Does this scream 'Hike!'? It depends on whether you're the Fed, a bull or a bear.
And the likelihood that inflation will be persistent should keep interest rates higher for longer, which will have multiple negative economic consequences.
The bulls are focused on stocks that are benefiting from AI while the bears argue these few names don't fix the other economic issues that are still lurking.
There are two areas I would allow for absurd valuations right now: Anyone who sells what buyers need to integrate AI into their own offerings and those engaged in cybersecurity.
Here's what to avoid.
Plus, HP expects to have PCs with a built in AI program available by 2024.
It involves people pocketing their savings from lower gasoline prices so that the economy cools and the Fed doesn't need to raise rates again.
The company could use the extra revenue that an increase in membership fees would produce, but it has been reluctant to go there.
Plus, the Nasdaq and S&P 500 did not do justice to Thursday's market action as there were far more losers than winners on the day.
The prospect that this miserable debt-ceiling debate could drag out for weeks is causing additional selling pressure.