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1. Tech stocks will get (another) boost from Broadcom's AI demand.

Broadcom reported a 63% jump in AI revenue after the bell Thursday. Shares climbed even after a year-to-date run of +32%, landing the Google chip provider near the top of the tech pack at a $1.4T valuation.

2. “China's Return on Equity (ROE) has bottomed out.”

Morgan Stanley analysts expect a further gradual recovery based on AI tech monetization and persistent shareholder return enhancement activities.

3. What is slowing down the development of data centers?

4. There were 1,135 people worth at least $1 billion in the U.S. as of 2024, according to data from Altrata.

Despite those outsize Silicon Valley fortunes, most U.S.-based billionaires didn’t make their wealth in tech.

About 300 came from banking and finance, compared with roughly 110 from the tech sector. Another 75 came from real estate.
A third of billionaires inherited much or all of their wealth, Altrata said.

5. The bond market selloff is unsettling UK investors.

According to Barclays strategists, the UK’s fiscal situation remains precarious, and uncertainty has increased around policy and possible tax hikes leading into the Nov. 26 budget. “So markets may continue to place a higher risk premium on domestic UK assets,” they say.

While it’s hard to make a bullish case in the near term for the broader UK stock market, the downside also appears limited.

On a relative basis, the FTSE 350 remains among the cheapest benchmarks out there.

Even after a recent re-rating, the gauge trades at a forward P/E of 13.2, a 35% discount to global stocks. That’s despite Britain’s decent economic forecasts and expanding PMIs, which show the highest reading among major European countries.

“Investors are currently price UK stocks as if the country were in a recession with no hope of getting out of it despite the UK showing the fastest GDP growth in the G7,” say Panmure Liberum strategists Joachim Klement and Susana Cruz. “

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