Name: Stock futures point to more losses
Uploaded: 2025-11-18T14:58:08.802Z
Duration: 3 min 28 s
Description: Valérie Noël, Head of Trading at Syz Group, says the pullback is global, liquidity is thinning ahead of year-end, investors want clarity on AI and consumer strength, and gold remains her top hedge and diversifier.

Valérie Noël, Head of Trading at Syz Group, says the pullback is global, liquidity is thinning ahead of year-end, investors want clarity on AI and consumer strength, and gold remains her top hedge and diversifier.

Stock futures are indicating additional losses as volatility continues across global markets. Analysts attribute the market movements to a combination of high valuations, seasonal declines in liquidity, and anticipation of major earnings reports from companies such as Nvidia, Walmart, and Target. 

Concerns over excessive valuations have led to downgrades of major tech stocks, while investors are increasingly turning to gold as a hedge against uncertainty. The upcoming earnings results and data on U.S. consumer spending are expected to provide further clarity on the market's direction.

Stock futures point to more losses

All right. So what do you make of what we're seeing. Do you think this is a kind of a carryover of the selloff we saw in Asia going to Europe going to here. Or is this U.S. specific. We're seeing here. I said you promised to me a previous panelist. I think it's worldwide. You know we it's not like we are in the middle of a crash. You know if you look at U.S. market the S&P is still 15 percent since the beginning of the year. 10 percent for the Dow Jones. If you look at the European market we are between plus 10 and plus 40 percent. So it's also quite healthy to a little bit. Calm down. But it's also true that maybe the market ask himself some question as we have quite a big week ahead. You know are we over investing in infrastructure. How you know the U.S. consumers is spending right now. So I think what we're going to have this this week with the Nvidia numbers and Walmart or Target numbers that I think people need to have a little bit more clarity of what is happening right now. OK. So a lot of people think is real but they also think the valuations are getting out of control. In fact downgrade of Amazon and Microsoft from Rothschild this morning. And the first thing they say is that a current valuation is just too much benefit of a doubt. So outside of the valuation concerns are there other things that you think are pressuring U.S. futures or just the markets in general over the last few weeks. I think it's just you know you know we are coming at the end of the year. Also the liquidity starts going to be thinner and thinner. You know the week before Thanksgiving it's always thinner than Christmas is coming. So any seasonality the liquidity try to be seen. And that's maybe the only worry I may have because I think the market is going up because it's fueling a lot of liquidity. We have you know the share buyback 6 billion every day in average. But we also have these retail investors who inject a lot of liquidity on the market. And if the liquidity tried to dry then you know maybe bad things can happen. But let's see what's going to you know what's going to happen this week with the last Nvidia which is the last big one. Who's going to let us know you know a little bit more clarity over the future. And also what to the U.S. consumer does he still spend and how hard it is for him for the moment. All right. So right now we're looking at the Nvidia chart pulling back about three quarters of 1 percent earnings tomorrow after the bell. Your word of the day today is tension. So you kind of spelled out some of the tension in the markets. A lot of it's over valuations and the fact that investors need to see some positive earnings reports. That leads me to the sector that you're overweight in. It's gold. So is this just simply a hedge. You just want to kind of mitigate some of the risks with gold. That's obviously a safe haven asset. It's had a pretty strong run gold. I think it ticked the box across almost everything. It's a safe haven. We're still in a geopolitical tension. It's a very good diversification. We also have seen we know with the big high of the price that a lot of people you know look like gold but didn't invest in gold. So you still have all these investment institutions who want to buy gold or at least diversify their portfolio by putting one or two percent. And all this ETF. Also we've seen the retail investors start to buy also gold and silver a couple of months ago. So you know it tick all the box as a very good diversification for the moment. And obviously a safe event with everything happen.

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