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Joined April 2013
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$MCY $102 Property & casualty insurer positioned to benefit from higher interest rates (boosting investment income).
Recent strong earnings beat and fundamentals.
$BMY named as a recent “Trade of the Week.” Strong profit margins, ROE, late-stage pipeline progress (including positive Phase 2 cell therapy results for blood cancer), & attractive valuation (P/E 👇 14). targets up to $82.
Durable Goods Orders (August): Released at 8:30 AM ET. Markets expected a modest decline (around -0.3% or similar after prior strength).
This is a key gauge of business investment and manufacturing demand.
Markets remain sensitive to yields, oil, and any overnight geopolitical or macro headlines. September seasonality has been a mild headwind recently.
$AKAM
jumped roughly 20%+ in after-hours trading Thursday after announcing a major expanded multi-year cloud/computing deal with Anthropic valued at $11.6 billion over seven years (with potential to expand by another $9 billion to $20 billion total).
Stronger recent economic data (robust PMIs showing accelerating activity and capacity constraints) has reinforced “higher-for-longer” rate expectations, with markets raising odds of another Fed hike. This is pressuring stocks, especially rate-sensitive and growth names
The bond market sell-off is a dominant driver. The 10-year Treasury yield climbed to multi-year highs (around 5.11–5.15%, highest since 2007), the 30-year reached levels not seen since 2004 (5.43%), and shorter-end yields also rose.
Geopolitics (Iran diplomacy and Trump-Xi optics) and oil direction appear to be the primary near-term drivers, with AI/tech residual momentum and the PMI/EIA data as secondary catalysts.
Wednesday calendar
9:45 a.m. ET S&P Global flash PMIs
Manufacturing, services, composite.
That’s whether the economy is still cooling or not.
10:30 a.m. ET EIA crude inventories
That’s the oil tape.
Diplomacy hopes already knocked crude off the highs.
Tech and AI Momentum
Nasdaq has hit consecutive record closes, driven by AI enthusiasm, semiconductor strength and products like Meta’s Muse AI agent. $META Connect conference continues, with CEO Mark Zuckerberg scheduled to speak later today.
Oil remained choppy near $100 amid Middle East developments and Trump UN remarks on Iran; prices eased on supply/restart reports (e.g., Saudi pipeline), providing a mild tailwind to risk assets earlier in the session.
Focus also on upcoming Trump-Xi meeting.
$SNDK: Closed ~+6.8% (around $1,887). Strong volume; analyst initiation (Buy, $2,400 target from Rosenblatt) cited as catalyst. Broke higher on AI storage narrative.
$MU : Closed higher (reports of ~+2.5–5% range across sources; strong session contribution to Nasdaq).
Elevated volume on AI/memory demand optimism. Technical: Continued strength ahead of upcoming earnings.
Key sector performance:
Top gainers: Materials (~+1.9%), consumer staples (~+1.2%).
Top losers: Financials (−1.68% to −1.98%), energy (weaker), communication services (−0.8%). Chip/AI memory names outperformed.
Overall market tone: Mixed/selective risk-on. Tech and AI-related names drove Nasdaq to a fresh record while the broader market (especially financials and the Dow) lagged. Breadth was mixed (six of 11 S&P 500 sectors declined).
Oil and yields eased, supporting risk assets:
Brent fell >3% (to ~$100), WTI dropped 4.5%, and the 10-year Treasury yield pulled back below 5%. This followed hopes of diplomatic progress on the US-Iran conflict.