Inflation Reenters | Bitcoin Bleeds | ETFs Unwind | PPI Sets the Tone

The market is holding its breath again.

Not for earnings, not for geopolitics, but for the single number that snaps six weeks of blindness back into focus. 

Futures are flat because the next move belongs to today’s wholesale inflation print, and everyone knows it. 

This is the first real macro signal since the shutdown froze the dashboard, and the entire December rate path is riding on it.

Tech still owns the spotlight. 

Alphabet’s surge is dragging the Nasdaq out of its slump, Broadcom is screaming higher on TPU momentum, and Meta’s interest in Google’s chips is shaking Nvidia’s grip on the hardware stack. 

But even this AI rebound is orbiting the same moment: the Fed finally gets the data it’s been lacking, and the market finally stops trading fog.

Crypto is flashing the other side of the tape. 

Bitcoin ETFs are bleeding billions, a clean tell that liquidity is tightening underneath the rally. 

Every sector is moving on headlines, but the follow-through depends on what PPI says about how sticky inflation really is.

Markets aren’t drifting; they’re waiting. 

Tuesday decides whether the cut probability stays pinned near 80% or evaporates in minutes. 

The rally’s oxygen isn’t momentum — it’s clarity, and the Fed gets it at 8:30.

Investor Signal

The shutdown turned the macro map into a blank page, and traders filled the void with political reversals, liquidity guesses, and AI-led rotation. 

That ends now. 

For the first time since September, policy will be responding to numbers, and that’s when positioning starts to matter again. 

Lean long only if services inflation cools; a hot print reopens the hawkish path.

The world's wealthiest individuals are making huge moves with their money.

Warren Buffett just liquidated billions of shares. Bill Gates sold 500,000 shares of Microsoft. Jeff Bezos filed to sell Amazon shares worth $4.8 billion.

What is going on?

One multi-millionaire believes they are preparing for a catastrophic event.

But not a crash, bank run, or recession.

It’s something we haven’t seen in America for more than a century.

For the full story, click here.

Tuesday’s PPI is the first real data the Fed has seen in six weeks, and it hits right as the market is pricing policy on fumes.

This is the release that breaks the blackout: the wholesale layer that tells the Fed whether the summer’s inflation chaos actually stuck or simply vanished in the noise.

And because PPI flows straight into next week’s PCE, the number sets the tone for the December meeting before Powell even speaks.

The setup is loaded with consequence.

Rate-cut odds have been ricocheting between 40% and 90% because traders have been guessing into an information vacuum, and that vacuum ends tomorrow.

The moment the number hits, the market shifts from trading speculation to trading policy reality.

What matters most isn’t the month-over-month change, it’s the direction it locks in.

A hotter services print tells the Fed that the sticky part of inflation isn’t loosening, which forces policymakers to slow the easing path and defend their credibility.

A softer number gives doves ammo to argue that the midsummer spike was noise, not trend, and that cuts are safe to accelerate.

Either way, the tape finally gets what it’s been missing: alignment between data, expectations, and the Fed’s reaction function.

The market hasn’t had that clarity since September. 

The entire front end of the curve is positioned to snap the moment PPI lands.

Deeper Read

PPI’s return restores the supply-chain layer that anchors the Fed’s inflation map.

The absence of that data created a distorted read on services and margins that has been driving whipsaw moves in cut probabilities.

Now the sequencing is back: PPI → PCE → December decision.

Investor Signal

Expect the front end to move first and violently. 

PPI is the pivot.

Position for volatility around services components; that’s where the Fed is looking.

Trade path, not timing — it will determine whether December is a cut, a pause, or a fight.

Google reclaimed the narrative.

While the rest of Big Tech is choking on capex fear and valuation compression, Alphabet is sprinting toward $4 trillion because it’s the only megacap proving AI can scale without breaking the business underneath it. 

The market is rewarding the one player whose AI engine strengthens its core instead of cannibalizing it.

Gemini 3’s benchmark reset competitive math. 

