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Maybe you’re old enough to remember yesterday, when Wall Street stocks posted their biggest gain in three months as investors bet that Democrats’ resounding victory in the US midterm elections would cause political gridlock in Washington:
Perhaps you remember when inflation fears were eased by yesterday’s US Brent session closing below $100 a barrel for the first time since September, and when a nearly 11 basis point tightening in the Franco-German 10-year spread signaled optimism in Europe.
You may even remember the 1.4 percent rise in the Nasdaq Composite literally yesterday when tech mega-caps outperformed amid a rotation of weaker AI names, which meant selling was contained among semiconductor stocks, neocloud developers and politically exposed stocks like SpaceX.
“Now’s a good time to list stocks if you’re anthropogenic,” you may remember reading in the Wall Street Journal less than a day ago.
Those of you with even longer memories may remember the many years that we in the media pontificated on the potential for bubbles to form in AI infrastructure and related spaces like private credit. Otherwise, remember by watching today’s media coverage rather than yesterday’s.
Our only argument is that market information is difficult because markets are difficult. Your take on today’s massive sell-off might be more insightful, in which case please use the comments box, as we got nothing.
Gn bussni
