Comeback day and a giant sucking sound from Tesla

Today, a look at a massive comeback from further steep selling in US equities, establishing a critical line in the sand for the major indices and especially AI-adjacent names from here, effectively a bull-bear line. Elsewhere, Tesla demonstrated its new Roadster, which can both "fly" for an unknown number of seconds and "suck" itself to the road, allowing for beyond vertical adherence to a road surfaces and supposedly insane cornering abilities. Useful. More importantly, a deep-dive on the global oil picture and the troublesome Brent futures contract with Saxo Head of Commodity Strategy Ole Hansen and so much more on today's pod, which is hosted by Saxo Global Head of Macro Strategy John J. Hardy.

Links

• Elon Musk shows off the supposedly coming-in-2028 Tesla Roadster - an admittedly beautiful car with pointless and over-the-top suck and blow features.
• Robert Pape posts on the doubling of support for political violence in the US, with the anti-Trump respondents more in favour, though we wonder if that is because Trump happens to hold power.
• A Fox News poll puts government corruption at the top of the list of voters concerns, ahead of the inflation and the cost of healthcare. Not sure Trump has a good answer for that one.

Read daily in-depth market updates from the Saxo Market Call and the Saxo Strategy Team here.

Please reach out to us at marketcall@saxobank.com 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.