AI and record highs: markets, gold and Bitcoin

AI and record highs: markets, gold and Bitcoin

After yesterday’s records, focus on rate cuts, the macro agenda and leading sectors: equities still in the spotlight.

At a glance (yesterday)

Global equities are near all-time highs: the S&P 500 and Nasdaq closed at new record highs on Monday, 6 October, driven by AI (AMD rally after a major deal with OpenAI). In Asia the Nikkei hit fresh peaks; in Europe, indices remain elevated despite some profit-taking in London. At the same time, gold set a new intraday record high near $4,000/oz; Bitcoin also approached its all-time highs.

Today, Tuesday 7 October 2025: opening tone and sentiment

In European and US futures the tone is cautiously positive, with indices “still up there” after yesterday’s peaks; a firmer dollar has slightly tempered momentum, but the backdrop remains constructive.

This week’s calendar

• Euro area – Retail sales (August): +0.1% m/m; +1.0% y/y (Eurostat estimate).
• USA – FOMC Minutes (meeting of 16–17 September): release Wednesday, 8 October at 14:00 ET (Fed calendar).
• Other events: Fed/ECB speeches, EIA inventories, German trade data tomorrow; earnings season around the corner.

Equity focus: where the market is moving

• Tech & semiconductors (AI): the OpenAI–AMD deal sparked broad-based buying in chips and software, with the semiconductor index at new highs; part of the short-term narrative remains tied to rate cuts expected by year-end.
• Europe/UK: after five positive sessions, the FTSE 100 slightly pulled back yesterday (profit-taking and single-stock stories) but remains near record highs.
• Commodities and related names: gold at a record high continues to support miners, confirming safe-haven demand in a context of anticipated monetary easing.

What to watch in the coming days

1. Central-bank messaging (FOMC Minutes and speeches): markets remain sensitive to the path of rate cuts.
2. Europe/US macro: euro-area consumption (retail) and early hints on Q3 earnings as tactical drivers.
3. Valuation risks/opportunities: indices at new highs with concentrated leadership; sustainability will depend on earnings breadth.

AI outlook and “small caps” to watch

The AI ecosystem remains the main driver of sentiment and capex: the wave of investment (data centers/chips) supports equities but can amplify volatility. Downstream in this value chain, some “smaller” listed names could benefit over the medium term:

• Oklo (OKLO, USA): developer of micro-nuclear reactors, listed via business combination with AltC. The theme is reliable energy for data centers and industry: if projects scale, AI–power demand could act as a bridge between tech and energy. (Note: already listed; always verify site authorization/regulatory status.)
• XtalPi (2228.HK, Hong Kong): AI platform for drug and materials discovery/development; listed in Hong Kong. Interest is growing where AI shortens R&D timelines and costs, with potential contract milestones as catalysts.

These are not recommendations, but examples of AI-enabled niches (modular nuclear energy, AI drug discovery) that could become growth stories, especially if earnings validate the investment thesis in a scenario of record highs and gradual rate cuts.

Disclaimer: The information in this article is for informational purposes only and does not constitute personalized investment advice. Past performance is not a guarantee of future results.