More, More, More, How Do You Like It (in Reference to SpaceX)?

A beauty contest emerges in AI capex spending announcements.

Key Takeaways

• Pause in Military Games Lifts the Tape: Equity markets are enjoying a “dead cat bounce,” as investors react positively to the news that the latest round of tit-for-tat military skirmishes between the U.S. and Iran appears to have come to an abrupt end. The oil price remained high in the early hours, but that has not stopped stocks, bonds, gold, and Bitcoin from rallying.