One report. One wave of uncertainty. And suddenly, the AI trade looks a lot more fragile. Thursday’s sell-off showed just how quickly sentiment can shift when doubts emerge about the companies driving the artificial intelligence boom. According to a Financial Times report, OpenAI’s annualized recurring revenue was reportedly $20 billion below previously indicated levels. OpenAI has not confirmed that figure, but the report was enough to trigger fresh concerns about its growth trajectory and competitive position. The market reaction was swift. The $NASDAQ(.IXIC)$ plunged 1.25%, marking its worst session since mid-August. The $S&P 500(.SPX)$ fell 0.47%, while semiconductor stocks took an even bigger hi

The AI trade may have helped ignite Tuesday’s rally, but the real story was what happened next: the buying spread across the broader market. Markets The $S&P 500(.SPX)$ gained 0.6% to close at a fresh record of 7,819.04, while the Nasdaq Composite added 0.5%, reaching a new high for the second consecutive session. The Dow Jones Industrial Average rose 0.5%, or 253 points. This was not simply another technology-led move. The Rally Is Getting Broader Tuesday’s advance was remarkably broad. Every major sector finished higher except healthcare, with utilities emerging as the strongest performer, gaining 3%. That is particularly interesting because utilities rarely lead the market when the S&P 500 is breaking into fresh territory. According to

Monday’s session once again confirmed a trend that is becoming increasingly difficult to ignore: artificial intelligence remains the main engine behind the U.S. market rally. With a relatively light economic and earnings calendar this week, investors have once again turned their attention toward the theme dominating markets: AI and the growth opportunities it continues to create across the technology sector. The Dow Jones gained 0.18%, while the $S&P 500(.SPX)$ rose 0.66%. But the Nasdaq stood out, climbing 1.05% and reaching its 23rd record close of 2026. $NVIDIA(NVDA)$ $Microsoft(MSFT)$ $Apple(AAPL)$ AI Remains the

Wall Street walked into Friday with one set of assumptions, and walked out with another. A sharply weaker September jobs report forced traders to rethink the economy’s momentum and the Fed’s next move, and that shift in expectations sent equities higher. $NASDAQ(.IXIC)$ : +1.19% $S&P 500(.SPX)$ : +0.73% Dow: +0.49% (+250 pts) Tech led the rebound, helping the Nasdaq lock in a winning week. The Dow and S&P 500 still finished the week slightly lower, but Friday’s tone was decisively risk‑on. A Jobs Report That Scrambles the Narrative Key details: Jobs Payrolls: +29,000 (vs. expectations for a much stronger gain) Revisions: July + August revised down by 60,000 Unemployment: 4.2% (up from 4.1%) Wage

September closed with one last twist: a down day for most of the market, except for tech, which managed to stay afloat while the rest of Wall Street sagged. $S&P 500(.SPX)$ : –0.25% Dow: –0.86% (–441 pts) $NASDAQ(.IXIC)$ : +0.24% The S&P spent most of the session in positive territory thanks to softer‑than‑expected inflation data. August core PCE rose 0.2%, while headline PCE climbed 0.3%, both cooler than forecasts and enough to spark a morning rally. But the momentum didn’t survive the close. The S&P slipped into the red, ending September down 0.5%, while the Dow logged a 4.3% monthly drop. The Nasdaq, powered by tech resilience, finished the month up 1.9%. Yields Stay Hot, Markets Stay Ner

Tuesday delivered another reminder of who’s really in charge of this market: the bond market. Equities tried to mount a midday rebound, but rising long‑term yields ultimately kept stocks pinned in the red. Dow: –0.26% $S&P 500(.SPX)$ : –0.17% $NASDAQ(.IXIC)$ : –0.09% All three benchmarks traded much lower earlier in the session before staging a partial recovery. The catalyst for that brief optimism was a set of comments from New York Fed President John Williams that traders interpreted as slightly more dovish. Combined with cooler‑than‑expected jobs data, rate‑hike odds for October fell sharply, from 71% to roughly 52%, and 2‑year yields eased. Oil also helped sentiment: Brent: near $96 WTI: back bel

