A bit of a short one today as i’m juggling earnings calls…QQQs +24bps as today felt a lot better than the past couple of days despite QQQs not being able to hold their gains again. Market is now pricing in 60bps worth of cuts as treasuries extended gains with yields down another 2-4bps across the curve. BTC sold off another 5% down below $85.
Indexes were weighed down by AAPL -3% - I didn’t see any great reason why it was down but might have missed something. I would characterize today’s price action as fair and somewhat healthy vs. the last week - beats held their gains while misses and negative news went down. Software names like AXON INTU ZI and WDAY all finished up while CART rightfully got dinged. CVNA nice follow through to the good yipit data yesterday, for example. AI semis had a nice bid as did most of large cap Internet.
It almost seemed - dare I say - a bit normal! Which is a good thing.
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