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Daily 2025-11-07
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All metrics are as of the latest market close.
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<table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="background:#f8f9ff;background-color:#f8f9ff;width:100%;">
<tbody>
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<td style="direction:ltr;font-size:0px;padding:20px 0;padding-bottom:16px;padding-left:16px;padding-right:16px;padding-top:0;text-align:center;">
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<div class="mj-column-per-47 mj-outlook-group-fix" style="font-size:0px;text-align:left;direction:ltr;display:inline-block;vertical-align:top;width:100%;">
<table border="0" cellpadding="0" cellspacing="0" role="presentation" width="100%">
<tbody>
<tr>
<td style="vertical-align:top;padding:0;">
<table border="0" cellpadding="0" cellspacing="0" role="presentation" style="" width="100%">
<tbody>
<tr>
<td align="left" style="font-size:0px;padding:0;word-break:break-word;">
<table border="0" cellpadding="0" cellspacing="0" style="color:#000000;font-family:Inter,sans-serif;font-size:13px;line-height:22px;table-layout:auto;width:100%;border:none;" width="100%">
<tbody>
<tr>
<td style="font-size:12px;font-weight:700;width:40%;vertical-align:baseline;padding:10px 0 0 0">
S&P 500
</td>
<td style="font-size:12px;color:#EA3459;font-weight:500;font-family:Trispace,monospace;width:30%;vertical-align:baseline;padding:10px 0 0 0">
1.10% ▼
</td>
<td style="font-size:12px;width:30%;vertical-align:baseline;text-align:right;padding:10px 0 0 0;font-family:Trispace,monospace">
6,722
</td>
</tr>
<tr>
<td style="font-size:12px;font-weight:700;width:40%;vertical-align:baseline;padding:10px 0 0 0">
GOLD
</td>
<td style="font-size:12px;color:#EA3459;font-weight:500;font-family:Trispace,monospace;width:30%;vertical-align:baseline;padding:10px 0 0 0">
0.13% ▼
</td>
<td style="font-size:12px;width:30%;vertical-align:baseline;text-align:right;padding:10px 0 0 0;font-family:Trispace,monospace">
$3,988
</td>
</tr>
<tr>
<td style="font-size:12px;font-weight:700;width:40%;vertical-align:baseline;padding:10px 0 0 0">
BITCOIN*
</td>
<td style="font-size:12px;color:#EA3459;font-weight:500;font-family:Trispace,monospace;width:30%;vertical-align:baseline;padding:10px 0 0 0">
2.93% ▼
</td>
<td style="font-size:12px;width:30%;vertical-align:baseline;text-align:right;padding:10px 0 0 0;font-family:Trispace,monospace">
$100,830
</td>
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<tr>
<td colspan="3" style="font-size:10px;font-family:Trispace,monospace;color:#7F879C;padding:0">
*24-hour change
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</tbody>
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</td>
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</tbody>
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</td>
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</tbody>
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<tbody>
<tr>
<td style="vertical-align:top;padding:0;">
<table border="0" cellpadding="0" cellspacing="0" role="presentation" style="" width="100%">
<tbody>
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<td align="left" style="font-size:0px;padding:10px 25px;padding-top:0;padding-right:0;padding-bottom:0;padding-left:0;word-break:break-word;">
<div style="font-family:Inter,sans-serif;font-size:1px;line-height:1.5;text-align:left;color:#000000;">
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</td>
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</td><td class="" style="vertical-align:top;width:251.92px;">
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<table border="0" cellpadding="0" cellspacing="0" role="presentation" width="100%">
<tbody>
<tr>
<td style="vertical-align:top;padding:0;">
<table border="0" cellpadding="0" cellspacing="0" role="presentation" style="" width="100%">
<tbody>
<tr>
<td align="left" style="font-size:0px;padding:0;word-break:break-word;">
