Podcast
MPC Markets Morning Call
Hosted by MPC Markets · EN
The MPC Markets Morning Call is a daily Australian stock market podcast hosted by Mark Gardner, Founder & CEO of MPC Markets. Published every weekday before the ASX opens, it covers overnight Wall Street moves, ASX sector outlooks, commodities, currencies, interest rates, and geopolitics ,everything Australian investors need to start the trading day. Mark brings nearly 30 years of experience across equities, derivatives, and structured investments. New episode every weekday morning. Subscribe for your daily pre-market briefing.
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Episodes
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Stocks higher on Inflation Delusion
Jul 1500:07:57Tap to summarizePPI dropped to 5.5%. The target's 2%. The market's partying like inflation's fixed — it isn't. Fifth day of US strikes on Iran, Hormuz still closed, crude grinding higher. All that inflation relief is about to unwind. Hot money flipping between chips and hyperscalers daily. Margin lending up $400bn with zero downside protection. Copper the real story — Rio doubled earnings growth, BHP reports today. Plus: why the MOU might have been a 60-day executive powers reset, and why a September government shutdown is near-certain.
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Soft CPI Gives the Fed Cover & Relief Rally
Jul 1400:17:38Tap to summarizeCPI dropped to 3.5% and stocks bounced, but we think the celebration is premature — it's still well above target and mostly driven by oil prices rolling back. Bank earnings were a mixed bag: Goldman Sachs up 9% on record trading, JP Morgan posted record profit, but Citi fell 5%. We break down why the trading desks are carrying these numbers and what it means for the sector.The bigger story: retail margin lending has ballooned to $1.4 trillion, fund managers have almost no cash to buy a dip, and put volumes are at the floor. We explain why that setup makes us short-term cautious and what we're doing about it for clients — including a structured investment that caps downside while keeping upside exposure through a look-back entry mechanism.Plus: gold and copper bouncing, crude pulling back, TSMC guidance tomorrow, and why the ASX should have a decent day off the back of bank earnings and commodity strength.
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Wall Street Slides on Chip Rout and Hormuz Closure
Jul 1300:18:12Tap to summarizeOil's back at $80 and the Iran war is officially back on. Trump reimposed the Hormuz blockade and demanded a 20% toll on all shipping. Chip stocks got hammered after SK Hynix plunged 15% in Seoul and the KOSPI hit another circuit breaker. The S&P 500 fell 0.8%, Nasdaq dropped 1.6%.Fed Governor Waller says another hot inflation print is "signal, not noise" — markets now price 50-50 odds of a July hike. US CPI tonight. All five major US banks report today.We cover the Hormuz shipping collapse, copper's quiet grind higher, Europe's jet fuel crunch, gold under pressure, and portfolio positioning at elevated levels.
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Stocks to Open Lower as Hormuz Shuts Again
Jul 1200:16:10Tap to summarizeThe US-Iran ceasefire is dead. Four days of strikes, 300 Iranian targets, and Tehran has closed the Strait of Hormuz until further notice. Trump says it's open — the satellite data says otherwise. Oil up 3%, ASX futures down half a percent.Meta surged 6% on an AI compute upgrade. SK Hynix debuted with the largest-ever foreign IPO on the Nasdaq at $26.5B. Netflix slipped on subscriber engagement concerns.Mark flags the risks stacking up: record margin debt, fund managers with no dry powder, near-record-low put/call skew, and hyperscaler CapEx inflation heading into earnings. None fatal alone — together they're worth watching. Full detail in our Be Fearful When Others Are Greedy episode.Week ahead: US bank earnings (JPM, BofA, Goldman, Citi), TSMC, BHP ops review, Netflix, CPI Tuesday. Plus Buy the Dip closing mid next week — details at https://mpcinvest.co/BuytheDip
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Chips Rally as Markets Shrug Off Iran Strikes
Jul 1000:16:01Tap to summarizeChip stocks powered Wall Street higher as investors brushed aside U.S.–Iran strikes. S&P 500 +0.8% to 7,541.83, Nasdaq +1.3%. SK Hynix raised $26.5B in the largest foreign IPO in U.S. history. Meta up 4.7% on AI chip production plans, Muse Spark 1.1 launch, and cloud business exploration. Crude fell ~2% despite 170 U.S. strikes on Iranian targets after Trump said Iran called wanting a deal. Leverage in equity markets hitting alarming levels. Fed's Warsh named five task forces with serious firepower to overhaul how the central bank operates. Week ahead: CPI Tuesday, PPI Wednesday, big bank earnings kick off with JPMorgan and BofA, TSMC Thursday. Bulls vs Bears podcast out tonight ~6pm.
