Steve Brice, the global chief investment officer at Standard Chartered, expressed concerns about the potential impact of the initial public offerings (IPOs) from Anthropic, OpenAI, and SpaceX on market stability. He noted that while the market may initially struggle to absorb these new listings, this could lead to broader market adjustments that are not always smooth.
Brice indicated that he is not overly optimistic at the moment, predicting possible market weakness during the summer months, particularly if geopolitical tensions in the Middle East escalate. He highlighted that the strength of upcoming U.S. labor data could support market sentiment, but warned that significant weakness could arise if the Strait of Hormuz remains closed.
Additionally, he pointed out that oil prices have surged due to the blockade of Iranian ports by the Trump administration, leading to rapidly declining inventories in crude and petrochemicals globally