Welcome to Markets Desk, your midday read on what's moving markets and why.
Treasuries are rallying even as Brent crude trades near one hundred twelve dollars a barrel, more than fifty percent above pre-war levels — and that's the surprise. Normally an oil spike drives yields higher, but investors are fleeing to safety as equities slide, pulling mortgage rates back from a seven-week climb. That relief for home buyers is real, even if it's fragile.
Turning to equities, Micron fell six percent on the session, yet D.A. Davidson is holding firm with a buy rating and a price target of three thousand dollars per share. The firm walked away from Micron's technology webinar convinced that its memory leadership creates a durable competitive moat. That's a bold call against a sharp down day, and the market clearly isn't there yet.
And in the AI infrastructure space, the build-out is showing cracks. Neocloud operators are facing rising credit default swap spreads, Solidigm has pulled its IPO, and stocks across the sector are under pressure. All of this sets a tense backdrop heading into hyperscaler earnings, where investors will be watching capital expenditure guidance very closely.
That's the tape. Markets Desk, signing off the floor.
