Producer Prices Jump the Most Since 2022 on Record Energy Surge
After Wednesday’s hot CPI print, PPI comes in even hotter, more than double estimates in a broad advance led by a record jump in energy prices.
Is the Bottom Falling Out of the AI Trade?
We’re seeing equity valuations collapse for semiconductor stocks, and bond yields for CoreWeave soar to distressed levels. Is the AI bubble bursting?
Gasoline Fuels the Retail Sales Beat in September
Retail sales rose 0.8% versus a 0.3% estimate, but gas stations were over 70% of that gain while the GDP-linked control group missed and Census’s annual revision cut sales levels by about 4.5%.
Initial Jobless Claims Extend Longest Run Since 1969
Initial claims came in at 199,000, only the 11th week below 200,000 since 1969, while the four-week average of continuing claims fell to its lowest level since April 2023.
Tech Trade Turns Ugly
Hot inflation data burns up AI, tech and small-cap stocks as CoreWeave unravels and ‘neocloud’ names in ‘crash mode’; also the chart looks precarious.
Bonds Are the New Safe Haven as Money Rotates Out of Tech
TSMC beat and still fell, a giant AI offering is coming, and the market wants to know what AI growth costs.
A Little More Selling Could Be Just What This Market Needs
Nasdaq is approaching an oversold condition, selling pressure is finally picking up, and a dose of bearish sentiment could improve the outlook.
Hotter Inflation and AI Weakness End the S&P 500’s Run Without a 1% Drop
A hotter-than-expected September CPI report and a deepening selloff in AI names sent the S&P 500 down more than 1% for the first time in 54 sessions, with the Nasdaq and small caps falling nearly 2%.
Hot CPI Shakes Leaders and That’s What the Market Needed
Stocks were slammed after a hot core CPI report, but bonds rallied and biotech rose.
Fed’s Beige Book Sees Inflation Pressures Rise But Growth Moderates
The October edition provides hawks a lot more to work with than August did.