November jobs report now delayed until Dec 16th, after the Fed meeting. So a rate decision will have to be made without October OR November BLS data. Odds of a cut just dropped below 40%.

The Fed minutes underscore what has emerged since the meeting: There may now be a narrow majority of officials (not necessarily FOMC voters) who favor holding steady in December. "Many" is greater than "several." December is shaping up to be a close call.

Continuing US jobless claims rose to the highest since 2021 in today's claims report, implying that people who don't have jobs are having a harder time finding new ones.

Small caps down and large caps soaring today. This will get all the breadth experts upset, but historically bull markets are lead by large caps. We are of the opinion we are still in a bull market and we've been OW large vs small most of this year.

$SPY would have to decline to 667.34 and $QQQ to 606.18 to fill this morning’s gaps. How quickly the gaps get filled -- if at all – gives us an idea of how strong the underlying trend is.

Hot take —> It’s about bitcoin not Nvidia. Power Lunch

Impact Of Selling F-35s To Saudi Arabia On The Region And Beyond What F-35 configuration would the Kingdom actually end up with and what hurdles lie ahead? Story: twz.com/air/impact-of-…

To naysayer of AI boosting productivity...it starts at the micro level. Exhibit A, Walmart's (who's moving from New York Stock Exchange to Nasdaq) earnings today. Walmart provides a strong signal (even a sufficient signal) of what's going to happen to US labor market in the

RC-135 Accompanied By Fighters Off Venezuela Testing Enemy Air Defenses: U.S. Official The flights are part of a massive U.S. military presence in the Caribbean aimed at putting maximum pressure on Venezuela's Maduro. Exclusive: twz.com/air/rc-135-acc…

This is an important contribution to the debate over the December rate cut, from NY Fed President John Williams, a top Powell lieutenant: “I still see room for a further adjustment in the near term to the target range for the federal-funds rate to move the stance of policy

Plunge protection team activated

BoA's Harnett: 2025 US stock price gains were led by tech and the AI boom as a. lower cost of capital incentivized $400bn of AI hyperscaler “arms race” capex, and boosted returns of the non-profitable tech sector, b. market assumed implicit US government backstops for “national

I wish the media would write more detailed stories about RFK and Olivia Nuzzi’s sex life. I barely know anything about it

Up years with down Novembers often set up well for December. $SPY From BofA via Carl Quintanilla

Trump says tariff revenues (and, presumably, costs borne by exporters and/or importers) are set to jump because businesses’ inventory-management strategies to shield themselves from higher import duties can’t continue much longer.

Yardeni: The S&P 500 is back on a slower track than the fast track it was on since April 9 until the end of October. It no longer is outpacing its average year-to-date performance over the past 10 years (chart). In fact, it is up 12.3% ytd, matching the average year-end

If this report from last week is accurate, it says as much about mindset at $NVDA as their memo from yesterday.

Alphabet is the eighth best performing stock in the S&P 500 over the last six months, but it's 10 x larger than the next biggest of the top ten. $GOOGL It's like an aircraft carrier in a race with a fleet of skiffs.

Very interesting article here with a few quotes from the F-35 pilots that escorted B-2’s to Iran. Strikes on nuclear sites, etc. Midnight Hammer. Say they successfully engaged “high-end” surface to air systems that were trying to target the US aircraft. 🇺🇸

A reversal.. $NVDA up, $GOOGL down $ORCL +6%