AJAX Research

Research-Driven
Investment Intelligence

Institutional-quality equity analysis, quantitative modeling, and market commentary. Built for serious investors.

Market OverviewLive — 02:39 AM ET
SPX
6,886.24+1.02%
NDX
25,383.72+1.06%
DJI
48,218.25+0.63%
VIX
19.12-0.57%
US3M
3.60%+1.0 bps
US10Y
4.30%-2.0 bps
US30Y
4.90%-1.4 bps
GC
4,790.50+0.48%
CL
97.29-1.81%
META——AAPL——GOOG——NVDA——SPX——VIX——BTC——GOLD——OIL——US10Y——META——AAPL——GOOG——NVDA——SPX——VIX——BTC——GOLD——OIL——US10Y——

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Reports Published

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Sectors Covered

+0.0%

Model Portfolio Return

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Sharpe Ratio

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Market Snapshot

SPX

6,886.24

+1.02%

NDX

25,383.72

+1.06%

DJI

48,218.25

+0.63%

RUT

2,670.49

+1.52%

DXY

98.36

-0.01%

WTI Crude

$97.29

-1.81%

Gold

$4790.50

+0.48%

3M Yield

3.60%

10Y Yield

4.30%

VIX

19.12

-0.57%

Live · refreshes every 15s

Latest Coverage

Research Reports

RTXFeb 9, 2026
DefenseNEUTRAL

RTX Corporation: Positioned for a Multi-Year Defense Re-Rating, but Valuation Reflects the Outlook

RTX's earnings are structurally supported by missile defense demand, sustainment-heavy procurement programs, and a recovering commercial aerospace aftermarket, providing multi-year revenue visibility. However, current valuation already reflects normalized earnings and backlog visibility, leaving forward returns dependent on operational execution and sustained geopolitical defense spending rather than multiple expansion.

PT: $206.00
XAU/USDJan 30, 2026
CommoditiesOVERWEIGHT

Gold (XAU/USD): A Structural Reserve Asset in an Era of Fiscal Dominance and Geopolitical Fragmentation

AJAX Research maintains a Strategic Overweight on gold as elevated sovereign debt, persistent fiscal imbalances, sustained central bank accumulation exceeding 1,000 tonnes annually, and rising geopolitical fragmentation have transformed gold from a cyclical hedge into a structural reserve asset. Over the past five years, gold has outperformed the S&P 500 by approximately 28.5% on a total return basis, reinforcing its capacity to preserve real value through macroeconomic stress.

View all reports →

Commentary

Recent News

Apr 13, 2026

ARGUS Brief

ARGUS Brief: Iran Dialogue Lifts Risk Assets, Commodities Ease — Post-Market

Markets rallied on renewed US-Iran diplomatic engagement, with equity indices climbing and oil prices falling as investors reduced geopolitical risk premiums. The dialogue signals a potential de-escalation path, though NATO allies' refusal to join the US blockade and China's cautious stance underscore fragmentation in the international response. Luxury and industrial sectors showing early damage from war-related disruptions.

Apr 13, 2026

ARGUS Brief

ARGUS Brief: US Iran Blockade Reshapes Risk & Commodity Markets — Pre-Market

Failed US-Iran peace talks have triggered a major geopolitical escalation, with the US announcing a naval blockade of Iranian ports. This has driven immediate safe-haven demand (dollar strength), oil price surges, equity selloffs across emerging markets and Europe, and heightened recession concerns as supply chain disruptions and energy cost inflation loom. Market participants are repricing rate-cut probabilities downward amid inflation fears.

Apr 10, 2026

ARGUS Brief

ARGUS Brief: Iran Ceasefire Fragile; Oil Markets Brace for Volatility — Post-Market

Markets are pricing in a tentative Iran-US ceasefire with VP Vance heading to Pakistan for direct negotiations, but structural concerns remain: Hormuz shipping remains crippled, consumer sentiment has collapsed to record lows, and the oil market faces a flip to deficit in 2026 despite US plans to extend Russian waivers. The disconnect between diplomatic optimism and hard economic data is driving institutional caution.

Apr 10, 2026

ARGUS Brief

ARGUS Brief: Iran Ceasefire Eases Risk Assets, Inflation Fears Linger — Pre-Market

U.S.-Iran talks and ceasefire developments have sparked broad risk-on sentiment, with equities rallying (Indian shares best week in 5+ years), the dollar weakening, and oil set for weekly decline. However, underlying inflation pressures—particularly from energy costs and supply disruptions—remain acute across consumer prices, manufacturing, and food security, creating a mixed macro backdrop for policy and earnings.

Apr 9, 2026

ARGUS Brief

ARGUS Brief: Iran Conflict Roils Energy Markets, Tech Diverges — Post-Market

The escalating Iran-U.S. conflict has effectively closed the Strait of Hormuz, creating a critical energy supply shock that is driving oil prices higher and boosting refining margins. Simultaneously, equity markets are experiencing a pronounced sector divergence, with hardware-oriented tech and energy beneficiaries outperforming software and discretionary names. Geopolitical risk premiums are now front-and-center, with NATO allies signaling concerns about U.S. commitment and seeking coordinated responses.

About AJAX Research

Institutional Analysis, Independent Voice

AJAX Research applies the analytical frameworks of top-tier investment institutions to deliver equity research that is both rigorous and actionable. Built by investors, for investors.

01

Fundamental Research

Bottom-up equity analysis grounded in financial modeling. DCF, comps, and scenario analysis for every coverage initiation.

02

Quantitative Rigor

Data-driven decision-making with statistical validation. Every thesis is stress-tested against historical evidence and market reality.

03

Independent Perspective

No investment banking conflicts. No sell-side pressure. Research driven solely by analytical merit and evidence.

04

Risk-Adjusted Thinking

Position sizing, drawdown analysis, and margin of safety are built into every recommendation. Risk management is never an afterthought.