Wall Street mit Markus Koch - featured by Handelsblatt

Software bearish | Inflation sehr heiß | Gewinnmitnahmen

·22 min·2 clips

The software sector faces a 'buyer strike' as AI threatens to replace established companies, with the IGV ETF cracking critical support.

The episode begins with Patrick DeWayne welcoming listeners on Friday, April 10th, and noting that CPI data fell within expectations, with core inflation slightly below forecasts at 2.6% year-over-year. He highlights that the Wall Street is holding steady, but software stocks are under severe pressure, with the IGV ETF losing nearly 5%. DeWayne explains that AI is causing a major problem for software companies, leading investors to question their business models and margins. He details specific software stocks like Okta, Snowflake, Palantir, and ServiceNow showing weakness, with the IGV breaking a key support level at $77 for the seventh time. In contrast, he points out that the Dow Jones Transportation and Philadelphia Semiconductor indices are hitting simultaneous all-time highs, suggesting a divergence where semiconductors are now seen as critical to the digital economy. The host then shifts to geopolitical issues, discussing the fragile ceasefire between the U.S., Israel, and Iran, with ongoing risks in Lebanon and the Strait of Hormuz. He also mentions potential supply chain disruptions from a possible blockade of Taiwan, comparing it to historical events. International macro data from China, Japan, South Korea, and Taiwan is briefly covered, showing mixed signals but robust exports from Taiwan. The episode includes advertisements for Handelsblatt and transitions back to market topics, noting that AI remains a driver but faces political scrutiny. Analyst actions are summarized, with downgrades for Autodesk, DocuSign, and ServiceNow, while some stocks like Constellation Brands receive positive ratings. DeWayne concludes with a weekly summary, stating that macro conditions have calmed slightly but inflation and geopolitics set limits, and software sectors are under pressure while semiconductors remain robust. He ends with an anecdote about Bitcoin's creator Satoshi Nakamoto, referencing a New York Times investigation into Adam Beck, and includes a standard risk disclaimer from Markus Koch.

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