01Writing
A short read before the US open, every trading day: the moves that matter, the stories behind them, and what is on the calendar. Not financial advice.
The 10-year yield hit its highest since 2007 and 70 of 100 names we track fell. Meta's enterprise push hit software, and JOLTS lands at 10 a.m. ET.
Futures slipped early Monday as Brent topped $107 and OpenAI paused training. On Friday, Microsoft and banks led, and 61 of 100 names we track rose.
Meta and Intel kept the S&P 500 flat while 57 of 100 names we track fell. Oracle and Arm slid, long yields rose again, and oil eased overnight.
The 10-year Treasury yield hit 5.10%, its highest since 2007, after hot PMI data. Two-thirds of our feed fell, and futures pointed lower into the summit.
Banks, card networks and telecoms fell on fears Meta's Muse AI agent will make switching easy. The Nasdaq still closed at a record as the S&P 500 went flat.
Arm rose 17%, Intel 12% and Meta 11% as the Nasdaq hit a record. Yet more S&P 500 stocks hit 52-week lows than highs, a split last seen in 1999.
The S&P 500 rose 0.17% Friday while 62 of the 100 names we track fell. Micron closed above $1,000 and Coinbase jumped 11.66%. Futures are up on China talks.
SPY rose 1.13% a day after the Fed hike, but the gain was set at the open. Arm, Intel and AMD led; XLF went nowhere and T-Mobile fell 5.57%.
The Fed raised rates for the first time since 2023. The Dow fund fell 1.15% while QQQ held flat, and banks took the worst of it.
The Fed's decision lands at 2 p.m. ET with a quarter-point hike near fully priced. Oil rose 4.2% and the 10-year touched 5.041%.
Chips fell 5.9% Monday while security stocks jumped. The 10-year yield touched 5.02% overnight, and the Fed's two-day meeting starts with hike odds at 92%.
Anthropic and OpenAI CEOs urged slower AI development. Nasdaq futures fell 1.61% and SoftBank 10.7%. The Fed decides Wednesday, hike odds at 86%.