Yields hit nineteen-year highs ahead of the Fed, but custom chip deals are keeping our Amazon thesis warm

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Morning brief: AI founders asked to pump the brakes and our chip holdings took a hit, but software is treating the panic like a discount aisle

AI Slowdown Call Ignites Big Sector Rotation: Calls by AI leaders to slow frontier model development sparked a violent shift from chipmakers into software ahead of the Fed meeting. Cybersecurity Stocks Surge on AI Shift: Zscaler spiked 16.52% and CrowdStrike jumped 13.85% as easing AI disruption fears and sector rotation fueled a massive cybersecurity buying spree. Chip and AI Hardware Stocks Plunge: Coherent dropped 12.73% and Arm fell 9.74% as investors dumped AI supply chain names on fears of slowing hardware spending. Crypto Platforms Rally on Policy Hopes: Coinbase jumped 9.24% and Circle rose 7.53% as crypto assets decoupled from tech weakness ahead of key Senate market structure votes. Watch CPI Data and Fed Decision Next: Focus shifts to incoming CPI inflation data and tomorrow's Fed decision to see if fear sentiment stabilizes or pushes yields higher.

AI Slowdown Call Ignites Big Sector Rotation

Calls by AI leaders to slow frontier model development sparked a violent shift from chipmakers into software ahead of the Fed meeting.

Cybersecurity Stocks Surge on AI Shift

Zscaler spiked 16.52% and CrowdStrike jumped 13.85% as easing AI disruption fears and sector rotation fueled a massive cybersecurity buying spree.

Chip and AI Hardware Stocks Plunge

Coherent dropped 12.73% and Arm fell 9.74% as investors dumped AI supply chain names on fears of slowing hardware spending.

Crypto Platforms Rally on Policy Hopes

Coinbase jumped 9.24% and Circle rose 7.53% as crypto assets decoupled from tech weakness ahead of key Senate market structure votes.

Watch CPI Data and Fed Decision Next

Focus shifts to incoming CPI inflation data and tomorrow's Fed decision to see if fear sentiment stabilizes or pushes yields higher.

Posture: With Fear at 31 and yields near 5% ahead of the Fed decision, we adopt a Defensive posture, rotating from hardware into threat protection and cash.

Tickers in focus: NVDA, SMH

Upcoming earnings

  • MU — 2026-09-30, After Market Close
  • PEP — 2026-10-08, Before Market Open
  • C — 2026-10-13, TBD
  • GS — 2026-10-13, Before Market Open
  • JNJ — 2026-10-13, TBD
  • JPM — 2026-10-13, TBD

Evening brief: Yields hit nineteen-year highs ahead of the Fed, but custom chip deals are keeping our Amazon thesis warm

Yields Hit 19-Year Highs Ahead of Fed: Benchmark yields spiked past 5% as the Fed met, pushing stocks lower while Fear & Greed dropped to 29. Crypto Equities Tumble on Senate Delay: COIN fell 10.10% and CRCL dropped 11.41% as Bitcoin pulled back and Senate CLARITY Act votes hit procedural friction. QCOM Jumps 4.25% on AWS AI Deal: Qualcomm gained 4.25% as Wall Street cheered its multi-billion-dollar AWS partnership to supply custom AI data-center chips. TMO Gains 4.61% After Raising Outlook: Thermo Fisher jumped 4.61% after raising full-year growth guidance and reporting improving biopharma demand at a major healthcare conference. Fed Decision and Senate Crypto Vote Ahead: Watch tomorrow's Fed rate announcement and updated dot plot, alongside the Senate's final vote on digital asset regulatory legislation.

Yields Hit 19-Year Highs Ahead of Fed

Benchmark yields spiked past 5% as the Fed met, pushing stocks lower while Fear & Greed dropped to 29.

Crypto Equities Tumble on Senate Delay

COIN fell 10.10% and CRCL dropped 11.41% as Bitcoin pulled back and Senate CLARITY Act votes hit procedural friction.

QCOM Jumps 4.25% on AWS AI Deal

Qualcomm gained 4.25% as Wall Street cheered its multi-billion-dollar AWS partnership to supply custom AI data-center chips.

TMO Gains 4.61% After Raising Outlook

Thermo Fisher jumped 4.61% after raising full-year growth guidance and reporting improving biopharma demand at a major healthcare conference.

Fed Decision and Senate Crypto Vote Ahead

Watch tomorrow's Fed rate announcement and updated dot plot, alongside the Senate's final vote on digital asset regulatory legislation.

Posture: Defensive posture: With CNN Fear at 29 and benchmark yields past 5%, we maintain a defensive stance focused on high-quality cash flow.

Tickers in focus: AMZN, SPY, QCOM

Upcoming earnings

  • MU — 2026-09-30, After Market Close
  • PEP — 2026-10-08, Before Market Open
  • UNH — 2026-10-13, Before Market Open
  • C — 2026-10-13, TBD
  • GS — 2026-10-13, Before Market Open
  • JNJ — 2026-10-13, TBD

The day's moves on the ledger

No slate changes were logged this day.

← Monday, September 14, 2026 · Wednesday, September 16, 2026 → · Archive