<table border="0" cellpadding="0" cellspacing="0" style="color:#000000;font-family:Inter,sans-serif;font-size:13px;line-height:22px;table-layout:auto;width:100%;border:none;" width="100%">
<tbody>
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FTSE 100
</td>
<td style="font-size:12px;color:#EA3459;font-weight:500;font-family:Trispace,monospace;width:30%;vertical-align:baseline;padding:10px 0 0 0">
0.42% ▼
</td>
<td style="font-size:12px;width:30%;vertical-align:baseline;text-align:right;padding:10px 0 0 0;font-family:Trispace,monospace">
9,736
</td>
</tr>
<tr>
<td style="font-size:12px;font-weight:700;width:40%;vertical-align:baseline;padding:10px 0 0 0">
BRENT OIL
</td>
<td style="font-size:12px;color:#EA3459;font-weight:500;font-family:Trispace,monospace;width:30%;vertical-align:baseline;padding:10px 0 0 0">
0.08% ▼
</td>
<td style="font-size:12px;width:30%;vertical-align:baseline;text-align:right;padding:10px 0 0 0;font-family:Trispace,monospace">
$63.47
</td>
</tr>
<tr>
<td style="font-size:12px;font-weight:700;width:40%;vertical-align:baseline;padding:10px 0 0 0">
US BONDS*
</td>
<td style="font-size:12px;color:#16B166;font-weight:500;font-family:Trispace,monospace;width:30%;vertical-align:baseline;padding:10px 0 0 0">
0.07% ▼
</td>
<td style="font-size:12px;width:30%;vertical-align:baseline;text-align:right;padding:10px 0 0 0;font-family:Trispace,monospace">
4.09%
</td>
</tr>
<tr>
<td colspan="3" style="font-size:10px;font-family:Trispace,monospace;color:#7F879C;padding:0">
*10-year government yield
</td>
</tr>
</tbody>
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</td>
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</td>
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<div style="font-family:Inter,sans-serif;font-size:14px;font-weight:700;line-height:1.5;text-align:left;color:#181c25;">
WALL STREET FEAR GAUGE INDEX
(
<a style="font-weight:400;font-family:Trispace,monospace">
VIX
</a>
)
</div>
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<img alt="Wall Street Fear Gauge Index" height="auto" src="https://inboxflows.com/_/image/https%253A%252F%252Ffinimize-img.imgix.net%252Fhttps%253A%252F%252Fimages.bannerbear.com%252Fdirect%252F7Q4rjJzQn7vZo8qPOx%252Frequests%252F000%252F113%252F111%252F730%252FLWXrA1qRoQvMWd056ypMJegBj%252Ffa16a31adba83d7fdc81d5260df85c40e1eb7bd2.png%253Ffit%253Dclip%2526h%253DNone%2526ixlib%253Dpython-3.1.2%2526w%253D768%2526s%253D3cad1c6d7befd3b5d8899a50b7985a9a/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZmaW5pbWl6ZS1pbSIsInRpbWUiOjE3NjI1MDQ1ODUuMjY1MTM5OH0:1vHHxJ:0jEvbjpbXjAp1NyKLqBg97HpSzCQ87eTT6xuBNbfr-0" style="border:0;display:block;outline:none;text-decoration:none;height:auto;width:100%;font-size:13px;" width="536"/>
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<div style="font-family:Inter,sans-serif;font-size:14px;line-height:1.5;text-align:left;color:#000000;">
<p data-block-key="10zqs">
🟢 Apple's been flirting with Google's Gemini as it looks for help with Siri's long-promised AI upgrade. And Qualcomm just posted some chunky
revenues and a shiny outlook.
</p>
<p data-block-key="18quh">
➕ Why Warren Buffett is holding so much cash (and what that means for stocks)
</p>
<p data-block-key="b952e">
<b>
👇 Keep reading to find out more
</b>
</p>
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Siri-ndipitous
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<a target="_blank">
<img alt="Siri-ndipitous" height="auto" src="https://inboxflows.com/_/image/https%253A%252F%252Ffinimize-img.imgix.net%252Fhttps%253A%252F%252Fchivas-assets.s3-eu-west-1.amazonaws.com%252Fstatic%252Fimages%252FEditorial-061125-Geimini-Apple.original.png%253Ffit%253Dcrop%2526h%253D600%2526ixlib%253Dpython-3.1.2%2526w%253D1200%2526s%253D90c34c8103d81e5b312619f9c7984c9f/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZmaW5pbWl6ZS1pbSIsInRpbWUiOjE3NjI1MDQ1ODUuMjY1Mjg4Nn0:1vHHxJ:ZF8MsJcnowpopkq1k0b8JeRQsiFhDNU1J7yVnb4NVIw" style="border:0;display:block;outline:none;text-decoration:none;height:auto;width:100%;font-size:13px;" width="568"/>
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<p data-block-key="uxqw0">
<b>
What’s going on here?
