The Morning Market Briefing

Andrew, Ben, and Tom break down why bonds rallied on hot inflation data as AI stocks fell, Warsh declining to precommit on rates, and Apple partnering with Meta to run Muse on Mac Studio. Join our live YouTube stream Monday through Friday at 8:30 AM EST: http://www.youtube.com/@TheMorningMarketBriefing Please see disclosures: https://www.narwhal.com/disclosures

Ben and Tom break down Larry Fink's capital-shortage warning, Anthropic's Q3 revenue, and the selloff in CoreWeave and Oracle, plus hot PPI and retail sales data and TSMC's strong outlook. Join our live YouTube stream Monday through Friday at 8:30 AM EST: http://www.youtube.com/@TheMorningMarketBriefing Please see disclosures: https://www.narwhal.com/disclosures

Andrew, Ben, and Tom break down the hotter core CPI print and how AI is soaking up capital while housing freezes, plus the FBI's arrest of an OpenAI engineer accused of bugging a conference room and earnings from ASML, BlackRock, and Bank of America. Join our live YouTube stream Monday through Friday at 8:30 AM EST: http://www.youtube.com/@TheMorningMarketBriefing Please see disclosures: https://w...

Andrew, Ben, and Tom break down Meta's Muse Wonder launch and why it changes the AI race, plus Kroger cutting 37% of its corporate jobs, Albertsons' $8B lawsuit, and big bank earnings. Join our live YouTube stream Monday through Friday at 8:30 AM EST: http://www.youtube.com/@TheMorningMarketBriefing Please see disclosures: https://www.narwhal.com/disclosures

Andrew, Ben, and Tom break down why refinery capacity is driving record diesel prices and the IMF warning that AI is a "slow-moving tsunami" for office jobs, plus the Houthi attack on Riyadh's airport and Bessent's latest letter to Senator Warren. Join our live YouTube stream Monday through Friday at 8:30 AM EST: http://www.youtube.com/@TheMorningMarketBriefing Please see disclosures: https://www....

Andrew, Ben, and Tom break down the FT's report on OpenAI's revenue and why gross vs. net accounting matters, plus SpaceX's $8B spectrum deal hitting telecom stocks and the 30-year bond's sharp outside reversal. Join our live YouTube stream Monday through Friday at 8:30 AM EST: http://www.youtube.com/@TheMorningMarketBriefing Please see disclosures: https://www.narwhal.com/disclosures

Andrew, Ben, and Tom break down why rate hikes aren't slowing AI spending while the rest of construction shrinks, plus Iran stepping up tanker attacks, a strong 10-year auction, and Wolfspeed's conditional Department of War loan. Join our live YouTube stream Monday through Friday at 8:30 AM EST: http://www.youtube.com/@TheMorningMarketBriefing Please see disclosures: https://www.narwhal.com/disclo...

Andrew, Ben, and Tom break down heavy short bets against Treasuries, the 3-year auction, and lessons from the 2013 taper tantrum, plus Paramount closing its $110B Warner Bros. Discovery deal as Skydance. Join our live YouTube stream Monday through Friday at 8:30 AM EST: http://www.youtube.com/@TheMorningMarketBriefing Please see disclosures: https://www.narwhal.com/disclosures

Andrew, Tom, and Thomas break down ISM Services prices hitting their highest since 2022, Google's 20-year nuclear deal with Constellation, and Trump letting red diesel onto public highways. Join our live YouTube stream Monday through Friday at 8:30 AM EST: http://www.youtube.com/@TheMorningMarketBriefing Please see disclosures: https://www.narwhal.com/disclosures

Andrew, Tom, and Thomas cover the FBI's arrest of an alleged China spy realtor at LAX, Flávio Bolsonaro beating the polls in Brazil's election, and tanker attacks picking back up in the Strait of Hormuz. Join our live YouTube stream Monday through Friday at 8:30 AM EST: http://www.youtube.com/@TheMorningMarketBriefing Please see disclosures: https://www.narwhal.com/disclosures

Andrew, Tom, and Thomas break down September's 29K payrolls miss, August's downward revision, and the bond rally that followed, plus ISM prices paid jumping to 77.9 and Nike sinking to its lowest level since 2013. Join our live YouTube stream Monday through Friday at 8:30 AM EST: http://www.youtube.com/@TheMorningMarketBriefing Please see disclosures: https://www.narwhal.com/disclosures

Andrew, Tom, and Thomas explain why the 10-year hit its highest yield since 2002 and why the debt narrative doesn't add up, plus Trump calling for Powell to resign over the $2.5B Fed renovation and Google's new Gemini 4 Argon model. Join our live YouTube stream Monday through Friday at 8:30 AM EST: http://www.youtube.com/@TheMorningMarketBriefing Please see disclosures: https://www.narwhal.com/dis...

Andrew, Tom, and Thomas break down the cooler-than-expected PCE report and big downward revisions to last month's inflation data, plus OpenAI's Dots agent stumbling in its live demo and Trump's White House AI lunch with the tech titans. Join our live YouTube stream Monday through Friday at 8:30 AM EST: http://www.youtube.com/@TheMorningMarketBriefing Please see disclosures: https://www.narwhal.com...

