DHUnplugged #689: AI Market Euphoria

Big Week – AND HOW! Big Caps BIG – Small Caps Small AAPL declined 3.4% on the week while AMZN jumped 8.0% and META gained 20.5%. Shakeup at Morgan Stanley Banking Sector Fears (NYCB) The latest Closest to The Pin. PLUS we are now on Spotify and Amazon Music/Podcasts! Click HERE for Show Notes and Links DHUnplugged is now streaming live - with listener chat. Click on link on the right sidebar. Love the Show? Then how about a Donation? <br /> Follow John C. Dvorak on Twitter Follow Andrew Horowitz on Twitter Warm Up<br /> -  Big Week - AND HOW!<br /> - Big Caps BIG - Small Caps Small (Regional Bank woes)<br /> --- AAPL declined 3.4% on the week while AMZN jumped 8.0% and META gained 20.5%.<br /> - Shakeup at Morgan Stanley<br /> - Banking Sector Fears (NYCB)<br /> - AI induced euphoria - is that a thing? Market intoxicated on it.<br /> Market Update<br /> - Powell was Hawkish - Markets Didn't Care (past Wednesday)<br /> - HUGE Employment Surprise - Market Didn't Care (after 10 minutes)<br /> - META/Facebook Earning - Yes Markets cared - all day Friday<br /> - Undercurrent of something happening (Region  Bank breakdown - NYCB)<br /> - China comes out strong with market supportive measures  - market rallies 5%<br /> Employment Report<br /> - Much hotter than anticipated<br /> - Treasury Yields and the USD spiked<br /> - Unemployment rate at 3.7% (expected to tick up to 3.8%<br /> - Briefing.com: This report is not likely to persuade the FOMC to cut rates as soon, or as much, as the market had hoped. As a result, the fed funds futures market repriced the probability of a 25-basis points rate cut at the March FOMC meeting to 20.5% (from 38.0% yesterday and 47.6% one week ago) while the probability of a 25-basis points rate cut at the May FOMC meeting has been reduced to 74% (from 93.8% yesterday), according to the CME FedWatch Tool.<br /> - markets were a bit flushed on the initial report but tossed it aside and preferred to focus on META