An Ugly End to a Big Week on Wall Street
Get on the helmet and flak jacket: Intel and Amazon are down big overnight after earnings. Binance gets hit by massive hack. And oil? Not pretty.
Anthropic Rocks Wall Street
The market parties on Anthropic filing (as company warns it might need more cash, and signals AI may take coding jobs and have catastrophic risks to mankind).
Tech’s Capital Problem
As more and more funds are raised for the AI buidout, is there a scarcity of capital?
A Look Back on a Very Dark Day on the Market
Remembering Oct. 19, 1987; also an AI warning from Wall Street Journal and a check on the market’s charts.
As Hormuz Deal Collapses, Hope Fades on Market… And So Does Rationality
Let’s look at how high-speed, keyword-reading algorithms have taken needed skepticism — and rationality — out of the market.
Iran Breakthrough?
The markets appeared to make a U-turn for the better on Thursday on potential progress with Tehran. Also, where’s the beef with the China summit?
That’s a Wrap!
The major domestic equity indices closed flat to slightly lower on Thursday after having tested much lower levels earlier. The S&P 500 and Nasdaq Composite both closed very close to flat on the day. It appears that Washington and Tehran are exploring what would be a phased arrangement that would restore the ability of commercial traffic to navigate the Strait of Hormuz.
Four of the 11 S&P sector SPDR ETFs closed higher, with Communication Services ($XLC) atop the performance tables. The Materials ($XLB) were the big losers. Everpure ($P) was the top-performing stock in the S&P 500, while Gen Digital ($GEN) was the worst.
Though stocks rallied well off of their lows, crude oil did not rally and Treasury debt securities sold off yet again. The U.S. 10-year Note paid 5.19% by day’s end, up 8 basis points.
The big news of the day for single stocks was probably made by Oracle ($ORCL). The stock fell 3.5% after Bloomberg News reported that the company was citing force majeure in order to protect itself from a data center project being built in New Mexico if it is delayed.
Have a good night gang. Dougie, I believe, will be out again tomorrow, but someone else is destined to be here with you as I cannot work through the close tomorrow.
Get some rest, gang and God bless. Zero dark-thirty comes early.
Position: None
As Semis Soar, I’m Upping Price Targets for AMD, Intel
INTC and AMD ran up big Monday on the sudden popularity of Meta’s Muse AI agent. Let’s chart where these two stocks could be headed.
Call Me Foolish, But I See Some Potential Market Catalysts Emerging
Ahead of a big China meeting, and what could be a meeting with Iran’s leadership, let’s see why clouds appear to be parting over Wall St.
The Sun Rises on Wall Street
We didn’t expect the kind of market strength we saw on Thursday as yields and oil fell. The big question now: Can it keep up?