BOFA'S HARTNETT WARNS OF MARKET RISK-OFF PERIOD AHEAD
Bank of America's Michael Hartnett expects investors to reduce risk over the next 3–4 weeks, citing 3% real yields, persistent inflation, AI valuation concerns and U.S. midterm election uncertainty.
Hartnett expects an October Fed rate hike, despite markets increasingly pricing in a pause.
His preferred sectors include small caps, REITs and consumer discretionary, while avoiding additional technology exposure.
The key takeaway: Higher yields and political uncertainty could pressure risk assets in the near term.
(@WalterBloomberg)
Bank of America's Michael Hartnett expects investors to reduce risk over the next 3–4 weeks, citing 3% real yields, persistent inflation, AI valuation concerns and U.S. midterm election uncertainty.
Hartnett expects an October Fed rate hike, despite markets increasingly pricing in a pause.
His preferred sectors include small caps, REITs and consumer discretionary, while avoiding additional technology exposure.
The key takeaway: Higher yields and political uncertainty could pressure risk assets in the near term.
(@WalterBloomberg)
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GERMANY'S UPPER HOUSE APPROVES FURTHER RELEASE OF OIL STOCKS FOLLOWING G7 AGREEMENT
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(@WalterBloomberg)
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CANTOR FITZGERALD RAISES STRATEGY ($MSTR ) PRICE TARGET TO $208
Cantor Fitzgerald raised its price target on Strategy to $208 from $186, maintaining an Overweight rating.
Analyst Ramsey El-Assal increased his 12-month Bitcoin (bitcoin:native ) price assumption to $112,000 from $98,000, factoring in Strategy's approximately 848,000 BTC holdings.
The firm's updated valuation implies an enterprise value of $110 billion, up from $97 billion.
(@WalterBloomberg)
Cantor Fitzgerald raised its price target on Strategy to $208 from $186, maintaining an Overweight rating.
Analyst Ramsey El-Assal increased his 12-month Bitcoin (bitcoin:native ) price assumption to $112,000 from $98,000, factoring in Strategy's approximately 848,000 BTC holdings.
The firm's updated valuation implies an enterprise value of $110 billion, up from $97 billion.
(@WalterBloomberg)
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PRESIDENT TRUMP'S SCHEDULE — FRIDAY, OCTOBER 16
🔸 8:00 AM ET — Executive Time
🔸 10:00 AM ET — Intelligence Briefing
🔸 2:45 PM ET — Political Rally in Dalton, Georgia
🔸 7:30 PM ET — RNC Event at Mar-a-Lago, Florida
(@WalterBloomberg)
🔸 8:00 AM ET — Executive Time
🔸 10:00 AM ET — Intelligence Briefing
🔸 2:45 PM ET — Political Rally in Dalton, Georgia
🔸 7:30 PM ET — RNC Event at Mar-a-Lago, Florida
(@WalterBloomberg)
CANTOR FITZGERALD SEES MAJOR BUYING OPPORTUNITY IN COREWEAVE ($CRWV )
Cantor Fitzgerald reiterated its Overweight rating and $176 price target on CoreWeave, calling the recent selloff an attractive entry opportunity.
Despite debt yields reaching 15%, analyst Brett Knoblauch argues the market is underestimating CoreWeave's position.
Nearly all 2027 capacity is already contracted, while Nvidia has agreed to backstop unsold capacity.
(@WalterBloomberg)
Cantor Fitzgerald reiterated its Overweight rating and $176 price target on CoreWeave, calling the recent selloff an attractive entry opportunity.
Despite debt yields reaching 15%, analyst Brett Knoblauch argues the market is underestimating CoreWeave's position.
Nearly all 2027 capacity is already contracted, while Nvidia has agreed to backstop unsold capacity.
(@WalterBloomberg)
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ZELENSKIY SAYS UKRAINE EXPECTS ADDITIONAL F-16 BY END OF YEAR
(@WalterBloomberg)
(@WalterBloomberg)
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ANTHROPIC SECURES BB+ CREDIT RATING AS WALL STREET PREPARES $60 BILLION AI FINANCING
Anthropic received a BB+ credit rating from KBRA, just one notch below investment grade, ahead of a $35 billion chip financing deal.
Now, Wall Street banks are reportedly assembling another $60 billion financing package for AI chips developed by Google ($GOOGL) and Broadcom ($AVGO).