Markets opened the week under pressure, weighed down by rising oil prices, geopolitical tension, and the growing likelihood of more rate hikes. It was a grey Monday in New York, and the tape looked the same. Index performance: Dow: –0.67% $S&P 500(.SPX)$ : –0.77% $NASDAQ(.IXIC)$ : –0.92% The Dow is now on pace for its worst September in three years. Oil Stays Elevated as Iran Tensions Escalate Trump’s rejection of Iran’s cease‑fire proposal sent crude higher again. Ed Yardeni summed up the market’s anxiety: without a diplomatic breakthrough, oil stays expensive, inflation stays sticky, and central banks stay hawkish. His warning is blunt: Higher‑for‑longer oil → higher‑for‑longer rates. That alone is

Markets opened weak on Thursday but briefly found relief after reports that U.S. and Iranian negotiators were exploring a phased path toward de‑escalation. The bounce didn’t last. By the close, stocks were essentially unchanged, unable to shake off the pressure coming from the bond market. Index performance: Dow: –0.31% $S&P 500(.SPX)$ : –0.02% $NASDAQ(.IXIC)$ : +0.01% The resilience is notable: despite the noise, all three benchmarks remain near record highs. Yields Stay Elevated - And Equities Feel It Treasury yields continued their march upward: US3OY 10‑year: highest level since 2007 7‑year: highest since 2009 The drivers are stacking up-rising oil, expectations of more Fed tightening, and weak d

Wall Street spent Wednesday wrestling with a message the bond market is no longer whispering: yields are rising fast, and stocks can’t ignore it anymore. The session was broadly negative: $NASDAQ(.IXIC)$ : –1.13% $NVIDIA(NVDA)$ $Microsoft(MSFT)$ $Apple(AAPL)$ $S&P 500(.SPX)$ : –0.75% Dow: –0.68% Only energy managed to finish higher, as nearly every other sector buckled under the weight of surging rates. The trigger was a brutal 5‑year Treasury auction, as “disastrous.” Weak demand sent the 5‑year yield above 5%, its highest level since 2007. Long‑duration yields followed su

AI Strength Lifts the Nasdaq While Geopolitics Keep the Rest of the Market on Edge Tuesday delivered a split‑screen session on Wall Street: enthusiasm around AI pushed the Nasdaq to another record, while the Dow and S&P 500 struggled to find direction. Index performance: $NASDAQ(.IXIC)$ : +0.45% - second consecutive all‑time high S&P 500: flat Dow: –0.36% The standout driver was renewed momentum in the AI ecosystem. Meta’s new Muse AI assistant surged to the top of the Apple Store rankings, and major platforms like Shopify and PayPal moved quickly to integrate with it. The speed of adoption is reinforcing the idea that AI remains one of the strongest secular growth engines in the market. Oil Retreats as Gulf Tensions Shift - But Uncertain

The Dow spent another session under pressure, slipping 0.2% and closing out its worst week since March. It’s now three straight weeks of declines, not catastrophic, but enough to signal that large‑cap cyclicals are struggling to find footing. The broader market looked slightly healthier: $NASDAQ(.IXIC)$ : +0.39% $S&P 500(.SPX)$ : +0.17% Both indexes only managed to turn green in the final stretch of trading, but the resilience was notable given the cross‑currents investors are navigating. Triple Witching Adds a Dose of Chaos Friday wasn’t just another trading day, it was quarterly triple witching, when stock options, index futures, and index options all expire simultaneously. These sessions often bri

One day after the Federal Reserve kicked off its first tightening move in three years, investors did the opposite of what the textbooks predict: they bought. Hard. Stocks Wall Street spent the night digesting the Fed’s message, and by morning the tone had flipped. The idea that policymakers merely “removed a dose of accommodation” a phrase Chair Kevin Warsh repeated several times, seems to have reassured traders that the Fed is tightening from a position of confidence, not panic. Major indexes rallied strongly: Dow: +0.61% $S&P 500(.SPX)$ : +1.14% $NASDAQ(.IXIC)$ : +1.69% $NVIDIA(NVDA)$ $Microsoft(MSFT)$

