AI FEARS OVERDONE IN SOFTWARE
JPMORGAN: AI FEARS OVERDONE IN SOFTWARE JPMorgan says the selloff in software stocks is overblown, driven by unrealistic fears of near-term AI disruption. Strategists recommend rotating back into high-quality, AI-resilient names. They cite strong fundamentals, high switching costs, and positive earnings trends, naming Microsoft and CrowdStrike as beneficiaries. With 2026 earnings growth forecast near 17%, the team sees a rebound opportunity. Source: *Walter Bloomberg @DeItaone
Another day, another fresh high in skew.
The year-to-date rise is becoming meaningful, with the crowd long and paying up for downside protection. Rising markets alongside rising skew are a combo worth watching closely, and looks pretty similar to last year’s setup... Source; TME
Emerging Market Stocks now outperforming U.S. Equities by the largest margin since 2023
Source: Barchart @Barchart
THE MASTER EARNINGS SEASON CALENDAR
Here are the most popular stocks that report earnings this week February 9th - February 13th. Source: Earnings Hub
Massive inflows into Korean stocks have some cross-border ripple effects...
The Korean momentum kamikazes dumped bitcoin, dumped gold, dumped silver, dumped anything that did not have upward momentum and piled into Korean memory stocks at a record pace. Source: BofA, zerohedge
Goldman Sachs $GS warns that US stocks could face more selling this week, driven by trend-following funds known as CTAs, which have already hit sell triggers in the S&P 500.
The bank estimates CTAs could dump up to $33 billion this week — and as much as $80 billion over the next month if the S&P 500 keeps falling. Source: Jesse Cohen
The Most Important Investing Theme of 2026 is HALO
HALO stands for Heavy Assets, Low Obsolescence. These are undistruptible companies from an AI standpoint. There’s nothing Sundar Pichai and Sam Altman can take from them Source: Ritholtz
U.S. Mineral Import Reliance Hits New Highs
The latest USGS mineral commodities report shows the U.S. is becoming increasingly dependent on foreign sources for critical raw materials, raising risks for both national security and industry. Import reliance rose across nearly all non-fuel minerals, with the U.S. now 100% dependent on imports for 16 minerals and more than 50% reliant on imports for 54 of the 90 tracked commodities, both up from last year. This trend underscores the growing urgency to strengthen domestic supply chains as geopolitical and trade risks make foreign dependence more vulnerable. Tracy Shuchart (𝒞𝒽𝒾 ) @chigrl
