The Headline Reads
Thursday was the tape’s worst day in a month — S&P 500 -1.2%, Nasdaq -2.2% on AI-capex sticker shock (Alphabet -7%, Tesla -15%) and Brent briefly over $100 after Red Sea tanker attacks. Futures are steadying modestly green this morning, with the FOMC looming next week.
The cleanest setups are earnings-driven: Cleveland-Cliffs tripled EBITDA sequentially and guided Q3 far higher with 14.5% of the float short, and MaxLinear guided Q3 revenue ~25% above consensus yet sold off — a beat being treated like a miss.
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