The Federal Reserve delivered its first rate increase in three years on Wednesday, and the reaction across markets was immediate: risk assets pulled back, Treasury yields surged, and investors began recalibrating what the next phase of this tightening cycle might look like. The 10‑year Treasury once again pushed above the 5% threshold, a level that has repeatedly acted as a psychological ceiling for equity sentiment. Major indexes closed lower: Dow: –1.21% $S&P 500(.SPX)$ : –0.45% $NASDAQ(.IXIC)$ : –0.01% $NVIDIA(NVDA)$ $Microsoft(MSFT)$ $Apple(AAPL)$ The move was widely an

With the Fed’s policy decision landing today investors are clearly signaling what they want: a central bank that stops waiting and starts acting. The era of “let’s be patient” appears over. Markets want conviction, not caution. That tension was visible throughout Tuesday’s session. Fresh geopolitical shocks out of the Middle East pushed crude sharply higher -both Brent and WTI - while the dollar strengthened and risk appetite faded. Major indexes closed lower: $NASDAQ(.IXIC)$ : –0.78% $NVIDIA(NVDA)$ $Microsoft(MSFT)$ $Apple(AAPL)$ $S&P 500(.SPX)$ : –0.45% Dow: –0.63% The bo

The new week opened with pressure on the AI complex, not because of earnings or data, but due to a shift in tone from some of the industry’s most influential voices. Several leaders in the field publicly argued for slowing the pace of AI development, a stance that may be sensible from a societal perspective, but one that immediately raised questions about the durability of the sector’s massive capex cycle. Major indexes reflected that drag: Dow: –0.29% $S&P 500(.SPX)$ : –0.48% Nasdaq: –0.56% $NVIDIA(NVDA)$ $Microsoft(MSFT)$ $Apple(AAPL)$ The broader market actually held up reasonably well, but tech’s outsized weight

Wall Street closed Friday on a surprisingly strong note, even though the latest inflaxpectations as the Fed Enters a Critical Weektion data all but guarantees a rate increase at next week’s FOMC meeting. The reaction highlights a familiar market behavior: once uncertainty fades, risk appetite often returns. Friday’s close: Dow Jones: +1% (+509 pts) $S&P 500(.SPX)$ : +0.86% $NASDAQ(.IXIC)$ +0.96% $NVIDIA(NVDA)$ $Microsoft(MSFT)$ $Apple(AAPL)$ Despite the rebound, all three indices finished the week lower, with the Dow posting its weakest weekly performance since late March.

If the early‑week softness in crude and the rise in yields felt uncomfortable, the latest moves demand a closer look. Treasury yields broke new ground: The 10‑year pushed to 4.92%, its highest level since 2023. The 30‑year climbed to 5.35%, extending the global sovereign sell‑off. Energy markets added fuel to the fire. Following Iran’s strike on US Navy vessels, WTI surged past $100, while Brent accelerated toward $110. The geopolitical premium is back, and it’s dictating cross‑asset flows. Trump has warned that oil prices may not ease before the midterms, still two months away. With the US–Iran conflict intensifying, investors are increasingly concerned that the energy shock will bleed into broader inflation. Producer inflation confirmed the pressure: Wholesale prices rose 0.4% MoM, drive

THE BULL MARKET JUST PASSED ANOTHER TEST August is officially in the books. And despite a weak final session, the bulls have plenty to celebrate. $S&P 500(.SPX)$ : +2.6%. $NASDAQ(.IXIC)$ : +3.9%. Dow: +1.3% The S&P 500 and Nasdaq just had their best August since 2021. Even more impressive? The Dow has now risen in 15 of the last 16 months, something not seen since 1936. That's not a normal market. That's a market that has repeatedly found buyers. BUT NOW COMES SEPTEMBER And history is about to get involved. Since 1928, September has historically been the S&P 500's worst month, averaging roughly: S&P 500: -1.1%. Dow: -1.1%. Nasdaq: -0.8%. Russell 2000: -0.5% Of course, history doesn't pred