Good afternoon, this is Markets Desk with your midday market brief.
Advanced Micro Devices posted revenue growth of fifty percent year over year, with its data center division more than doubling — up one hundred and seven percent. And yet the stock is trading lower. That's the market telling you expectations were priced in ahead of the print, and beating the number isn't always enough when the bar was already set in the stratosphere.
Pulling back to the broader tape, the S-and-P five hundred climbed to fresh all-time highs on Tuesday, with the Dow logging its best single session in nearly two months. The rally was broad-based, driven by a combination of easing rate fears, solid earnings momentum, and renewed risk appetite across sectors. Sentiment, at least for now, is firmly in the bulls' corner.
But not everyone is buying it. Michael Burry published a Substack post warning that markets may be approaching a major top, drawing a comparison to the crash of nineteen eighty-seven. Burry has made high-profile calls before, some legendary, some early. Whether this is prescient or premature, the nineteen eighty-seven analogy carries weight — that was a single-day drop of nearly twenty-three percent.
That's the tape. Markets Desk, signing off the floor.