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War On Risk Off Stocks Drop
Jul 800:19:18Tap to summarizeTrump declared the Iran ceasefire "over" at NATO, launching a second day of strikes as markets closed. Oil surged past $80 before settling at $78.55. The S&P dipped 0.3% while chip stocks bounced. Fed minutes showed a split committee on rate hikes under new chair Warsh. We break down the Iran escalation, oil dynamics, Hormuz traffic, Nvidia's China chip deal, the IMF growth downgrade, bond yield spikes, earnings season risks, and why portfolio hedging matters right now.
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Stocks Lower led by Chips & Ceasefire Break
Jul 700:16:53Tap to summarizeSamsung's record profit wasn't enough. Chip stocks got hammered across the board, with the Philly Semis down 4.7% and Intel off nearly 10%. The US hit Iran with fresh strikes and revoked its oil sales waiver after three tankers were attacked in the Strait of Hormuz. Crude surged 5%, gold dropped, and bond yields hit a four-week high.But here's the thing — most S&P 500 stocks rose. Money is rotating out of tech, not leaving the market. We break down what that means, plus SpaceX's rough first day on the Nasdaq 100, SK Hynix's monster IPO, the VIX sitting at cycle lows, and what to watch for Wednesday including the Fed minutes.
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Chips Bounce Back as AI Trade Gets a Second Wind
Jul 700:10:51Tap to summarizeChip stocks snap a two-week losing streak on light post-holiday volume. AMD, Broadcom, TSMC all up big — Nvidia lagged on delay rumours. Dow at a record, S&P within 1% of highs. Bitcoin up nearly 10% in five days. Former Japanese currency czar says yen undervalued by 20%. Fed Chair Warsh testifies tonight, first-under-Warsh minutes out Wednesday. ASX news: Lynas, South32, Netwealth, VanEck's AI ETF. Daily market briefing with Mark Gardner at MPC Markets.
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Dow hits Record, Chips Crater
Jul 300:12:35Tap to summarizeDow hits record 52,899 but chip stocks crater. June payrolls: 57k vs 115k expected. Rate hike odds slashed. We cover the jobs miss, what it means for the Fed, Meta's $145B AI capex scramble, oil flattening at pre-war levels, gold surging on dollar weakness, and why 87% of the S&P 500's H1 gains came from chips alone. Plus the 1990s Desert Storm parallel for where inflation goes from here. No show Monday (July 4th) — back Tuesday. Catch Bulls vs Bears this afternoon for the full H1 wrap.🔗 mpcmarkets.com.au/podcast📊 Free Mosaic trial: mpcmarkets.com.au/mosaic
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Semis get CRUSHED as GPU Demand Slashed
Jul 100:15:47Tap to summarizeBook a Portfolio Review: https://www.mpcmarkets.com.au/portfolio-review/Semiconductor stocks were hammered today after reports that OpenAI has dramatically cut inference costs through software optimisations — slashing GPU requirements for large parts of ChatGPT traffic. The SOX Index fell over 6% in its worst session in months, hitting Nvidia, AMD, Intel and chip equipment names hard after one of the strongest quarters on record.In this episode we break down what this means for the AI infrastructure trade, whether hyperscaler capex is at risk of slowing, and how the market is digesting the shift from training-heavy to inference-heavy dynamics. We also cover progress in US-Iran talks in Doha on the Strait of Hormuz and frozen assets, which helped ease oil supply concerns.Plus, Fed’s Kevin Warsh struck a dovish tone on inflation risks at ECB Sintra, while fresh ISM data showed pipeline price pressures cooling sharply. We discuss positioning implications across equities, energy, gold and what to watch as US markets head into the July 4th holiday.
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