Good morning and welcome to Markets Desk, your midday read on what's moving and why.
The AI trade took a serious hit last week, and the damage was broad. Oracle, AMD, Super Micro Computer, and Palantir all fell hard alongside CoreWeave as fresh inflation data and renewed concerns about debt-financing costs rattled the sector. Investors are reassessing valuations across the entire AI infrastructure stack.
Shifting to autos, Volvo Cars is having a brutal session, with shares down thirty-one percent after the Swedish automaker flagged deteriorating conditions in both China and the United States. Management cited tougher market dynamics squeezing free cash flow, and fresh job cuts are now on the table. It is a stark reminder that the global auto recovery remains deeply uneven.
And on the private markets side, JPMorgan has more than doubled its price target on SpaceX, a move that says as much about analyst conviction as it does about the underlying business. SpaceX shares have already produced wildly divergent outcomes depending on when investors got in, and this latest revision will likely pull that crowd in yet another direction.
That's the tape. Markets Desk, signing off the floor.