</b>
</p>
<p data-block-key="4q02m">
<b>
Apple’s
</b>
reportedly finalizing a $1-billion-per-year deal to use Google’s AI smarts for Siri – a twist of fate that almost feels meant to be.
</p>
<p data-block-key="ea7l6">
<b>
What
does this mean?
</b>
</p>
<p data-block-key="58ev1">
The deal would give Apple access to Google’s Gemini: a 1.2-trillion-parameter AI model that makes Siri’s current 150 billion parameters look almost flip-phone quaint. Gemini’s brainpower would upgrade Siri’s summarizing and planning features, improve how the model interprets context, and just generally sharpen its performance on more “thinking” type tasks.
</p>
<p data-block-key="1ira6">
▶ But the pair won’t be living together. Apple will run the AI
tech on its own private cloud servers – a fair distance to keep user data out of Google’s hands. And unlike Apple’s Safari search
<a>
deal
</a>
, this one would be more covert – without any consumer-facing branding. After all, it’s meant to be a short-term, friends-with-benefits kind of hookup. Apple’s still developing its own trillion-parameter model, which
it could roll out as early as next year.
</p>
<p data-block-key="f84lp">
<b>
Why should I care?
</b>
</p>
<p data-block-key="5bom9">
<b>
<i>
Zooming out:
</i>
</b>
<i>
It’s more of a situationship.
</i>
</p>
<p data-block-key="89fsq">
Apple’s recognizing the need for speed in AI advancement with this deal. The firm knows that if you’re not out-innovating your rivals, the next best thing is just… paying them for their more advanced offerings.
</p>
<p data-block-key="gdpv">
▶ It’s not alone, either:
<b>
Snap
</b>
just
struck a $400 million agreement with
<b>
Perplexity
</b>
to plug its AI search directly into Snapchat.
</p>
<p data-block-key="c8m9b">
▶ These deals show exactly how the tech game’s changed: it’s no longer about building every piece in-house, but about stitching together the smartest stack as quickly as possible.
</p>
<p data-block-key="18ge1">
<b>
<i>
The bigger picture:
</i>
</b>
<i>
Apple’s humble new attitude.
</i>
</p>
<p data-block-key="ee7og">
Outsourcing isn’t the only strategic shift Apple’s making.
The firm’s rethinking its whole premium vibe, developing the first-ever budget Mac to compete with Chromebooks and entry-level Windows PCs. It’s a more pragmatic view for Apple – in a world where growth may now depend on accessibility as much as on aspiration and polish.
</p>
</div>
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You might also like ⇢
<a>
Apple Stock: Should You Bite?
</a>
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<mj-raw>
<span style="background-color:#EFFF0D;display:inline">
Buffett’s Cash Pile Just Hit A Record – And That Might
Say More Than You Think
</span>
</mj-raw>
</div>
</td>
</tr>
<tr>
<td align="center" style="font-size:0px;padding:0;padding-bottom:16px;word-break:break-word;">
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<tbody>
<tr>
<td style="width:536px;">
<img alt="Warren Buffett's sitting on a lot of cash" height="auto" src="https://inboxflows.com/_/image/https%253A%252F%252Ffinimize-img.imgix.net%252Fhttps%253A%252F%252Fchivas-assets.s3-eu-west-1.amazonaws.com%252Fstatic%252Fimages%252FInsight-061125-Buffet.original.png%253Ffit%253Dclip%2526h%253DNone%2526ixlib%253Dpython-3.1.2%2526w%253D768%2526s%253D097f9bbaabb937b6f3f24f2ae9ea6fcd/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZmaW5pbWl6ZS1pbSIsInRpbWUiOjE3NjI1MDQ1ODUuMjY1NTI5fQ:1vHHxJ:HluzCDPVTrNO4hNk7DrZvCbNB57zcUhoMt4Iahx5XFs" style="border:0;display:block;outline:none;text-decoration:none;height:auto;width:100%;font-size:13px;" width="536"/>
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<div style="font-family:Inter,sans-serif;font-size:14px;line-height:1.5;text-align:left;color:#000000;">
<p data-block-key="pr7ai">
Legendary investor
<a>
Warren Buffett
</a>
has been unloading a hefty amount of stock lately, sending the cash pile at his firm, Berkshire Hathaway, to a new record high.
