TMTB EOD: Long-end rises, $AMZN underperforms again, $EBAY up on sale news, $SPLK gets bought out, $ROKU $NFLX outperform on potential writer's strike solution, Housing names plummet further, $AVGO

Good afternoon – stocks cratered with more follow-through to yesterday’s weakness and finished near the lows. QQQs were down 1.9% /  SPY down 1.6% / ARKK down 3%.  Treasuries were mixed, w 2 years dipping 3bp while 10 years jumped bps and 30 year jumped 11bps.  There hasn’t been a huge change in fund rate expectations since the Fed decision yesterday – year end rate still pricing in 5.5% while year end ’24 stands a touch under 5%.  QQQs continue to break under the trendline we have been talking about – there doesn’t seem to be a lot of volume resistance until the $340s, we’ll see if we get there. On the macro side, we are in a bit of a vacuum until PCE on 9/29 which is more than week away.