Ben and Tom break down the Dallas Fed survey's surge in new orders and production, then Oura postponing its IPO despite strong demand and what that could mean for Anthropic's November timing. Join our live YouTube stream Monday through Friday at 8:30 AM EST: http://www.youtube.com/@TheMorningMarketBriefing Please see disclosures: https://www.narwhal.com/disclosures

Andrew, Ben, and Tom cover Trump rejecting Iran's offer, prospects of the Anthropic IPO, and privacy concerns surrounding Meta Muse.  Join our live YouTube stream Monday through Friday at 8:30 AM EST: http://www.youtube.com/@TheMorningMarketBriefing Please see disclosures: https://www.narwhal.com/disclosures

Ben and Tom cover Xi gifting two pandas to Zoo Atlanta and Brightline's bankruptcy hitting the muni bond market, plus US-Iran talks on reopening Hormuz and Bob Chapek's new book taking aim at Bob Iger. Join our live YouTube stream Monday through Friday at 8:30 AM EST: http://www.youtube.com/@TheMorningMarketBriefing Please see disclosures: https://www.narwhal.com/disclosures

Tom and Thomas break down the bond market selloff that pushed the 30-year to its highest level since 2004, plus Meta Connect's hearing-aid glasses, possible diesel export curbs, and McDonald's shift from beef to chicken. Join our live YouTube stream Monday through Friday at 8:30 AM EST: http://www.youtube.com/@TheMorningMarketBriefing Please see disclosures: https://www.narwhal.com/disclosures

Ben and Tom break down Meta Muse as a potential ChatGPT moment for AI agents and why the friction economy — bank fees, idle cash, unused credits, insurance overpayments — is suddenly under threat. Join our live YouTube stream Monday through Friday at 8:30 AM EST: http://www.youtube.com/@TheMorningMarketBriefing Please see disclosures: https://www.narwhal.com/disclosures

Ben and Tom break down the new sports performance ETFs launching in the NHL and MLB and why sportsbooks stand to benefit most, plus Medicare's PAMA cuts hitting Quest and LabCorp, Trump's packed UN meeting schedule, and Iran's offer to reopen the Strait of Hormuz. Join our live YouTube stream Monday through Friday at 8:30 AM EST: http://www.youtube.com/@TheMorningMarketBriefing Please see disclosu...

Ben and Tom preview UN General Assembly week including the Greenland security pact signing, Trump's Iran decision, and pre-summit optimism on the Trump-Xi talks, plus Germany's political collapse and Amazon blocking Meta's Muse AI shopping agent. Join our live YouTube stream Monday through Friday at 8:30 AM EST: http://www.youtube.com/@TheMorningMarketBriefing Please see disclosures: https://www.n...

Andrew, Ben, and Tom cover signs the Strait of Hormuz is opening back up as LNG tankers get through, plus the Bank of Japan's 1.25% rate hike, Nvidia's guide-up on chip demand, and Warren Buffett handing over the Berkshire chairmanship. Join our live YouTube stream Monday through Friday at 8:30 AM EST: http://www.youtube.com/@TheMorningMarketBriefing Please see disclosures: https://www.narwhal.com...

Ben and Tom break down Kevin Warsh's hawkish 25bps hike in a unanimous 12-0 vote, Lennar's Q3 miss and housing warning, plus commentary from JB Hunt, Goldman Sachs, and Boeing. Join our live YouTube stream Monday through Friday at 8:30 AM EST: http://www.youtube.com/@TheMorningMarketBriefing Please see disclosures: https://www.narwhal.com/disclosures

Andrew, Ben, and Tom cover Mark Zuckerberg's pushback against Anthropic on AI self-policing, today's Fed decision preview, OpenAI's potential $1.2T funding round, and Saudi Arabia's post-pipeline oil workarounds. Join our live YouTube stream Monday through Friday at 8:30 AM EST: http://www.youtube.com/@TheMorningMarketBriefing Please see disclosures: https://www.narwhal.com/disclosures

Andrew, Ben, and Tom cover Jensen Huang's All-in Podcast appearance blasting the AI doomers, Trump's surprise call-in defending AI, Obama's push for AI policy debate, plus Corning's $2B stock sale and Bank of America's guidance cut. Join our live YouTube stream Monday through Friday at 8:30 AM EST: http://www.youtube.com/@TheMorningMarketBriefing Please see disclosures: https://www.narwhal.com/dis...

Ben and Tom break down Anthropic CEO Dario Amodei's call to slow the pace of AI development, the endorsements from Elon Musk, Sam Altman, and Mark Zuckerberg, and the resulting selloff across AI chip, cloud, and infrastructure stocks. Join our live YouTube stream Monday through Friday at 8:30 AM EST: http://www.youtube.com/@TheMorningMarketBriefing Please see disclosures: https://www.narwhal.com/d...