</p>
<p data-block-key="174jo">
And some folks are worried that could be
<a>
a sign
</a>
that the Oracle of Omaha isn’t feeling great about the economy or market these days.
</p>
<p data-block-key="5m8dv">
So let’s dive into that
<a>
cash pile
</a>
– and see what it says about your portfolio.
</p>
<p data-block-key="6o2ro">
That’s today’s Insight:
<a>
why Warren Buffett is holding all that cash (and what it means for stocks)
</a>
.
</p>
<p data-block-key="bjum1">
<a>
<b>
Read or listen to the Insight here
</b>
</a>
</p>
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Reda
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just by transferring at least £10,000 from one or more existing ISAs into a Freetrade one before 31 December 2025. Join the “ISA Transfer Offer” in your
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<img alt="Haulcomm" height="auto" src="https://inboxflows.com/_/image/https%253A%252F%252Ffinimize-img.imgix.net%252Fhttps%253A%252F%252Fchivas-assets.s3-eu-west-1.amazonaws.com%252Fstatic%252Fimages%252FEditorial-060125-Qualcomm.original.png%253Ffit%253Dcrop%2526h%253D600%2526ixlib%253Dpython-3.1.2%2526w%253D1200%2526s%253De5d2029723e9db269e125bd7787d328e/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZmaW5pbWl6ZS1pbSIsInRpbWUiOjE3NjI1MDQ1ODUuMjY1ODk0NH0:1vHHxJ:DZp9Jdugjnn1afDwafBW71-AuhtkC8FPoXEVBN2lJ5A" style="border:0;display:block;outline:none;text-decoration:none;height:auto;width:100%;font-size:13px;" width="568"/>
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<div style="font-family:Inter,sans-serif;font-size:14px;line-height:1.5;text-align:left;color:#000000;">
<p data-block-key="muorf">
<b>
What’s going on here?
</b>
</p>
<p data-block-key="37ipq">
Qualcomm raked in a hefty $11.3 billion in revenue last quarter – and the chipmaker expects to pull in even more next time around.
</p>
<p data-block-key="2po92">
<b>
What does this
mean?
</b>
</p>
<p data-block-key="e07c3">
Smartphone chip demand is strong, and that’s had Qualcomm flexing some gains, posting sales and profit that both weighed in above expectations. Now, most of that growth came from its chips-for-phones segment – but its automotive and “
<a>
Internet of Things
</a>
” categories saw boosts, too.
</p>
<p data-block-key="2t1ph">
🔻 It wasn’t all great news, though: a one-time $5.7 billion tax bill still left the firm with
an overall net loss.
</p>
<p data-block-key="8bo6e">
🔺 Still, investors seem confident. They’ve just boosted Qualcomm’s stock, pushing its value to 14 times the firm’s expected profit – a one-year high.
</p>
<p data-block-key="88kje">
<b>
Why should I care?
</b>
</p>
<p data-block-key="5qrru">
<b>
<i>
The bigger picture:
</i>
</b>
<i>
Swiss Army chipmaker.
</i>
</p>
<p data-block-key="chlai">
Qualcomm’s been adding tools to its quiver, making a bigger push into AI, connected devices, and automotive tech. It makes
sense that the firm’s looking beyond the saturated smartphone chips market to more fertile pastures. Next year, Qualcomm’s planning to start selling high-performance data center chips – putting it squarely in Nvidia’s lane. If it pulls that off, the firm could go from a phone-dependent chipmaker to a more diversified tech player, tied to multiple growth industries.
</p>
<p data-block-key="45gn1">
<b>
<i>
Zooming out:
</i>
</b>
<i>
Good news travels.
</i>
</p>
<p data-block-key="dr996">
British chip designer
Arm also reported better-than-expected results this week – and raised its outlook, too. It’s a good sign that the firm can keep designing (but not making) chips, riding the AI hardware boom without actually building any hardware. Makes sense: Arm’s chip designs are showing up in more power-hungry places like data centers, where energy efficiency is gold. And the firm’s model – collecting royalties as others build its designs – could make it one of AI’s most unexpected and powerful winners.
