Bitcoin dropping after Strategy sold is a reminder that sentiment can change quickly, even in strong long-term trends. For me, the bigger story is oil. If disruptions around the Strait of Hormuz persist and Brent moves toward $100, inflation could reaccelerate and make central banks more cautious. That would have implications for stocks, crypto, and bonds all at once.
CPI and PPI Both Cool — How Much Further Can U.S. Stocks Run?
S&P 500 +0.65% to a record 7,798.99, through 7,800 intraday; Nasdaq +0.81%, QQQ +1.16%, Dow +0.13%. Soft inflation did it: July CPI 3.4% YoY and 0.1% MoM, PPI at 4.2% against 4.9% expected and 5.5% prior, pushing the odds of an extended Fed pause higher. Burry disclosed a bigger QQQ put position, positioning for "a larger leg down," while desks warned against chasing into the next earnings cycle. Add to tech, rotate into gold and defensives, or wait for earnings?
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