Daily Brief United States: Gold, AT&T, Ferrovial, Southwest Airlines Co and more

• Central banks have been buying gold since after the GFC to diversify from US Dollars, underpinning the market with tightness
• Gold bull markets have been influenced by periods of conflict and economic stability, with central banks playing a significant role in influencing the price
• The second gold bull market starting around 2000 saw the gold industry aggressively buying back their hedges, pushing the price up alongside central bank buying and market forces

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• Deregulation of communication technologies is leading to intermodal competition and a reordering of assets in the industry.
• Telecom sector is lagging behind big tech stocks, but AI-driven growth in data usage presents a unique opportunity for growth.
• AT&T’s decision to divest its content business was necessary to focus on its core business of connectivity and meet customer demands for a high-quality product.

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• Ferrovial sits in a strong position for Nasdaq-100 second-round inclusion, with several incumbents likely to drop below rank 125.
• Inclusion could trigger ~$315M passive inflows and broaden U.S. investor ownership.
• Fundamentals already reflect a U.S.-centric infra operator, supported by JFK NTO and toll-road ramp-ups through 2027.

• Southwest Airlines was founded in 1966 by Herb Kelleher and Rollin King in San Antonio, Texas based on the idea of creating a triangle route between Dallas, San Antonio, and Houston.
• Southwest Airlines was able to avoid federal regulation by operating solely within the state of Texas and establishing a profitable business model with consistent profitability.
• Southwest Airlines revolutionized the airline industry by offering affordable and convenient flights within Texas, challenging the traditional business model of major airlines and achieving long-term success.

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.