket Higher
US 10-Year Yield Smashes to Record Highs — Bond Market Sends a Warning Jonathan Tacadena hosts today's Morning Call as the bond market delivers the story of the day: the US 10-year yield rocketed from ~4.95% to 5.11% overnight, a fresh record high and one of the sharpest moves in recent memory....
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MPC Morning Call 23rd September 2026
MPC Markets Morning Call — 23rd September 2026: Copper Smashes Record Highs as NASDAQ Grinds to New Peaks Jonathan Tacadena and Finn Judell run the show today while Mark and Phil are in Brisbane, running through overnight markets and the levels to watch before the ASX open. In this episode…
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Investors Brush Aside Macro in Favour of AI Optimism
AI optimism is back with a bang. The Nasdaq closed at its first record high since June as Meta's new AI agent, Muse, sent the stock up more than 11% and dragged chip names like Intel and Arm along for the ride — even as Nvidia lagged. Mark and Phil unpack why "inference" chips are having their...
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Triple Witching keeps stocks Mixed, Weekend Riyadh Strikes see Oil up
Triple Witching Keeps Stocks Mixed; Weekend Riyadh Strikes See Oil Up Monday 21st September 2026 $7 trillion in options expired on Friday's triple-witching session — one of the largest on record — keeping US indices range-bound. S&P 500 +0.17%, Nasdaq +0.40%, Dow -0.18%. Semiconductors were the...
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Stocks Rally on… Who knows?
Wall Street bounced back overnight led by chip stocks and Nvidia ahead of quad witching expiry, but the broader market had little to offer. The Dow is still down 1.5% for the week, and we can't quite work out what drove the rally. Today we cover the weekly wrap across US indices…
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Fed Hikes and Signals More Hikes
The Fed just hiked for the first time since 2023 — 25bp to 3.75%–4.00%, unanimous — and Chair Kevin Warsh warned inflation is "too high and has been for too long." Sixteen of eighteen policymakers see at least one more hike this year, and the dot plot doesn't project 2% inflation until 2029. Wall...
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Oil and yields Higher into Fed Decision
The 10-year yield cracked 5.04% (highest since 2007), Brent surged past $108, and Wall Street fell again ahead of the Fed's first hike in three years. Mark and Kai cover the yield breakout and why the calm after it is unnerving, the oil supply crunch from Saudi Arabia to Libya, Jensen Huang's...
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Stocks Bounce from Euro Session Lows as Cyber Security rockets
Wall Street recovered from sharp early losses but still finished red as the PHLX chip index plunged 5.9% on AI safety fears while software names rallied. The 10-year yield briefly breached 5%, crude holds above $101 on Saudi pipeline shutdowns, and a Fed rate hike is now 92% priced for Wednesday....
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Triple Threat Hike Locked Pipeline Down AI Paused
Triple Threat: Hike Locked, Pipeline Down, AI Paused — Monday 14 September 2026 Three weekend shocks hit at once. The Fed hike is 87% locked after hot CPI, Saudi Arabia shut the east-west pipeline as Hormuz attacks worsen, and the biggest names in AI — Dario Amodei, Elon Musk and Sam Altman —…
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Higher Oil Inflation & Yields Sink Stocks
Higher Oil, Inflation & Yields Sink Stocks — Four straight sessions of losses on Wall Street as WTI crude tops $103, August PPI runs hot at 5.4% Y/Y, and the ECB hikes rates to 2.5%. The 10-year Treasury yield hit 4.96% with Fed rate hike odds now at 73% ahead of next week's FOMC. The Strait of...
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Stocks Continue Slide as Oil Tops $100
Oil tops $100 as Middle East war escalates | Treasury buyback disappoints | Apple unveils $1,999 foldable iPhone Brent crude surges above $101 after U.S. strikes destroy five Iranian oil tankers and Tehran retaliates with missile attacks on a Jordanian base and commercial vessels. The oil shock...
