Benoist Rousseau — Trader, CME member, economic history specialist trained at the Sorbonne — Stocks, Trading, Economy • EN

This episode explores the new fundraising record on Wall Street set by SK INX's $26.5 billion IPO on the Nasdaq. Surpassing Alibaba's 2014 milestone, this initial public offering provides a lens to examine supply and demand mechanics, the central role of memory chips for AI, and the ripple effect on competitors like Micron and SanDisk. We also explore the stark contrast between these stock market...

Chips and the Fed kick off this episode with a simple idea: the market punished what were, in fact, outstanding results. I revisit Samsung, whose profit multiplied 19-fold, the decline in tech stocks, the pressure from DeepSeek, and the Nasdaq hitting a major support level. I also explain why the Fed, the FOMC minutes, the rise in oil prices, and inflation risk weighed on the mood, while the Dow J...

Wall Street is starting the week with record highs, but Benoist Rousseau quickly points to the real test: earnings season. In this episode, he connects high valuations, expectations of sharply rising profits, very low credit spreads, and a potential stock market disappointment. He details the contrast between a solid Dow Jones, a more hesitant Nasdaq, and an S&P 500 driven by a handful of gian...

Bond market, yield curve, 2-year 10-year spread: in this episode, I started from today's US jobs report to revisit an old quote from James Carville, who wished to be reincarnated as the bond market. It perfectly summed up the session: this discreet market was still setting the pace for stocks, the Nasdaq, tech stocks, and the interpretation of the NFP. I connected the tension on rates, the risk of...

US jobs report and the stock market: in this episode, I explain why a strong jobs number can worry the stock market. I review the logic connecting inflation, interest rates, the Fed, and stock valuations, against a backdrop of Wall Street at its highs. I also discuss the ADP report, the major monthly employment report, the calm of the bond market via the MOVE index, and the risk of a rate resurgen...

Stock market bubbles, market history: Benoist Rousseau connects the current euphoria to two significant precedents. In this episode, I recount the story of RCA in the 1920s, driven by the radio revolution before the 1929 crash, and then Alcatel during the dot-com bubble of 2000. The common thread remains the same: speculative fervor, technological hopes, overenthusiastic analysts, and then a bruta...

AI bubble, the dollar, US jobs: in this episode, I revisit the Nasdaq correction, the pressure on tech, and the week's real point of tension. My central theme is simple: the strong dollar, Fed rates, inflation, and Thursday's US jobs report are all interconnected. I explain why a very strong labor market can reignite fears of rate hikes, weigh on US stocks, and drive up commodity prices. As a back...

Market breadth: I explain how I read the Dow Jones, Nasdaq, and S&P 500 to determine if the stock market is truly rising or if a few stocks are masking the rest. In this episode, I start from a simple observation: about 6 out of 10 S&P 500 stocks have remained above their 50-day moving average, which indicates a broader rally. I also discuss the rotation out of tech giants, the signal sent...

In this trading episode, I cover the brutal market reversal following Micron's results. The stock market, the Nasdaq, and AI stocks flipped in just a few hours: the week seemed heavy, then a record quarter and outlook well above expectations reignited risk appetite. I also discuss oil which dropped, gold which cracked, Bitcoin which struggled, and the US PCE at 2:30 PM, which has become the real t...

From 1602 to SpaceX, this episode connects stock market history with current market events. We start with the very first IPO, that of the Dutch East India Company in Amsterdam, and draw a parallel with SpaceX, its promises, its collective narrative, and the risk shared with the public. Between historical anecdotes, the psychology of small shareholders, speculation, oil, the Nasdaq, and Trump's ann...

Oracle and inflation dominate this episode of GOOD MORNING TRADING. I review a session where the 4.2% rise in US prices rekindled fears about interest rates, while Oracle posted a record quarter but fell after hours. The focal point wasn't cloud growth or the order book, but the cash burn and the considered debt issuance. I also explain why a market might penalize good results when financing, inte...

US inflation, the CPI release, and Oracle's earnings shape this trading episode. This review covers the Nasdaq's flash crash, extreme market volatility, the subsequent bounce from support levels, and the discipline required for traders when the market accelerates without warning. I also explain why indices often pause before the 8:30 AM ET data release, and I share my analysis method for the Nasda...

In this episode, I discuss Cisco in 2000 to shed light on artificial intelligence euphoria. The company briefly became the most valuable in the world by selling the picks and shovels of the dot-com rush, before losing nearly 80% in 18 months. The parallel with Nvidia, semiconductors, and the frenzy around chips serves as the common thread of the session. I also cover the Nasdaq rebound, Asia, Appl...

