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Wilson Sees Momentum Revival as AI Adopters Take the Lead

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‼️ Morgan Stanley’s Mike Wilson sees momentum stocks poised for a comeback, but with a different leadership mix as the market broadens and rotates from early-cycle AI enablers toward mid-cycle adopters. He argues the recent momentum unwind reflects this cyclical transition rather than just positioning, and expects the next leg higher to be led by services-oriented, asset-light businesses that prioritize free cash flow and operational efficiency—particularly in software, financial services, insurance, and healthcare services.

Petrobras Clears Key Amazon Basin Drilling Hurdle in 10B-Barrel Reserve Push

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‼️ 🛢️ 🇧🇷 Brazil’s environmental regulator Ibama has authorized Petrobras to drill the Manga, Morpho Extension and Crotalus wells in the Foz do Amazonas basin, clearing the way for work expected in 2027. The wells will help assess reservoir dynamics and the commercial potential of the Morpho discovery, a key step for a basin estimated to hold up to 10 billion barrels of oil equivalent and viewed as central to replenishing Brazil’s roughly 21 billion boe of reserves.