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Fed Meeting Opens With Stocks Rallying, Yields Near 5%, and a December Hike Already Priced In The Fed meeting began Tuesday, and nobody expects a surprise. That’s the surprise. Policymakers gather for two days, with the decision due Wednesday at 2 p.m. Eastern and Chair Kevin Warsh’s press conference at 2:30. Futures put the odds […] More

Anthropic’s IPO Filing Lands as Wall Street Braces for a Fed Decision and an AI Reckoning The Anthropic IPO is officially real, and the timing couldn’t be sharper. Wall Street is already nervous about AI spending. Now it gets a very large test. The company filed its public prospectus with the SEC on Monday, seeking […] More

Tech Sell-Off Rattles Wall Street as the AI Fear Flips From Overspending to Cuts The tech sell-off left Wall Street with a strange hangover Friday: the biggest names fell, and yet the average stock is doing fine. Thursday’s damage was real. The Nasdaq Composite dropped 2.6% to 26,008.86, its worst day since early June. The […] More

Meta Stock Tanks as AI Spending Fears Hit Wall Street, and the 10-Year Yield Drops Below 5% Meta stock gave up about 7% Thursday, and the AI trade went down with it. Strong earnings didn’t matter. By midafternoon, the Nasdaq Composite had sunk 2.4% to roughly 26,057. The S&P 500 lost 1.3% to about 7,660. […] More

SpaceX Stock Surges on a Blowout Quarter and Merger Talk, While Netflix Stumbles on Weak Ad Guidance SpaceX stock jumped about 9% in premarket trading Wednesday, and the AI trade got a pulse. Netflix got the opposite treatment. Two earnings reports landed after Tuesday’s closing bell. They pointed in opposite directions. SpaceX reported third-quarter revenue […] More

Dow Jones Surges 672 Points as Oil Retreats, but Chip Stocks Still Can’t Catch a Break The Dow Jones roared back Tuesday, and Wall Street exhaled. Mostly. The blue-chip average gained 672 points, or 1.29%, to 52,638.06. The S&P 500 rose 0.66% to 7,741.54. The Nasdaq Composite added 0.52% to 26,569.24. After a week that […] More

Nasdaq Sell-Off Caps Its Worst Week Since June, and the AI Trade Now Faces an Earnings Test The Nasdaq sell-off ended last week with a thud, and Wall Street spent Monday morning trying to decide whether it’s over. Nobody knows. Not yet. Friday did the damage. The Nasdaq Composite fell 2.1% to 26,140.03, and the […] More

Stock Market Sell-Off Deepens as Wholesale Inflation Hits a Four-Year High and Chip Stocks Crater The stock market sell-off hit its second day Thursday, and the inflation news didn’t help. It got worse. Wall Street opened to a split screen. The S&P 500 slipped about 0.5% in early trading, the Nasdaq Composite dropped more than […] More

Hot CPI Report Revives Fed Rate-Hike Fears as Stocks Slip and Treasury Yields Climb The September CPI report landed at 8:30 a.m. Eastern Wednesday, and Wall Street didn’t like the number. Inflation is not cooling. Consumer prices rose 3.7% from a year earlier, above the 3.6% economists expected and up from 3.4% in August. On […] More

Chip Stocks Slide as a Memory Rout Out of Seoul Reaches Wall Street Chip stocks took another beating Tuesday, and this time the trouble started in Seoul. Then it crossed the Pacific. South Korea’s Kospi sank about 5.5% overnight, its weakest close since July 31. SK Hynix tumbled roughly 10%. Samsung Electronics lost about 7%. […] More

One Number Rattled the AI Trade: Nasdaq Sinks 1.25% as OpenAI’s Revenue Falls $20 Billion Short AI stocks have been Wall Street’s favorite bet all year, and on Thursday one number cracked the confidence. Just one. The Financial Times reported around midday that OpenAI told investors its annualized revenue was approaching $50 billion at the […] More

Fed Minutes Point to Another Rate Hike, and Bond Yields Just Hit a 24-Year High The Fed minutes landed at 2 p.m. Eastern Wednesday, and they carried a message bond traders didn’t want to hear. Another rate hike is coming. Probably. Stocks flinched. Not a rout, just a step back. The S&P 500 slipped 0.22% […] More