evening wrap, February 5
market vibes
“There is no put.” Scott Bessent March 7, 2025
During NY trading today, reports of surging January layoffs (the highest since 2009) including Challerger Cuts and plunging JOLTS added to increasing fear about AI and jobs. Alphabet’s guidance for sharply higher 2026 capital expenditures (up to $185 billion and rising) raised doubts about data-center debt ratings and quick returns for the AI sector. Amazon fell 10% on an earnings miss. Michael Burry has a price target of 0.0 in bitcoin. Musk predicted double-digit GDP growth in 12–18 months using AI, robotics, and autonomous vehicles.
Take a minute and study this chart. Who will pay for AI if millions of peope lose their jobs (…and owe 2 trillion in student debts)?
in the metals
There is a notable increase in bearish silver posts on X, Most them showing years of low prices following strong rallies. I think this stuff is paid FUD and the term to new ATH is exponentially shorter.
Silver opened weak in Asia rallied $7.00. If it comes in higher in NY tomorrow in NY, that is positive development. Hodl and wait.
Gold opened weaker in Asia as well and rallied $90 dollars.
