Bitcoin’s $60K rebound just collapsed as $427M in long liquidations followed sticky inflation data
Sticky inflation, firmer activity data, and lower claims left buyers without the rate-cut cover they needed.
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Overnight U.S. Stocks | U.S. Treasury Sell-off Fails to Stop Stock Market Rally; All Three Major Indexes Close Higher, Nasdaq Hits Record High
At market close, the Dow Jones Index rose by 91.30 points (0.18%) to 51,268.26 points; the S&P 500 Index increased by 51.27 points (0.66%) to 7,773.99 points; and the Nasdaq Composite Index gained 286.45 points (1.05%) to 27,477.31 points.
The "easy win" era of AI capital expenditure trades may be ending; Bank of America suggests investors shift to the consumer sector.
Bank of America strategists believe that as the market has already heavily bet on the sustained growth of AI-related capital expenditures and the investment logic of discretionary consumer spending being under pressure, it may become increasingly difficult for investors to achieve excess returns in the future by "going long on stocks benefiting from AI capital expenditure and avoiding stocks related to white-collar consumption."
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