Stocks and bonds rally while crude slumps after Democratic Sweep - Newsquawk US Market Wrap

REAR VIEW: Democratic sweep in US midterms; Neocloud names pressured while hyperscalers gain post-midterms; FT reports Trump said US has no immediate plan to strike Iran; US Treasury tweaks issuance guidance; Mixed ISM Services; headline misses, but employment rise & prices fall; Trump pushes back on reports Hegseth could be replaced; DDOG plunge post-earnings; INTC CEO bought stock; AMD & SMCI pare post-earnings gains.

The AI Trade Is Breaking Apart

28x to 16x. That's what has happened to semiconductor valuations in just TWO months. One of the widest discounts to the S&P 500 in 15 years.
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