The Weekend Rip
Happy Weekend!

The market was dominated by the Fed's rate cut, which sent small caps and the Dow soaring to new highs but left major tech stocks questioning their ability to actually build the AI infrastructure. Meanwhile, the corporate world went deal-crazy, with Paramount escalating a $108B hostile bid for Warner Bros., Nvidia facing a new China tax that let’s them ship higher-end chips, and Disney trading $1 billion for the right to make AI-generated videos of Mickey Mouse.

Let's recap and prep you for the week ahead. 📝

Monday 🤯: The market slid while waiting on the Fed's rate cut decision, as the great Warner Bros. deal got even more ridiculously dramatic with Paramount upping its hostile bid to $108B using Middle East money and the help of friends in high places. Adding to the intrigue, Trump announced Nvidia can finally sell its powerful H200 chips to China, but only if the U.S. gets a 25% cut of the revenue, turning the chip export ban into a bizarre tax revenue stream.

Tuesday 😴: The market was barely awake on the eve of the expected Fed rate cut, moving slowly as job openings ticked up but major financial players like JPMorgan pre-emptively hiked their expected expenses by 10% for the AI and credit wars ahead. Meanwhile, the meme stock retirement home saw GameStop and Cracker Barrel both disappoint on earnings, which for the latter, not even returning "Old Timer" to its logo could fix.

Wednesday 💃: The market threw a party after the Fed finally delivered the universally anticipated rate cut, sending small caps and the Dow flying toward all-time highs. However, the celebration was cut short by the chaotic "Dot Plot," which featured three official dissents and a wildly split committee that couldn't agree on the next move, meanwhile, Oracle fell 10% because investors were skeptical it could actually build enough cooling racks to deliver on its massive AI deals.

Thursday 🏗️: The Dow and Russell hit record highs, but big tech was left behind as the market got cold feet about the sector's ability to fulfill its massive AI construction promises, evidenced by Oracle sinking after a decent report. Even Broadcom's earnings blowout and 74% surge in AI chip revenue didn't convince exhausted investors, who seemed to prefer the drama of Lululemon's CEO stepping down and the absurdity of Disney trading $1 billion for the right to churn out AI slop videos of Mickey Mouse.

Friday 😴: The market took a much-needed breath after Thursday's record highs, with tech stocks staying in the red as investors continued to question if the sector can actually build the data centers it's promising. Even though Broadcom shattered earnings and reported a massive 74% surge in AI chip revenue, the stock was down because, apparently, a great report is still not "fireworks" enough for the AI-obsessed crowd.

🤩 This week's Stocktwits Top 25 showed outperformance vs. the indexes.

Here are the closing prices: 

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THE BRIEF

Need a concise summary of what's going on this week? Look no further. Here’s a rundown of this week’s earnings and economic data.

Earnings This Week

Above is a quick summary. Check out the full Stocktwits earnings calendar for the other names reporting this week.

Economic Calendar

In addition to the above, check out this week's complete list of economic releases.

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