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NASDAQ crashes 3.60% on Massive Big Tech earnings misses. The AI overhype is in full effect, running costs will blow out consumer demand. The Fed is partially to blame for allowing speculation to run rampant, by claiming inflation has been tamed. It has not. Energy inflation is still high, thus costs are still being passed onto the consumer.

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U.S. inflation via the CPI falls to 3% vs expected 3.1%. U.S. Dollar dropped, oil rises over 83pb, and the NASDAQ crashes over 2% on a messy profit take. Markets have priced in an over 84% chance the Fed will cut rates in September 2024. Yet, energy consumption and food remain elevated. CAn they see into the future?

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