Economy · News reference
Hot inflation data fuels Fed rate-hike bets, hammering chip and AI-hardware stocks while the Dow tops 52,000 and small caps hold gains; gold rebounds.
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Capitulation Criteria Please click here for an enlarged chart of Direxion Daily Semiconductor Bull 3X ETF (NYSE:SOXL). Note the following: Semiconductors reflect the AI trade, and SOXL is the momo crowd’s
Gold ETFs face mixed signals as higher interest rates weigh on prices, but potential Iran war resolution, sustained central bank buying, and AI bubble concerns could support the precious metal. Central banks are expected to purchase 50 tons of gold monthly in 2026, while gold's share of global reserves has surpassed U.S. Treasuries, providing long-term tailwinds for gold investments.
U.S. stocks rose, Nasdaq gained ~400 points. Moderna jumped 9.1% on strong Q3 results and higher FY26 guidance; other stocks rallied on results and deals.
Seven sectors are higher and four are lower in Friday’s regular session, with growth sectors holding the top three positions. The leaders are separated rather than clustered, with no single gap clearly standing apart from the other breaks across the table.
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