Google trains frontier models on its own chips, in its own data centers, and pipes them through 90% of global search. 

That vertical stack threatens Nvidia’s grip on AI compute and punctures the idea that Microsoft/OpenAI have the sole model advantage. 

Investors aren’t buying hype — they’re buying insulation: the only AI giant with margins, distribution, and cash flow accelerating at the same time.

That’s why this moment matters for the market. 

Google is proving that the AI economy will be won by whoever controls the stack end-to-end, not whoever spends the most on GPUs. 

Its balance sheet can fund the race without distorting the company. 

Its antitrust cloud just cleared. 

And its core ads business remains the printing press that every other AI contender wishes they had.

The competitive risk isn’t external anymore, it’s whether Google keeps executing. 

Right now, the tape says yes.

Deeper Read 

Google’s TPU advantage means every model breakthrough compounds inside a closed loop of chips, data, and distribution. 

That lowers marginal AI costs in a way no peer can match. 

The longer this loop tightens, the more Alphabet’s AI economics diverge from the rest of Big Tech.

Investor Signal 

Stay long Google into the $4T breach; the market is rerating vertical AI control, not spending races.

Trim exposure to AI names whose margins depend on Google not winning. 

Hedge chip suppliers are vulnerable to TPU displacement as Google’s model-hardware loop scales.

The rate-cut rally is already taking shape — and our analysts just pinpointed 10 stocks most likely to lead it.

They’ve dug through every chart, sector, and earnings trend to find companies positioned for explosive upside once the Fed eases.

From AI innovators to dividend aristocrats, these are the names attracting billions in early institutional money.

Miss them now, and you’ll be chasing the rally later.

Get the Top 10 Best Stocks to Own in 2026 — free today before the next leg higher begins >>

Meta didn’t just kick the tires on Google’s TPUs — it fired a warning shot at the entire AI hardware stack.

When a company burning $70B+ a year on infrastructure even considers switching silicon, the market has to reprice who owns the future of compute. 

And it did: Nvidia slipped, Alphabet climbed, and every hyperscaler suddenly looks one step closer to breaking their dependency on a single supplier.

This is the shift investors have been waiting for — buyer optionality finally showing up in the tape.

Meta exploring TPUs in 2027 is validation that Google’s vertical integration is no longer an internal moat but an exportable product. 

Renting TPUs from Google Cloud next year would accelerate that shift and cement the idea that Nvidia’s pricing power will not survive untouched.

The stakes are enormous. 

NVIDIA’s dominance isn’t disappearing, but the market is waking up to the reality that hyperscalers can — and must — diversify as their AI ambitions balloon. 

Google’s chip ecosystem now threatens Nvidia from two angles: internal substitution and external adoption. 

If one megacap defects, others will model the economics immediately.

Investors aren’t trading the headline, they’re trading the direction of travel. 

And today’s move says the balance of power in AI hardware is no longer static.

Deeper Read

Meta’s evaluation of TPUs signals hyperscalers want cost stability, not dependence, as AI scaling curves steepen. 

Google’s custom silicon gives it a structural margin advantage that resonates across cloud, training, and inference. 

If TPUs gain traction outside Google, the chip market becomes a multi-pole ecosystem instead of a single-vendor monarchy.

Investor Signal

Hedge Nvidia near-term — optionality pressure is now a recurring theme, not a one-off scare.

Watch hyperscaler procurement signals: the next buyer shift will move the entire semiconductor complex.

The outflows are no longer subtle. 

They’re flooding straight through BlackRock’s flagship ETF.

More than $2.2 billion has rushed out of the iShares Bitcoin Trust this month, a firehose of exits that tells you exactly where the unwind is concentrated: the newest, most rate-sensitive money in the entire crypto complex.

Bitcoin’s worst month since 2022 is flushing out every holder who came in through the ETF boom.

The pattern is unmistakable.

This isn’t long-duration conviction tapping out; it’s hot capital reacting the moment macro turns ugly.