</p>
</div>
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— Jackie Robinson (an American baseball player)
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<h3 data-block-key="0lw1k">
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Stocks and bonds deserve a place in your portfolio, no doubt.
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<p data-block-key="27pk">
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<table border="0" cellpadding="0" cellspacing="0" role="presentation" style="" width="100%">
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<div style="font-family:Inter,sans-serif;font-size:14px;line-height:1.5;text-align:left;color:#000000;">
<p data-block-key="aaghi">
<b>
1. Nice guides finish last.
</b>
The
“
<a>
grumpy
</a>
” museum tour that’s surprisingly popular.
</p>
<p data-block-key="endn7">
<b>
2. Kissy kissy.
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<a>
Miss Piggy
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is getting her own movie.
</p>
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<b>
3. Tough moon landing.
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Video
<a>
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</p>
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<p data-block-key="dqcfl">
🚨
<b>
Governments now hold $68 billion in bitcoin, up 58% from a year ago
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Track digital assets treasuries (DATs) across 150-plus entities and 14 assets, including bitcoin, ethereum and solana, on
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<table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="width:100%;">
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</td></tr><tr><td class="" width="600px">
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<div style="margin:0px auto;max-width:568px;">
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<td style="direction:ltr;font-size:0px;padding:20px 0;padding-bottom:32px;padding-top:8px;text-align:center;">
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<table border="0" cellpadding="0" cellspacing="0" role="presentation" width="100%">
<tbody>
<tr>
<td style="vertical-align:top;padding:0;">
<table border="0" cellpadding="0" cellspacing="0" role="presentation" style="" width="100%">
<tbody>
<tr>
<td align="left" style="font-size:0px;padding:0;padding-right:0;padding-bottom:0;padding-left:0;word-break:break-word;">
<div style="font-family:Inter,sans-serif;font-size:14px;line-height:1.5;text-align:left;color:#000000;">
<p data-block-key="ao898">
<a>
<b>
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</p>
<p data-block-key="54dqo">
<b>
🔮
</b>
<a>
<b>
2026 Investment Predictions And Trends
</b>
</a>
with Mike Arone (chief investment strategist at
<b>
State Street Investment Management
</b>
): December 2nd, 3.30pm UK time
</p>
<p data-block-key="3hj7c">
<b>
🪙
</b>
<a>
<b>
The Next Decade For
Cryptocurrency
</b>
</a>
with Jean-Marie Mognetti (co-founder and chief executive officer at
<b>
CoinShares
</b>
): December 2nd, 6.30pm UK time
</p>
<p data-block-key="8d413">
<b>
👀
</b>
<a>
<b>
Accessing The Best Private Companies, Publicly
</b>
</a>
with Steven Tredget (partner at
<b>
Oakley Capital
</b>
): December 3rd, 1pm UK time
</p>
</div>
</td>
</tr>
</tbody>
</table>
</td>
</tr>
</tbody>
</table>
</div>
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<![endif]-->
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</tr>
</tbody>
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</td></tr></table>
<![endif]-->
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<div style="font-family:Inter,sans-serif;font-size:14px;line-height:1.5;text-align:left;color:#000000;">
Stay classy,
<mj-raw>
Sarah
</mj-raw>
😉 This issue of the Daily Brief was curated by
<a style="color:inherit;font-weight:inherit">
Karen
</a>
and
<a style="color:inherit;font-weight:inherit">
Russell
</a>
. Got an idea? A question?
<a>
Get in touch
</a>
.
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<div style="margin:0px auto;max-width:600px;">
<table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="width:100%;">
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<tr>
<td style="direction:ltr;font-size:0px;padding:0 16px;text-align:center;">
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<td align="left" style="font-size:0px;padding:10px 25px;padding-top:0;padding-right:0;padding-bottom:0;padding-left:0px;word-break:break-word;">
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<span style="font-style:normal">
💌
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<span style="font-style:italic">
THAT
WAS GREAT FOR US... HOW WAS IT FOR YOU?
</span>
</mj-raw>
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<![endif]-->
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<div style="margin:0px auto;max-width:600px;">
<table align="center" border="0" cellpadding="0" cellspacing="0" role="presentation" style="width:100%;">
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