Yen, carry trade, and global liquidity: in this episode, I connect the Korean tremor, the risk on equity markets, and an old Japanese mechanism. I explain how the yen at around 160 to $1 remains a barometer, why the carry trade finances part of the flows, and how a movement that is too abrupt can strain the entire chain. The anecdote about Mrs Watanabe sheds light on this backdrop: these Japanese...

Trading and financial markets under pressure: I review the Washington-Tehran standoff following the Iranian uranium decree, and its cascading effects on Brent crude, inflation, and long-term rates (US 10-year near 4.60%). Wall Street closed in the red while Tokyo surged, also driven by the digestion of Nvidia. I explain why major decisions often drop when markets are closed, and why the optimism o...

Nvidia earnings beat the consensus, yet US futures remain slightly in the red: I break down this “buy the rumor, sell the news” scenario. The real issue here is interest rates: the 10-year at 4.68 and 30-year at 5.19, a bond pressure that heavily weighs on market valuations. We take a tour of the Asian markets (Kospi, Nikkei, Samsung, Softbank), followed by the CAC 40 and DAX with their monthly pi...

Nvidia earnings in the crosshairs: I recount this "high-tension" day with Wall Street in the red, long-term rates at a peak (30-year yield close to 5.19%), and a market holding its breath before 10 PM. I look back at the Nasdaq, this monthly support hit in the middle of the night, and the idea of avoiding last-minute bets. To explain the risks on Nvidia's side, I use the analogy of a restaurant: t...

Financial markets are under intense pressure. In this episode, I explain why the Nasdaq 100 has suffered significantly more than the Dow Jones, with the S&P 500 acting as a referee. The core issue lies in the heavy impact of US interest rates—with the 10-year Treasury yield around 4.13% and the 30-year near 5.13%—and how American bonds weigh on AI stocks, which must borrow constantly to mainta...

Morning trading in checklist mode: I start with the economic calendar (few figures, including the New York Fed), then I review Asia with very weak Chinese statistics. Next, an overview of the indices: CAC 40 and DAX in the red, followed by the Dow Jones, S&P 500, and Nasdaq after a historical record and +25% in 6 weeks, weighing the idea of profit-taking. I emphasize technical analysis benchma...

Nasdaq: in this episode, I share my method for a quick market overview. I compare the Dow Jones, S&P 500, and Nasdaq to spot where the weakness is clearest. Then, I observe the annual low and the immediate reaction at the Asian market open, which is useful for reading a support (the 23,000 zone). I integrate the macroeconomic context: the sensitivity of high-tech to rates, WTI crude oil and th...

Technical analysis of financial markets: I break down this Monday morning starting with a technical bounce, but lacking energy. On Friday, indices closed at yearly lows, then Asia printed a new bottom before a gradual return toward the close. I detail the crucial levels to monitor: CAC 40 testing 7,600 down to the 7,500 zone, DAX, and US indices showing a technical recovery (Dow Jones around 45,00...

Trading, frustration, and timing: I recount my evening on the Nasdaq, waiting in ambush at my 740-750 zone while the market slowly slid into an 'ideal' scenario... until a statement from Donald Trump around 9:10 PM caused indices to spike rapidly. I caught a small piece of the rally and quickly cashed out because it was too tense and highly volatile, choosing not to revenge trade through scalping....

Market analysis through a very concrete scene: in the midst of war, channels remain open... but via a shuttle of intermediaries, without face-to-face meetings. I connect this logic to range-bound markets and my hesitation on the Nasdaq around a key level. A bounce was present, but I passed my turn due to an empty order book and a spread that was too wide at the European open. Between geopolitical...

Trading and the stock market are not a game: in this episode, I dismantle the illusion of "easy money" and the panic at the slightest drop. I point out that a 4% swing on an index remains normal, and that those who cry "flash crash" are often using too much leverage. Given the context involving Iran, oil, and geopolitical tensions, I emphasize weekend risk and risk management. "The goal in the sto...

Market news: I recount the morning following the Fed (FOMC) decision, followed by the Bank of Japan and the Bank of Canada, all cautious about the impact of oil prices. In the background, Iran, an attack on a gas site, and the stakes of the Strait of Hormuz heighten tensions ahead of the weekend and the festival of lights. I describe a red market, the Nasdaq under pressure, gold dropping despite i...