Good morning, you're listening to Markets Desk.
Michael Burry is making headlines again, this time with a short position against Caterpillar, the heavy machinery giant that has surged one hundred seventy two percent on the back of AI infrastructure spending. Burry, who called the two thousand eight subprime collapse, believes the stock is overvalued, though at least one analyst argues his position is too small to move the needle meaningfully.
Staying in equities, Adobe is catching a bid today after HSBC issued a contrarian upgrade, bucking the skeptical consensus that has weighed on the stock. Analysts at the firm argue the market has been too harsh on Adobe's AI transition, and early buyers appear to be rewarding that call with the stock moving higher on the session.
And in commodities, crude oil weakness is rippling through the soft commodities complex, pulling New York world sugar futures lower by nearly one percent on Thursday. London white sugar held firmer, actually printing a nearly ten month high on a nearest futures basis, suggesting the two benchmarks are reading slightly different supply and demand signals right now.
That's the tape. Markets Desk, signing off the floor.
