Welcome to Markets Desk, here's what's moving markets this afternoon.
CoreWeave surged in today's session, giving fresh momentum to the broader AI trade. Investors are reading the move as a vote of confidence in high-performance cloud infrastructure demand, with GPU-intensive workloads continuing to attract capital even as valuations in the space remain stretched.
Shifting to fixed income, the long-standing relationship between falling oil prices and lower Treasury yields has quietly broken down, and that is a significant signal. Analysts say the decoupling suggests inflation expectations are now driven by forces well beyond energy, meaning the Fed has less room to pivot even as crude softens.
And in the memory space, Evercore is making a bold call on Sandisk, arguing that structural shifts in the memory industry could push shares more than double from current levels. The analyst points to supply discipline and recovering enterprise demand as the key drivers, suggesting this is more than a simple bounce off cycle lows.
That's the tape. Markets Desk, signing off the floor.
