Stock Market Today: A "massacre" in the AI hardware trade overnight as details of Anthropic's Investor Day trickling out after hours caused a monster sell-the-news moment.
"Market playing full-on defense again," Dennis said in the Stock Trader Network Think Tank Wednesday night. "AI stocks down 3-5% across the board [but] SPY barely down because stocks like Apple (AAPL)." Rotation, rotation, rotation ala Microsoft's (MSFT) Steve Ballmer in that one internet meme.
What a Thursday backdrop to get yet another major economic data point: PPI at 8:30 a.m. EDT.
OptionsAI's CC Lagator, during Wednesday's episode of "Options Unchained" on the PMP YouTube channel, noted the CPI and PPI always come in pairs and traders are often hesitant to call an "All clear!" until they get _both_ reports. That being said, CC described the PPI Thursday as a potential hurricane waiting offshore. If we get another hot inflation reading, the market could see quite a bit of volatility into Friday...
Tesla (TSLA) investors, traders and fan boys and girls will also be eagerly awaiting the unveil event for the long-anticipated Roadster. We're expecting that event to start around 7:55 p.m. CDT - 19:55 in 24-hour/military time, potentially signifying the year Mr. Marty McFly time traveled to in "Back To The Future."
Our very special guest: Stephanie Link, Chief Investment Strategist at Hightower Advisors.
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Disclaimer: the views, thoughts, and opinions expressed in this content are not investment advice and are for informational purposes only.
