Good morning, you're tuned in to Markets Desk.
Procter and Gamble out with quarterly results this morning, and it's a split verdict. Earnings per share came in above Wall Street's expectations, but revenue missed the mark, with volume holding flat. That combination signals pricing power is fading and consumers aren't buying more, which is a warning sign for the broader consumer staples sector.
Shifting to tech, MFS Investment Management's chief global strategist Robert Almeida is sounding an alarm that few want to hear. He argues a profit squeeze is coming for technology names as the capital cycle turns, and says investors are too fixated on the Federal Reserve. His bet is on unglamorous, under-followed stocks that can hold margins when the tide goes out.
And on the political economy front, two rival artificial intelligence super PACs are reportedly backing the same congressman, mirroring a playbook the crypto industry ran in recent election cycles. The AI sector is clearly moving from lobbying corridors into direct electoral influence, and that has real implications for how regulation in this space gets shaped in Washington over the coming years.
That's the tape. Markets Desk, signing off the floor.
