With Bond Vigilantes Away, Retail Will Play: NeoCloud Surge Erases Nasdaq's Post-Election Losses

Tl;dr: No macro data, no FedSpeak, and no bond market to maintain market discipline... Relatively low (Veterans Day) liquidity and a NeoCloud that didn't shit the bed was the perfect recipe for a vol-crushing, short-squeezing rip higher in stocks (led by tech/AI). Hyperscalers lagged (source of funds), Semis ripped, Mag7 underperformed. Yesterday's hawkish shift across assets continued with the dollar surging to May 2025 highs, rate-hike odds jumping, and TSY futs implying 10Y back above 5.00%. Bitcoin was bid with tech stocks and gold dumped back below $4000 with oil prices marginally higher.

US equity futures were higher overnight on the back of a trifecta of AI catalysts: