日本市場の動向
Hi, This is Yaho. I'm a macro-option trader. Today is August 28th, 2025, 6.51am Japan time.
Let's get into today's macro review.
0 Market. Yesterday, the Nikkei closed at 4.25 to 0am, basically unchanged, up just about 0.3%.
The volatility index dropped further to 23.49, coming down from the 2.5 range.
PR stands at 17.57, and EPS is 2.4 to 0 am.
EPS seems to be holding up, showing some recovery. If we can stay above 2.4 to 0 am, that would be encouraging.
Earlier, I calculated the impact of cloud tariffs. With a 1.5% tariff, I expected EPS would fall about 1.5 to 0 am,
roughly 10 yen per 1% tariff. Based on that, today's EPS of 2.4 to 0 am suggests that without tariffs, EPS could be closer to 2.5 to 0 am.
So if we strip out tariffs, corporate earnings don't actually look that bad. That's something worth keeping in mind.
Japan's 13-year government bond deal is now at 3.21%, a bit high. I'm watching that, but overall markets still look fairly stable at high levels.
Stock picking remains active, especially in air infrastructure. Metals like copper and steel are still seeing a strong move.
Nobody has just reported earnings overnight, very strong result. With revenue and profit up by 15%, that benefits materials and infrastructure stocks that support air growth.
Right now, it's clear that the market is betting on AI, but instead of just semiconductors, the focus is shifting to supporting materials stocks.
While the link itself is range-bound, these individual stocks are showing real strength. They might be a key indicator to watch going forward.
U.S. market S&P closed at 6481, up 0.24%. BIX was 1485, basically unchanged.
日本市場の変化
Gold markets were also stable. Gold stood at 3397, up about 0.1%. BTC traded around 112000, overall, and the U.S. market was moving sideways.
Mostly waiting for NABDA earnings. Now that the results are out, with a huge 50% revenue and profit increase, I think markets should react positively.
Yes, there was out after hours of weakness, but overall, NABDA cleared. However, I expect markets to move steady from here.
Personally, no than Spotify. Hard to catch my attention was NABDA, as though it was Spotify news. They announced a new message and future, moving more in the direction of social networking, SNS.
I've long saw Spotify could become something like a voice-based social network. They have been experiencing a lot, and now with the messaging, I think they're catching their trends.
Here's why it matters. AI is reducing the amount of time people spend on traditional search. When starting SEO media and even Google's model, people simply see fewer of others.
So the question is, will we, a new user, discover service in the AI era? I believe the answer is in the ear. Visual attention is saturated and you can't always watch or click while walking or commuting, but your ears are free.
It also makes audio ads, music, and broadcasts perform like Spotify. Much more valuable. If Spotify successfully adds messaging and more interaction users will spend more time inside the application and thus increase its value as a platform.
In short, AI growth is actually positive for audio. It opens new opportunities not just for Spotify but for anyone creating in the audio space.
So yes, while LLVD earnings were impressive, I personally more are excited about Spotify moving toward becoming a social audio platform.
That's it all for today, new devs. If you enjoy my content, I think of it as like buying a long good co-option. Follow and support. See you tomorrow.
