pretty weird way to start off the last trading week of September, but then again every week has been very weird with what’s happening in the macro.
- 10yr jumps to 5.27%, 52 week high- $NVIDIA(NVDA.US) announces $150 buyback and pumps- $Meta Platforms(META.US) announces a new AI enterprise business platform and poached the $MongoDB(MDB.US) CEO- $SpaceX(SPCX.US) completes the first revenue generating Orbital launch for Starship then after market open…- semis all dump except $NVIDIA(NVDA.US) meaning the confidence of the buyback didn’t extend into the broader sector- $Meta Platforms(META.US) dumps 5% on what should be very bullish news for them bringing agents to the enterprise but the semis ALSO dump even though more business agents = more compute so that was weird- $IGV dumps because Meta is now getting into the enterprise so your software names get hit, but the thing creating the hit (Meta) is down and semis which should benefit from Meta are also down when they usually are up when SaaS is down- then $SpaceX(SPCX.US) loses all momentum and seemingly takes $Tesla(TSLA.US) down with it todayno trend or sector trend, just confusion across the board but still a relatively resilient market as $SPY has spent 40 sessions not down 1% or more and even with yields up, the market is not giving out which speaks to how strong the earnings story continues to be.Source: amit
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