The company could also issue up to $42 billion in convertible notes to finance chip leases.
The key concern: Anthropic's massive AI expansion increasingly depends on access to affordable debt financing.
(@WalterBloomberg)
Anthropic received a BB+ credit rating from KBRA, just one notch below investment grade, ahead of a $35 billion chip financing deal.
Now, Wall Street banks are reportedly assembling another $60 billion financing package for AI chips developed by Google ($GOOGL) and Broadcom ($AVGO).
The company could also issue up to $42 billion in convertible notes to finance chip leases.
The key concern: Anthropic's massive AI expansion increasingly depends on access to affordable debt financing.
(@WalterBloomberg)
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ZELENSKIY SAYS THERE IS NO DISCUSSION TO SUBSTITUTE STARLINK
(@WalterBloomberg)
(@WalterBloomberg)
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ZELENSKIY SAYS EUROPEAN ALLIES HAVE ENOUGH PATRIOT MISSILES FOR UKRAINE TO LIVE THROUGH WINTER
(@WalterBloomberg)
(@WalterBloomberg)
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ZELENSKIY: DIESEL DEAL IS INAPPROPRIATE; SURE GAS DEAL WILL FOLLOW
(@WalterBloomberg)
(@WalterBloomberg)
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🇯🇵 BOJ'S UEDA SIGNALS FURTHER RATE HIKES AS INFLATION NEARS 2%
Bank of Japan Governor Kazuo Ueda reaffirmed that the BOJ will continue raising interest rates as underlying inflation approaches its 2% target.
Ueda said economic conditions remain broadly in line with forecasts, while global policymakers appear more optimistic about AI-driven demand than previously expected.
The key takeaway: The timing and pace of future rate hikes will depend on currency movements, AI demand and Middle East developments.
(@WalterBloomberg)
Bank of Japan Governor Kazuo Ueda reaffirmed that the BOJ will continue raising interest rates as underlying inflation approaches its 2% target.
Ueda said economic conditions remain broadly in line with forecasts, while global policymakers appear more optimistic about AI-driven demand than previously expected.
The key takeaway: The timing and pace of future rate hikes will depend on currency movements, AI demand and Middle East developments.
(@WalterBloomberg)
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POPE LEO SHOWING 'STEADY IMPROVEMENT' AFTER LUNG CANCER SURGERY -- VATICAN
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BOFA WARNS AI BOOM COULD FOLLOW HISTORIC BUST CYCLES
Bank of America warns that the AI investment boom is showing signs of a classic capital-cycle risk: surging spending, intensifying competition and falling prices.
Hyperscaler capital expenditure expectations have jumped from $330 billion to $1 trillion, equivalent to roughly 3% of U.S. GDP.
Meanwhile, AI token prices have fallen around 50% since summer, raising concerns that growing usage may not translate into sufficient revenue.
The key risk: AI technology could succeed while investors suffer from overinvestment and declining returns.
(@WalterBloomberg)
Bank of America warns that the AI investment boom is showing signs of a classic capital-cycle risk: surging spending, intensifying competition and falling prices.
Hyperscaler capital expenditure expectations have jumped from $330 billion to $1 trillion, equivalent to roughly 3% of U.S. GDP.
Meanwhile, AI token prices have fallen around 50% since summer, raising concerns that growing usage may not translate into sufficient revenue.
The key risk: AI technology could succeed while investors suffer from overinvestment and declining returns.
(@WalterBloomberg)
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APPLE'S IPHONE DUO SELLS OUT MINUTES AFTER PRE-ORDERS OPEN
Apple's ($AAPL ) new iPhone Duo saw its initial pre-order inventory sell out almost immediately, with estimated delivery dates slipping from October 23 to November 16–23.
However, the rapid sellout may reflect limited initial production rather than exceptionally strong demand, amid reported manufacturing challenges.
The key takeaway: Early demand appears strong, but Apple's constrained launch inventory makes the scale of consumer interest difficult to assess.
(@WalterBloomberg)
Apple's ($AAPL ) new iPhone Duo saw its initial pre-order inventory sell out almost immediately, with estimated delivery dates slipping from October 23 to November 16–23.
However, the rapid sellout may reflect limited initial production rather than exceptionally strong demand, amid reported manufacturing challenges.
