📊 Investors rotated out of AI and into value as another hot inflation print landed. The Dow jumped 1.08%, the S&P 500 added 0.33% and the Nasdaq edged up 0.08% after being down 1.4% at its low. September PPI rose 1.3% on the month and 6.3% on the year, the biggest gains since 2022. 🤖 Anthropic’s third quarter revenue grew to $16.8 billion from $11.6 billion in the second, sources told CNBC, a slower sequential climb than the jump from $4.7 billion in Q1. Some traders read it as too slow to justify the run in chipmakers, though the Financial Times reported the company turned cash flow positive in the quarter. ☁️ CoreWeave ($CRWV) rebounded 5.94% to $69.69 after sinking as much as 9.5% in the morning. Deutsche Bank’s Brad Zelnick called Wednesday’s 15% drop a buying opportunity, arguing the company is scaling responsibly with near-term liquidity in decent shape. 🐊 Crocs ($CROX) spiked 6.15% to $124.77 after Barclays upgraded it to overweight and lifted its target 18% to $139. Analyst Adrienne Yih pointed to direct-to-consumer strength, promotional discipline and growth coming from newer franchises rather than the Classic Clog. 🏦 Bank of America ($BAC) got an upgrade to outperform from Baird, which kept its $62 target for 21% upside. The firm called Wednesday’s selloff overdone and likes the 2027 net interest income outlook, despite yesterday’s earnings miss and higher expenses. 💾 Chip stocks fell for an eighth straight session, the longest slide for the iShares Semiconductor ETF since 2015, down more than 15% over the stretch. Seagate ($STX), Western Digital ($WDC) and SK Hynix extended losses on memory glut fears, with Elon Musk posting that China will be making a lot of RAM in 2028. 📉 The Russell 2000 fell into correction Wednesday, ending 11% below its August 14 record close. Breadth improved elsewhere though, with more than half of S&P 500 names back above their 200-day moving averages, up from about 40% in late September. 👨🏻💻 Researched and written daily by @timemino
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1 Comments
George @mtlgb · 2h
Can we get back to reporting on the TSX as well please? Up over 1.5% today
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