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Stocks Drop on Triple Threat of War Oil & Higher Rates
Stocks cop a beating as war, oil and higher rates converge. Mark Gardner unpacks a rough overnight session — declining stocks outnumbered advancers 2.5-to-1 post-Labor Day. Houthi strikes hit Saudi's Jizan refinery, reported explosions near Kharg Island, and Hormuz flows are down roughly half…
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Stocks Drift as Oil Approached $100 Again
Stocks Drift as Oil Approached $100… Again A short one with US markets closed for Labor Day. Brent crude is pushing toward $100/bbl and diesel has hit another record — 90% above pre-war levels, feeding directly into inflation across logistics, transport and food. WTI jumped 10% last week. Copper...
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Jobs Blowout Sends Stocks Lower on Hike Fears
Stocks closed lower on Friday after August nonfarm payrolls smashed expectations at 162,000 — nearly triple consensus — pushing Fed rate hike odds above 60%. Over the weekend, the US–Iran tanker war escalated in the Strait of Hormuz as Washington destroyed three Iranian crude carriers. Mark and...
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Waller Sparks Rally as Fed Hike Bets Ease
Wall Street surged more than 1% overnight after Fed Governor Christopher Waller said he is inclined to hold rates steady later this month if inflation data continues to cool, slashing the probability of a September rate hike from near 70% to a coin flip. The S&P 500 climbed 1.1% to 7,747.71 for…
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Stocks break 3 day losing streak on Dell & Nvidia
Stocks break a three-day losing streak as Dell surges 16% on record AI server demand and Nvidia gains 3.2% on Hugging Face acquisition talks. Broadcom disappoints after hours. The Japanese yen jumps nearly 1% as BOJ hawks signal outsized rate hikes — Japan's 10-year yield breaks above 3% for the...
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Oil spikes higher, Stocks fall. MPC Markets Morning Call. 2nd September 2026
MPC Morning Call — 2 September | Oil Spike, September Seasonality & the Stagflation QuestionJonathan Tacadena and Phil step in to run the Morning Call with Mark Gardner on Father's Day duties.Spring kicks off with a risk-off tone across global markets after an overnight oil price spike driven by...
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Stocks Drift Lower as Iran Escalates
Wall Street edged lower in quiet Labor Day eve trade as US–Iran strikes resumed around the Strait of Hormuz, sending oil up ~3.5% and bond yields to multi-year highs globally. Markets now price a 64% chance of a September Fed rate hike after Warsh's hawkish Jackson Hole speech. Energy and...
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Stocks Lower as Warsh Talk Tough on Inflation
Fed Chair Warsh rattled markets with a hawkish Jackson Hole debut, sending two-year yields surging 12 basis points and rate-hike odds above 50% for September. The S&P 500 fell 0.25%, the Nasdaq dropped 0.52%, and the Russell slipped 1.4% as chip stocks led the sell-off — Nvidia down 4.5% despite…
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Tech Jumps as Jensen Delivers
Nvidia delivered a blockbuster — $92B in quarterly revenue (+106% Y/Y) and 70% forward growth guidance — adding $440B in market cap and carrying Wall Street higher while every other sector fell. Salesforce surged 23% on its Anthropic "Claudeforce" partnership and CrowdStrike jumped 20%, giving…
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SaaS & Nvidia drive market higher
Nvidia's Q2 blowout ($96.2B revenue, +106% Y/Y) and a massive 2M GPU deal with AWS couldn't stop the stock slipping ~2% after hours. But the bigger story overnight was the SaaS resurgence — Salesforce +12%, CrowdStrike +12%, Okta +17% — as quality software names with a moat proved the...
About this show
The MPC Markets Morning Call is a daily Australian stock market podcast hosted by Mark Gardner, Founder & CEO of MPC Markets. Published every weekday before the ASX opens, it covers overnight Wall Street moves, ASX sector outlooks, commodities, currencies, interest rates, and geopolitics ,everything Australian investors need to start the trading day. Mark brings nearly 30 years of experience across equities, derivatives, and structured investments. New episode every weekday morning. Subscribe for your daily pre-market briefing.
Hosted by
MPC Markets