To The Moon

Tonight’s jobs report will determine the market’s initial reaction, while next Friday’s CPI may determine the Federal Reserve’s final decision. With U.S. markets closed on Monday for Labor Day, stocks will carry this rate uncertainty into a three-day weekend. On September 3, all three major U.S. indexes rallied: the Dow rose 1.18%, the S&P 500 gained 1.06%, and the Nasdaq climbed 1.40%. The catalyst was not another corporate earnings release, but a comment from Federal Reserve Governor Christopher Waller: if upcoming data confirms that inflation is cooling, he would be inclined to support keeping interest rates unchanged in September. Markets quickly reduced their rate-hike bets. According to the CME FedWatch Tool, the probability of a September hike fell from 63.2% to 50.4% in one day

$Broadcom(AVGO)$ $Dell Technologies Inc.(DELL)$ $Palo Alto Networks(PANW)$ Broadcom delivered record results and raised its fiscal 2027 AI revenue target to $115 billion. However, its fourth-quarter revenue guidance fell about 0.7% short of market expectations—and that small gap still sent the stock down more than 6% at one point after hours. After the market closed on September 2, Broadcom $AVGO reported its fiscal third-quarter 2026 results: Revenue reached $29.591 billion, up 86% year over year and above the $29.36 billion consensus estimate; Adjusted earnings per share came in at $3.32, ahead of the $3.24 estima

Rising oil prices are no longer just an energy-sector story. They are pushing Treasury yields higher through inflation expectations, raising the probability of a Fed rate hike in September, and compressing valuations across the rest of the market—the September 1 selloff in U.S. equities was the result of this entire chain being repriced at once. On Tuesday, September 1, all four major U.S. indexes closed lower. The S&P 500 fell 0.71% to 7,631.47, the Dow dropped 419.02 points to 52,766.88, the Nasdaq Composite declined 1.03% to 26,099.77, and the Russell 2000 fell 1.23% to 2,920. The real driver on the day came from the Middle East. U.S. forces launched a new round of strikes against Iranian targets around the Strait of Hormuz, after two oil tankers had been attacked in the waterway. T

California’s Wildfire Bill Turns PCG and EIX Back Into High-Risk Assets One-line takeaway: Utility stocks may offer protection against the economic cycle, but they are not necessarily protected from wildfire liabilities, regulatory changes or the legal risks of a single state. The biggest individual stock moves in the U.S. market on Monday did not come from the technology sector, but from traditionally “defensive” stocks. PG&E $PG&E Corp(PCG)$ fell 20.1%; Edison International $Edison(EIX)$ dropped 23.1%; Sempra $Sempra(SRE)$ declined 3.1%. The trigger was a California wildfire bill. The final version did not in

Nvidia has largely answered the question of whether AI demand remains strong. Investors are now examining how its customers finance GPU purchases—and how much risk Nvidia is assuming to keep the infrastructure boom moving. Nvidia jumped 8.7% in the first session after earnings, lifting the Philadelphia Semiconductor Index by 2.3%. One day later, NVDA fell 4.6%. Fed Chair Kevin Warsh’s hawkish remarks pushed Treasury yields and rate-hike expectations higher, but monetary policy was not the whole story. Friday’s decline was likely driven by three overlapping factors: Higher rates pressured technology valuations. Investors took profits after Thursday’s 8.7% surge. Concerns about circular financing, customer spending and falling margins returned to the spotlight. The earnings were genuinely st

For months, investors treated AI as an existential threat to software companies. The latest earnings reports offered a different possibility: companies with proprietary enterprise data and deeply embedded workflows may be able to charge for AI instead of being replaced by it. Salesforce surged 22.6%, CrowdStrike climbed 20.5%, while the iShares Expanded Tech-Software Sector ETF gained roughly 7.6%. ServiceNow and Palo Alto Networks also joined the rebound. Salesforce: Agentforce is starting to generate real revenue Salesforce reported fiscal Q2 revenue of $11.35 billion, up 11% year over year, and raised its full-year revenue outlook to $46.1–46.4 billion. The AI numbers attracted even more attention: Agentforce and Data 360 ARR approached $3.9 billion, up 210%. Agentforce ARR exceeded $1.

A weaker dollar, renewed ETF inflows and improving U.S. regulatory expectations have pushed Bitcoin back toward $80,000. The next test is whether real spot demand can sustain the rally after the initial burst of enthusiasm. Bitcoin briefly traded above $80,000, reaching an intraday high of $81,237—its highest level since mid-May. BTC has gained roughly 28% in August, putting it on track for its strongest monthly performance since November 2024. It has since pulled back toward $78,000, showing that the $80,000–$81,200 zone remains a meaningful resistance area. What is driving the rally? 1. The “debasement trade” is back The U.S. Treasury’s expanded purchases of longer-dated government bonds have helped ease bond yields, but they have also added pressure to the dollar. When investors become

$Bloom Energy Corp(BE)$ Chips determine how fast AI can run, but electricity determines whether a data center can operate at all. A new Bloom Energy position disclosed by the Pelosi household and Aggreko’s proposed IPO are putting the AI power shortage back in focus. As semiconductor stocks pull back, companies that can solve the data-center electricity bottleneck are attracting fresh attention. The latest catalyst is a congressional filing showing that Nancy Pelosi’s spouse, Paul Pelosi, established and increased a position in Bloom Energy (BE). According to the disclosure, the Pelosi household purchased: A total of 15,000 BE shares A total of 200 BE call options A $100 strike price An expiration date of June 17, 2027 The transactio

The Nasdaq fell while the Dow advanced. Nvidia and memory stocks sold off, while Visa, Mastercard, JPMorgan, Coca-Cola and Expedia moved higher. Money is not necessarily leaving U.S. equities—it is becoming more selective. The most important signal from the latest session was not the index decline itself. It was the widening divergence between market sectors. Nasdaq: -0.76% S&P 500: -0.28% Dow Jones: +0.26% QQQ: approximately -1.0% Technology ETF XLK: approximately -1.8% Equal-weight S&P 500 ETF RSP: +0.1% The contrast was even clearer at the stock level. AI and semiconductor names weakened: Nvidia: -2.9% Micron: -5.9% Sandisk: -6.5% Broadcom: -2.6% Semiconductor ETF SMH: -2.5% Meanwhile, financials and selected consumer names attracted buyers: Financial ETF XLF: +1.3% JPMorgan: +1

$Moderna, Inc.(MRNA)$Moderna and Merck’s personalized cancer therapy met its key goals in a Phase 3 melanoma trial, sending MRNA sharply higher and lifting the broader biotech sector. Biotech stocks have finally found a major catalyst. Moderna (MRNA) surged roughly 177%, while Merck (MRK) gained about 12.6%. BioNTech (BNTX), which is also developing mRNA-based cancer treatments, climbed nearly 22%. Biotech ETFs XBI and IBB rose about 5.9% and 6.6%, respectively. The catalyst was positive Phase 3 data for intismeran autogene, also known as V940 or mRNA-4157. The personalized mRNA therapy is being jointly developed by Moderna and Merck and tested in combination with Merck’s blockbuster immunotherapy drug Keytruda. The combination met