【Election Day: Oil Prices Suffer an Epic Collapse, Nasdaq Officially Enters Correction Territory】
On midterm election day, markets priced in “peace” early. Iran said the Supreme Leader had authorized negotiations, and Trump immediately took credit—WTI plunged 7.36% on the day to close at 96.46, while Brent fell 7.63%, its worst down day since July. But Iran also added a hardline caveat: no talks unless all seven conditions are met. The war premium that just evaporated could come right back at any time.
Meanwhile, the Nasdaq 100 has retreated 10% from its October high, officially entering correction territory, while the semiconductor index is down 12% in three days. Kioxia’s remark that “the NAND price-hike cycle has peaked” sent SanDisk tumbling 6.5%.
Apple’s new CEO faced his first quarterly test: EPS of 2.10 and revenue of $114.48 billion both beat expectations. But a closer look shows that higher iPhone and Mac prices offset rising memory costs—the AI tax is being passed straight on to consumers. Greater China missed expectations, and Services growth fell below 10% for the first time in three years. A mixed showing.
On the crypto front, Strategy kept buying, picking up 810 $BTC for about $63 million. Pyth is exclusively providing data and settlement for Kalshi’s KPOW midterm election index—elections are going on-chain too.
My take: An oil-price collapse doesn’t mean risk assets are off the hook; AI valuations are the main story. Today’s vote count and Friday’s nonfarm payrolls are the real market catalysts.
NFA DYOR
#比特币 #中期选举 #原油 #AI #USStocks
On midterm election day, markets priced in “peace” early. Iran said the Supreme Leader had authorized negotiations, and Trump immediately took credit—WTI plunged 7.36% on the day to close at 96.46, while Brent fell 7.63%, its worst down day since July. But Iran also added a hardline caveat: no talks unless all seven conditions are met. The war premium that just evaporated could come right back at any time.
Meanwhile, the Nasdaq 100 has retreated 10% from its October high, officially entering correction territory, while the semiconductor index is down 12% in three days. Kioxia’s remark that “the NAND price-hike cycle has peaked” sent SanDisk tumbling 6.5%.
Apple’s new CEO faced his first quarterly test: EPS of 2.10 and revenue of $114.48 billion both beat expectations. But a closer look shows that higher iPhone and Mac prices offset rising memory costs—the AI tax is being passed straight on to consumers. Greater China missed expectations, and Services growth fell below 10% for the first time in three years. A mixed showing.
On the crypto front, Strategy kept buying, picking up 810 $BTC for about $63 million. Pyth is exclusively providing data and settlement for Kalshi’s KPOW midterm election index—elections are going on-chain too.
My take: An oil-price collapse doesn’t mean risk assets are off the hook; AI valuations are the main story. Today’s vote count and Friday’s nonfarm payrolls are the real market catalysts.
NFA DYOR
#比特币 #中期选举 #原油 #AI #USStocks