The key takeaway: Early demand appears strong, but Apple's constrained launch inventory makes the scale of consumer interest difficult to assess.
(@WalterBloomberg)
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FED HIKE ODDS CRASH FROM 55% TO 13%
Warsh signals an October pause despite inflation hitting 3.7%.
Kalshi now puts the odds of a Fed hold at 86%, up from 50%.
📊 Watch the odds move in real time 👇
https://t.co/qUEGIdb1ac
(@WalterBloomberg)
Warsh signals an October pause despite inflation hitting 3.7%.
Kalshi now puts the odds of a Fed hold at 86%, up from 50%.
📊 Watch the odds move in real time 👇
https://t.co/qUEGIdb1ac
(@WalterBloomberg)
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U.S. IMPORT AND EXPORT PRICES SURGE ABOVE EXPECTATIONS
U.S. September trade inflation came in hotter than expected, signaling persistent price pressures.
🔸 Import prices: +1.1% (forecast +0.8%)
🔸 Export prices: +2.2% (forecast +1.0%)
🔸 Import prices YoY: +8.1%
🔸 Export prices YoY: +11.6%
🔸 Petroleum import prices: +4.6%
The key takeaway: Rising energy costs and stronger-than-expected trade prices reinforce inflation concerns ahead of the Fed's October meeting.
Source: U.S. Bureau of Labor Statistics
(@WalterBloomberg)
U.S. September trade inflation came in hotter than expected, signaling persistent price pressures.
🔸 Import prices: +1.1% (forecast +0.8%)
🔸 Export prices: +2.2% (forecast +1.0%)
🔸 Import prices YoY: +8.1%
🔸 Export prices YoY: +11.6%
🔸 Petroleum import prices: +4.6%
The key takeaway: Rising energy costs and stronger-than-expected trade prices reinforce inflation concerns ahead of the Fed's October meeting.
Source: U.S. Bureau of Labor Statistics
(@WalterBloomberg)
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IRAN SIGNALS OPENNESS TO DIALOGUE AS OIL PRICES DECLINE
Regional media report that Iran's president says Tehran is not seeking nuclear weapons and is ready for dialogue.
The reportedly softer diplomatic tone is supporting market risk appetite, while oil prices move lower amid hopes of easing tensions.
The key takeaway: Any credible progress toward negotiations could reduce geopolitical risk premiums in energy markets.
(@WalterBloomberg)
Regional media report that Iran's president says Tehran is not seeking nuclear weapons and is ready for dialogue.
The reportedly softer diplomatic tone is supporting market risk appetite, while oil prices move lower amid hopes of easing tensions.
The key takeaway: Any credible progress toward negotiations could reduce geopolitical risk premiums in energy markets.
(@WalterBloomberg)
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GERMAN FOREIGN MINISTER: EUROPE IS IN IRAN'S SIGHTS, WE WILL NOT TOLERATE IRAN'S HOSTILE ACITIVITIES
(@WalterBloomberg)
(@WalterBloomberg)
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$CRWV - COREWEAVE SHORT SELLERS MADE AROUND $806 MLN IN PAPER PROFIT ON WEDNESDAY, WHEN STOCK FELL 15.5% - ORTEX
(@WalterBloomberg)
(@WalterBloomberg)
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U.S. INDUSTRIAL PRODUCTION BEATS EXPECTATIONS IN SEPTEMBER
U.S. industrial production rose 0.7% in September, beating expectations of 0.4%.
🔸 Manufacturing: +0.3% (in line)
🔸 Utilities: +3.5%
🔸 Mining: +0.2%
🔸 Capacity utilization: 76.9% (forecast 76.5%)
🔸 Industrial output excluding autos: +0.9%
The key takeaway: Stronger industrial activity signals economic resilience, potentially reinforcing the Fed's cautious stance on inflation.
(@WalterBloomberg)
U.S. industrial production rose 0.7% in September, beating expectations of 0.4%.
🔸 Manufacturing: +0.3% (in line)
🔸 Utilities: +3.5%
🔸 Mining: +0.2%
🔸 Capacity utilization: 76.9% (forecast 76.5%)
🔸 Industrial output excluding autos: +0.9%
The key takeaway: Stronger industrial activity signals economic resilience, potentially reinforcing the Fed's cautious stance on inflation.
(@WalterBloomberg)
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