Tech Wrecked, Crypto Dumped, Crude Pumped, & Bonds Bid On Bad Data

“Freedom is never free.”

Thank you to all who have served and continue to serve our country.

US equities were mixed on a relatively quiet day (equity volumes down around 20-25% from recent averages with the bond market closed for Veterans Day), as investors refocus scrutiny on the AI theme, and the ADP weekly job report shines a lens on labor market concerns.