Rachel Rees

Earnings and AI fears drive ‘extreme’ churn in US stock market Gap between large moves in individual equities and subdued index performance hits highest since global financial crisis

Earnings and AI fears drive ‘extreme’ churn in US stock market ft.trib.al/Cm7yRGi

More lovely charts by @jonathanvincent.bsky.social, showing the huge rotation in US stocks as the anything-but-tech trade gathers momentum.

Tech was the main driver in US stocks until Oct — now it's last among the S&P 500's 11 sectors

as.ft.com/r/a3d9e607-f...

Retail investors just keep buying silver, even after it plunged 27% in one day and deepened its falls last week

Great chart by @jonathanvincent.bsky.social, showing how retail poured $430mn into the metal's ETF as & after the price collapsed, drawn by its "sex appeal"

as.ft.com/r/415c75be-1...

Retail traders double down on silver even as price plunges Precious metal’s wild swings in price have only boosted its ‘sex appeal’ for individual investors

Nice hit from @rachel-rees.bsky.social on retail investors pouring into silver despite those massive price falls
www.ft.com/content/3183...

but they’re stopping knife crime by employing young people to stand outside stations and ask for donations to stop knife crime by employing young people to stand outside stations and…

(Ironically such a successful model that it now has tons of copycats -
www.londoncentric.media/p/inside-suc...)

Memory chipmakers are the new hot stocks in the AI trade as the Mag 7 rally fizzles

Supply shortages have unleashed "eyewatering" gains for the once unsexy sector — and billions in profits for some hedge funds

Read here: as.ft.com/r/fabb2746-3...

with @tim.fo, charts by @raydouglas.bsky.social

Memory stocks soar as investors hunt for new AI winners ‘Insatiable’ demand and supply bottlenecks drive rally in once-unglamorous sector

Memory stocks soar as investors hunt for new AI winners ft.trib.al/WZitrcL

The Stoxx Europe Aerospace and Defence index has surged nearly 15% this month as investors bet that domestic military spending will have to keep rising. ft.trib.al/OcrKrVp

The pitfalls of sell-side research in the Trump era: Venezuela edition ‘ . . . with our change in view having been quickly overtaken by events . . .’

Amid all the Venezuela fallout, spare a thought for the poor Barclays analyst who downgraded Venezuelan debt a mere 14 hours before Maduro was ousted, citing the low likelihood of a political transition.

full alphaville here: www.ft.com/content/bbc4...

with help from @robinwigglesworth.ft.com

Re-tweet?
Rees-tweet?
Reeves-tweeves?

Rees writing on Reeves? Reeves writing on Rees!

read my @financialtimes.com story on FTSE 100 hitting 10k here - or via the chancellor's X account if that's your preferred medium

(analysts disagree with the whole 'vote of confidence in uk economy' thing, but anyway...)

as.ft.com/r/aa19ad04-c...

Plus, the turmoil in global stocks in the days after Trump's 'liberation day' tariff announcements - the biggest daily % moves outside of the 2008 crash and the start of Covid

More fun charts on $, gold, bitcoin, and gilts at the link above!

This amazing animation by @raydouglas.bsky.social shows just how many $tns in value US big tech companies gained this year - and how Nvidia doubled its market cap April-Oct to leapfrog to the top

More @financialtimes.com 2025 markets charts to go with your mince pies here as.ft.com/r/d8b0748f-6...

The stock market winners and losers of 2025 [FREE TO READ] Chips, gold and guns have triumphed while ad companies and private equity struggled

2025's big winners and losers in the stock market -- and not a US tech company among them

chips! metals! guns! banks! robinhood! ads! yoga pants!

from me and a collection of the @financialtimes.com's finest, with lovely data viz by @jonathanvincent.bsky.social

as.ft.com/r/441bc00c-0...

Asian chipmakers and European defence companies are among the biggest winners on stock markets in 2025 while US consumer stocks have suffered, as the artificial intelligence boom and Donald Trump’s trade war became major dividing lines for global equities. ft.trib.al/nTKDvuD

FT journalists pick their favourite non-FT articles of the year Everything you should read that we didn’t write

The FT's favourite non-FT articles of 2025 www.ft.com/content/72d0...

Bullish investors pile into stocks as cash levels sink to record low Fund managers most optimistic since 2021 despite worries over tech valuations, Bank of America survey shows

Pulling out all the stops... asset managers' cash holdings fall to a record low, report @rachel-rees.bsky.social + @emilydherbert.bsky.social
www.ft.com/content/3502...

London's other sewage scandal London Centric chases illegal sewage from a single polluting pipe on its toxic journey across the capital.

V proud of this one -- it was my final big project before I left @jim.londoncentric.media to join the FT in September, and Jenny's wonderful pics really bring the scandal to life in all its disgusting glory.

Please do give it a read!

www.londoncentric.media/p/misconnect...

This is a story about one property's pollution of London's waterways.

But it's one of many. Experts say there could be 10,000s more cases across the capital, collectively dispatching “Middle Ages levels of sewage” into the Thames.

How is untreated sewage from this upmarket Crouch End street polluting a Tottenham park -- and threading its way via the Walthamstow Wetlands & Hackney Marshes to the Thames?

In today's London Centric, my deep dive into a small cog in one of the capital’s worst sewage scandals: misconnections.

big banks say big US stocks will get bigger! despite recent AI jitters

Binky Chadha, chief US equity strategist at Deutsche Bank, told me yday: “Everyone characterises my forecast as bullish — I’m concerned it’s not bullish enough”

With great data vis by @jonathanvincent.bsky.social

Sterling jumps as business survey triggers unwinding of negative bets Better than expected activity adds to dollar weakness to send currency to highest level since October

Sterling jumps as business survey triggers unwinding of negative bets on.ft.com/3Y5qjbr

Currency traders bet against sterling ahead of Budget Investors buy option protection on fears Rachel Reeves’ tax-raising measures could hurt growth

Traders gobble up sterling puts as they position for a Budget that will add to downward pressure on the pound. By @rachel-rees.bsky.social + me
www.ft.com/content/fefd...

The tax-efficient wheels of British government on.ft.com/49kjud8

vital public interest stuff from me & @ramshodgson.bsky.social

a gov figure told FT that the Cycle to Work scheme was "tax breaks to high earners buying £4,000 e-bikes for weekend rides in the Surrey Hills"

so for fun here's some charts on the £120 to £2,996 bikes being bought by gov employees

End of The Line: how Saudi Arabia’s Neom dream unravelled Mohammed bin Salman’s utopian city was undone by the laws of physics and finance

NEW: The End of the Line: the centrepiece of Saudi Arabia’s Neom gigaproject - a 500m tall, 170km long wall-like building intended ultimately to house 9 million people - can’t get out of the ground, say more than 20 former Neom architects, engineers and senior executives.
ig.ft.com/saudi-neom-l...

thank you Stephi!!!

Thank you Rachel, really glad to hear that!