Daily breadth rebounded, but weak QQQ action and sub-50% participation across key timeframes keep the trend neutral with a negative bias.
VanEck Semiconductor ETF nears key $510â$520 support as bearish options positioning and negative gamma raise downside risk. Click for more on the sector.
Oil prices plunge 10% on Iran deescalation as equities rise; big tech AI spending faces scrutiny. Disinflation may keep Fed rates steady.
Earnings fundamentals remain strong and continue to support US stock prices. Click here for a detailed analysis.
Google, Microsoft, Meta, Amazon and Apple are on track to spend about $700 bln this year, against roughly $410 bln last year. Wall Street seems worried about the spending and the borrowing.
AI capex is surging as hyperscalers bet on costly closed-weight models while enterprises want cheaper open-weight options. Read more here.
The market has lost some conviction as the AI trade has become dangerously dependent on OpenAI and Anthropic. Read why a flush may come after a potential hike.
Markets were relatively unchanged at the index level last week, but beneath the surface there was rotation. Read more here...
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