Morning Call Worldwide Exchange 1/28/26
Jan 28, 2026
Live market preview and macro setup ahead of the Fed decision. Deep dive into AI supply-chain momentum driven by ASML, SK Hynix and NVIDIA H200 import reports. Semiconductor and tech earnings outlook with potential leadership rotation beyond MAG7. Discussion of UK-China diplomatic moves, European luxury softness, and implications of a weakening dollar for global trade and markets.
AI Snips
Chapters
Transcript
Episode notes
AI Trade Revival Fuels Chip Equipment Demand
- ASML and SK Hynix beat expectations, signaling renewed AI-driven semiconductor demand.
- Memory shortages and foundry capacity constraints are driving strong capex and equipment orders.
China Greenlights NVIDIA H200 Chip Orders
- Reuters reports China approved orders of NVIDIA H200 chips for major tech firms.
- That approval lifted NVIDIA shares and signals Chinese AI buildout demand despite earlier restrictions.
Earnings Week Will Test Tech Leadership
- Tech earnings cadence (Meta, Microsoft, Tesla, Apple) will shape market leadership in coming days.
- Early semiconductor beats set a constructive backdrop but raise the bar for upcoming reports.