Thrilled that WSJ's first Netflix documentary, EAT THE RICH, has been nominated for an Emmy award in the business and documentary category Such a fun project to work on with the @WSJ team @charlesforelle @JAVerlaine @EmmaMoodyWSJ @BennyBip , Dan Rosen🚀🚀🚀

Stocks are basically flat over the past week, after the bi AI trade scare

CoreWeave puts

"Even as the recent AI selloff paused for stocks, it accelerated for credit. Monday was a classic risk-on day with stocks higher.....Yet liquid IG bonds closed +2bps wider, hyperscalers +4bps wider, and 10yr ORCL +13bps wider on the day" --BofA

We ran the numbers and found why certain stock pickers are having a terrible year. Active managers in Morningstar's large-blend category started the year **underweight** AI stocks compared with the S&P 500 by more than 8 percentage points, with a 28.4% holding compared with the index’s 36.5% Being an AI skeptic has burned many of them @GZuckerman @WSJmarkets wsj.com/finance/stocks/stock…

GMO: "For the first time in twenty years, with the brief exception of the GFC, we are seeing net dilution in the U.S. stock market (i.e., share issuance exceeding share buybacks) as the hyperscalers continue their capital expenditure spree"

TLT up almost 2%, biggest one-day increase since **Nov 2024**

Household debt as a share of GDP is hovering around some of the lowest levels of the past three decades--GS

"In September, 1.5 million Americans were trying to sell their homes, based on the number of active listings. Only 929,000 people were buying, according to Redfin estimates. The surplus of sellers, nearly 600,000, is the largest in Redfin’s records going back to 2013" @WSJheard

The Dow is up

September's CPI report marks the 66th consecutive month that inflation has hovered above 2% "Over the last 100 years, this current streak is just the third time that consumer inflation has been above the Fed target for five years or longer," --@bespokeinvest

Morgan Stanley: "We'd argue that weak breadth in economically-sensitive areas of the equity market signals that tighter financial conditions across rates, dollar and oil are doing some of the Fed's work for them."

It's the worst year for private-equity fundraising since at least 2020 Firms have raised $222 billion this year through Sept. 30, compared with $330 billion for all of last year --Pitchbook @WSJmarkets wsj.com/finance/investing/hi…

Bespoke: It has been 552 days since the S&P's last 10%+ correction, the 6th longest streak since 1990