Concerns over NVDIA blackwell chips overheating weighed on their shares ahead of their earnings this week, but other tech names performed well with Tesla continuing a Trump bump. A little under the radar shares of dental related companies were rising as investors consider what a removal of flouride from drinking water might mean for dental health. Overall the S&P 500 rose.
Treasury Secretary pick remains a hot topic with list of candidates seemingly growing and Polymarkets now sees former Federal Reserve board member Kevin Warsh as the favorite, with the other contenders now including Marc Rowan (Apollo) to go along with Bessent and Lutnick.
Yields rose with a steeper curve. as the 10Y rose to nearly 4.47% before trading back to 4.42% while the 2Y remains around 4.30%. Bitcoin and crypto continues to trade well.
Israel says last months attack hit some part of Iran's nuclear capabilities and Biden approved the use of U.S. long range missiles by Ukraine to hit further into Russia. On geopolitics in general, reports of attacks on underwater internet cables, and some production shutdowns in Norway, all lead to rising oil prices.
On the day ahead it's Housing Starts.
XTOD: BetMGM says that Tyson-Paul was its most bet combat sport fight (MMA & boxing) in its history. The fight had 3 time the bets and 4 times the money vs. any other combat fight in its history.
67% of the money was on Tyson.
XTOD: Scoop: @BlackRock’s Larry Fink and at least one senior @BlackRock exec has been contracted by Team Trump as they search for Treasury Secretary, @FoxBusiness has learned.
@realDonaldTrump has had a long relationship with Fink, who is one of the best risk managers in the business and has often leaned on him for his views on the market etc. Fink will not be a candidate for Treasury but it tells you something about @realDonaldTrump that he has a big tent idea on how to run economic policy. Refreshing
XTOD: Texas is the energy capital of the world. We’re ready to be #1 in advanced nuclear power. Today, we released our plan to build that industry in Texas. By utilizing advanced nuclear energy, we’ll enhance the reliability of our state grid & provide affordable, dispatchable power.
XTOD: In September, Russian President Putin said if the US were to lift the ban on long-range missile use it would be seen as NATO's "direct participation" in the war.
He added: "This, of course, will significantly change the very essence, the very nature of the conflict."
XTOD: Eliminating the unnecessary is more powerful than automating the unimportant.
https://x.com/darrenrovell/status/1858544621753639400
https://x.com/CGasparino/status/1858617422116176180
https://x.com/GregAbbott_TX/status/1858536429497762207
https://x.com/vtchakarova/status/1858597352639983810
https://x.com/GregoryMcKeown/status/1858620199169392866
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