Micron Nvidia AMD SanDisk Stocks This Is Not The Crash Everyone Expects

AI-generated source summary

The analysis highlights concerns in the bond market with soaring 10-year treasury yields hitting 5.30%, a level not seen since 2007, and 30-year yields at their highest since 2002. This is putting pressure on stocks, as seen with the S&P 500 ending September in negative territory. The pause in OpenAI's AI model training and the recent inflation report, which showed a lower-than-expected 3.4% headline PCE and 3.0% core PCE, were noted. However, a closer look at the data reveals that July's numbers were revised down, meaning inflation didn't actually fall. The market's reaction to Micron's blow-out earnings was muted, with the stock barely reacting despite record-breaking results, suggesting a disconnect between company performance and market sentiment. The analysis also touches upon the rising cost of borrowing, with mortgage rates around 7.58%, and the potential impact of sustained high yields and inflation on growth stocks. Furthermore, the text points out that hedge funds are trimming broad market exposure while continuing to buy into tech, particularly in the AI sector. Key signals to watch include the upcoming jobs report, the 10-year yield at 5.30% resistance, and Micron's earnings outlook, which despite being strong, saw a muted stock reaction. The core message is to "follow the capital" and "study the charts behind the headlines" rather than reacting to fear or greed.

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