The dollar index just tagged a 19-month high after its biggest two-day rally in five months, pressing the 103 level. Gold already slipped under $4,000. Tight money walked back in, and the so-called hedge folded. $DXY #Fed
The $DXY Dollar Index has extended its biggest two-day rally in 5 months to trade at 19 month highs.
This certainly qualifies for me as a short-term break higher - looks like a bull flag continuation - but 103.00/102.90 level is much more significant
SoftBank just booked a $7.1 billion quarterly loss, its first in almost two years, after a $3.7 billion writedown on power equipment for U.S. AI data centers. Then it signaled it would ease up on the AI chase. The capex boom just sent an invoice. $SFTBY #AI
Global tech investor SoftBank Group signaled that it would temper its aggressive pursuit to cash in on AI after it posted a $7.1 billion loss in the most recent quarter https://t.co/dzJGIfLuxm
The New York Fed says Americans added $22 billion in credit card debt in one quarter, to a record $1.29 trillion. Household borrowing hit $19.1 trillion. A week after the cost-of-living campaign, the holidays are arriving on plastic. #Debt#Inflation
Just one week after affordability took center stage in the midterm elections, fresh data shows Americans are heading into the holiday shopping season saddled with record credit card balances. https://t.co/XMTrva6wno
Hyde-Smith conceded Mississippi after days of counting. Democrats flipped a ruby-red Senate seat in a state with no recount process. If your model called this one safe, the model is why you lost it. #Mississippi#Senate
Michigan Sen.-elect Abdul El-Sayed told CNN it's "a moment for a refresh" in Senate Democratic leadership. Schumer helped deliver the majority. The thank-you arrived before the new guy was even sworn in: maybe the boss should go.
#Schumer#Democrats
Sanders and Rep. Greg Casar's Ban Artificial Superintelligence Act would create a new cabinet department, pause advanced AI development, and put "reckless" violators away for up to 20 years. They compared the penalties to nuclear weapons law. The bill is still in committee. China isn't pausing. Washington's idea of an arms race is a permit and a prison term.
#AI #Democrats