Wall Street's three main indices fell on Friday, with the Nasdaq posting its worst session since early June after Alphabet dropped roughly 12% on its earnings report as free cash flow turned negative. The plunge, paired with Meta's recent US$90 billion capital raise, has heightened investor unease over whether hyperscaler spending on AI can be sustained without straining corporate balance sheets.
Kingsley Jones, Chief Investment Officer at Jevons Global, joins Market Watch on The Morning Run to unpack the diverging fortunes within the Magnificent 7, from Microsoft and Apple's balance sheet resilience to the pressures mounting on fellow tech titans.
He examines what Apple’s new CEO John Ternus must demonstrate to justify its US$5 trillion valuation milestone, how investors should position their portfolios between equities and short-term Treasuries, and the macro implications behind the Reserve Bank of Australia's rate outlook and the Bank of Japan's hawkish pivot.
Tune in for his take on where the risks and opportunities now sit.
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