Another batshit insane capex forecast. 

..."another violent session" in US equities as 'equity crash risk' re-appears, started in China with metals liquidation...

JOLTS sink beneath expectations, claims jump above forecasts while challenger layoffs accelerate in January; Trump says Iran is negotiating; US and Russia agree to re-establish military-to-military talks; BoE holds rates as expected but with a more dovish vote split; ECB holds rates as expected; GOOGL beats on earnings, CapEx 2026 outlook raises concerns; Anthropic launches Claude Opus 4.6 AI model that it calls 'industry-leading' in finance; QCOM guidance underwhelms; HIMS to sell a copy of NVO's Wegovy pill at $49/month, NVO to take legal action; RIO and Glencore reportedly decide against merger.

"perhaps the best thing Amazon could do would be to announce that it plans only moderate capital expenditure in 2026."

A real property-rights vulnerability embedded in the architecture of modern finance.

...the Fed Put is somewhat deeper out of the money but remains present in the event of a real crisis...

"Crowded positioning coincided with an air pocket in demand, leaving consensus longs without a marginal buyer. A snapback is possible, but MS quants would sell any bounce in Momentum..."

...matters because farmer confidence is cracking.

Just more bad news for Goldman's long-time Novo bull James Quigley... 

The US jobs market just fell off a cliff, again. 

...despite the scale of market moves, as ‘Bill Gates stated: “The majority of AI companies will fail”-- few writing about it understand the sector...

In sharp contrast to what’s going on in software, the cyclical parts of the market trade very well...

ECB says the economy “remains resilient in a challenging global environment”

BoE says “there should be scope for some further reduction in bank rate this year.”

"Three quarters of software stocks are in oversold territory, and the momentum trade that has been the way to play tech and software last year is under severe pressure" 

"We have a very tough market." 

"Today’s session represents a clear escalation of the rotation and dispersion themes that surfaced yesterday - less about Software and more about a broader “re-risking to reversal” moment, where crowded Momentum exposure is being challenged aggressively" - Morgan Stanley

Recruiters say companies are now far more selective in their hiring.