We are going to start doing a live podcast with Jeremy Vreeland at Bullish/Bears every Thursday at 11:30AM EST. We will be talking markets and stocks. Feel free to shoot over questions or names you want us to cover. Will have details on how to access the stream next week.

ESG

Carbon Credits Found to Be Mostly ‘Ineffective’ in Key Study-Bloomberg

The Science Based Targets initiative, the de facto global regulator of private-sector CO2 targets, said its review of third-party studies indicates that “various types of carbon credits are ineffective in delivering their intended mitigation outcomes.” What’s more, corporate use of carbon credits could stall decarbonization efforts and reduce the flow of climate finance, SBTi said in a report published on Tuesday.
A Secret Service whistleblower is predicting another assassination attempt within 30 days.

DEI

Mizzou Dissolves DEI Office-Inside Higher Ed

Facing pressure from conservative lawmakers, Missouri’s flagship university is disbanding its inclusion, diversity and equity division, undoing a keystone achievement of the 2015 campus protests over racial equity.

Here's Why I Think DEI Is Dead-Inc

The goals of these programs are great, but the execution has been horrible. Entrepreneurs need to tap all kinds of talent for their startups--but this isn't the way to do it.

Woke

Woke Policies Scrapped at Olympic Village After Major Outcry-Savvy Dime

In a significant pivot from their initial menu choices, Olympic Games organizers have introduced over 700kg of eggs and a ton of extra meat to the athletes' village.   

This switch from vegan-like options to more traditional fare is a direct nod to the athletes' vocal requests for familiar comfort foods during the competition.    

Market

Real interesting after hours session last night. MSFT disappointed but mentioned AI enough not to get completely crushed. AMD didn’t and is up almost 9% pre market. Nothing was more oversold than the semi’s, which are now all up big premarket. With hindsight, fairly obvious double top short sale mid month.

Time will tell whether this reversal after hours was the bottom or just setting up for another leg down.

This news doesn’t hurt. ASML and Tokyo Electron shares surge on reported exemption from U.S. rules-MarketWatch

ASML is a name I hold in my long term portfolio as you can’t really do AI without it. Support at the 200 day.

MSFT earnings were interesting as they reported blowout spending on AI. Microsoft’s AI Dreams Make for an Expensive Reality As cloud growth disappoints, blowout capital spending won’t hearten investors-WSJ

But investors who were once willing to write blank checks to big tech companies that invest in AI have grown more wary of late. Microsoft, Amazon.com, Google parent Alphabet GOOGL 0.45%increase; green up pointing triangle and Facebook META -0.54%decrease; red down pointing triangle parent Meta Platforms have seen their stocks slide an average of 11% from their record highs reached in early July. That compares with a gain of nearly 4% over the past month for the S&P 500 Equal Weighted Index. The four tech giants are dumping record amounts of capex into AI, which hasn’t yet grown into a significant enough revenue source to merit disclosure by any of them. 

Chief Executive Officer Satya Nadella said on Tuesday’s call that Microsoft has the “demand signal” to justify those investments and can always scale back plans to fill up data-center infrastructure with servers—thus saving on expensive components such as Nvidia’s NVDA -7.04%decrease; red down pointing triangle chips—if that signal changes. The AI spending wars are far from over.

MSFT is going to undercut the July 26th low of $417.27. That could be a long trigger if it moves back above. Also seeing some support in the 405ish range.

Microsoft’s Pain Is Nvidia’s Gain. Why Chip Makers Are the Big AI Winners.-Barron's

On the other hand, the money these companies are spending on AI is going to the balance sheets of chip makers like Nvidia NVDA-7.04%. Despite its shares dropping almost 20% over the past month, Nvidia got a decent boost from peer Advanced Micro Devices AMD-0.94%’ solid earnings report Tuesday.

I still think we are in the first innings when it comes to AI, so companies spending a lot now could be the leaders tomorrow.

This is interesting. Andrew Cuomo Is Back in Business—the Nuclear Power Business-Barron's

Andrew Cuomo has thrown his lot in with a public company for the first time since he resigned as New York’s governor three years ago. The company is Nano Nuclear Energy NNE-7.41%, a start-up that wants to place hundreds of small nuclear reactors at data centers, crypto miners, military bases, mines, and disaster areas. The former governor joined Nano’s executive advisory board in March and headlined the Nasdaq bell-ringing that celebrated Nano’s initial public offering in May.

For AI to do what it can do it needs power, lots of it. I think nuclear is going to start garnering a lot of interest here.

Today is the FOMC decision. It should be fairly cut and dry, not cut this time, set up for a cut in September. Barring anything different I would think traders will scour the language and presser for clues on how many cuts this year.

The Bank of Japan is on the other end of the spectrum at the moment from the Fed. Bank of Japan Raises Rates, Driving Up Yen-WSJ. Been long FXY for a bit now.

EWJ is a name I trade long and short through one of our counter trend models. Currently long. If I were trading it on a discretionary basis would use the 50 day as a trigger either way.

Oil is up over 2% this morning on this. Hamas Political Leader Ismail Haniyeh Killed in Iran-WSJ

Everything Else

Activision Call of Duty won’t let you set FJB, LGB, or FKH as your clan tag in game because of “profanity.” But it lets you put FDT.

Oops- MSNBC analyst says JD Vance only wants white children in America. One problem, his kids are biracial.

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