ETF rails made crypto effortless to buy, and now they’re making it effortless to abandon as consumer sentiment collapses, volatility spikes, and recession hedges outperform.

The market is using BlackRock’s fund as the real-time barometer for risk appetite.

The selling is mechanical, not ideological… a rotation into safety that hits crypto first and hardest whenever the Fed path wobbles.

And because ETF money moves as fast as the tape does, the flows are extending the downside, amplifying every macro scare and accelerating every de-risking wave.

Bitcoin is acting like the first trim in a tightening cycle, not a hedge against it.

And the ETF outflows are broadcasting that shift with brutal clarity.

Deeper Read

The velocity of exits shows how exposed ETF buyers are to rate expectations and sentiment shocks.

Crypto’s liquidity profile has changed: retail and allocators can now offload exposure as quickly as they add it.

This structural flow dynamic is turning bitcoin into the most responsive risk barometer in the entire market.

Investor Signal

Fade rallies while ETF outflows run this hot — flows lead price in this regime.

Accumulate only once the tape shows stabilization in the largest vehicles; that’s where the turn will show up first.

Use gold or short-duration credit as hedges while crypto remains the market’s primary de-risking outlet.

Now It's About to Transform the World

After his wife's untimely death, he used Artificial Intelligence to get sweet revenge...

But what happened next could change everything... while making a select few early investors very rich. 

Get the whole weird story here.

Sandisk’s leap into the S&P 500 exposed what this market is actually rewarding.

Explosive revenue traction, AI-linked hardware demand, and operational momentum are beating out headline noise, crypto treasuries, and narrative heat.

A stock that ripped nearly 400% in three months was always the index-ready contender, and the committee made that reality official.

This move is pure signal. 

Capital is flowing toward companies tied directly to the AI buildout, not the ones riding around it.

Sandisk checks every box the modern S&P is prioritizing: profitability, scale, liquidity, and role in the compute supply chain. 

While Strategy leaned too hard on a balance sheet story the index doesn’t view as durable.

Investors are treating Sandisk as one of the year’s cleanest AI-adjacent winners, and now passive funds are forced to follow that momentum.

The inclusion also rewires the flows.

Being pulled into the S&P instantly broadens Sandisk’s buyer base, stabilizes liquidity, and locks in the validation that every fast-growing mid-cap fights for.

It reinforces the new selection logic: if you want a place in the benchmark, show real fundamentals tied to the infrastructure of AI, not a shiny corporate treasury.

Sandisk didn’t edge out Strategy; the S&P’s rulebook did.

And that rulebook is tilting toward companies that can scale into AI’s demand curve with actual revenue behind them.

Deeper Read

Sandisk’s promotion reflects a structural shift toward companies delivering tangible contribution to the AI supply chain.

Committee discretion is increasingly being used to align the index with the fastest-growing corners of compute and storage.

This trend raises the bar for future entrants: narrative momentum matters less than operational output.

Investor Signal

Expect forced passive inflows to extend Sandisk’s rally into the rebalance window.

Favor hardware-linked AI names with profitability and scale; they’re now index-candidate territory.

Treat these inclusion decisions as a map of where institutional capital is migrating, not a one-day headline.

Everything this month has been a placeholder — AI rotations, crypto bleeding, nuclear reratings, subsidy whiplash — all moving without the macro coordinates that give the tape direction. 

That disappears at 8:30am. 

Wholesale inflation is the first clean signal in six weeks, and it resets the entire story the market has been trading on instinct.

Tech’s rebound is real, but it’s happening in a vacuum. 

Crypto’s unwind says liquidity isn’t as loose as the Nasdaq implies. 

Nuclear’s surge, subsidy extensions, and prediction-market battles show policy is rewriting sectors faster than fundamentals can respond. 

But all of it sits downstream from the Fed’s reaction to one number.

Markets haven’t had alignment since September. 

Tuesday restores it — data, then PCE, then December. 

A rally built on anticipation finally meets measurement, and momentum finally meets consequence. 

The question isn’t whether the tape moves. 

It’s whether it moves with the data or against it.