Good morning. QQQs +30bps. Fairly quiet start to the week on the macro data front as the bond market is closed today in observation of Veterans Day (CPI and PPI on Wed and Thursday). BTC +3% crossing $80k over the weekend as boosted by Trump’s embrace of Digital assets (COIN +13% / HOOD +6% in sympathy). TSLA +6% continues to rip (wedbush taking PT to $400).
Some good sell-side reports with Jefferies talking up CRM checks and MS taking up DELL AI #s. MPWR -13% getting hit on a neg Edgewater report. US ordering TSM to halt AI shipments to China. NVDA previews starting to roll in. TheInformation talks scaling laws re: OpenAI. MNDY not good enough…We get into all this and more below….
CRM: Jefferies says checks indicate a pick up in momentum post DreamForce and excitement around AgentForce
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