The mainstream media getting on the AI Doom campaign might be the most significant signal of all. It hasn’t hurt the artificial intelligence (AI) stocks, and at this point, the media has nothing left to lose.

Another Record

Money is flowing, stocks are flying, and the S&P 500 (SPX) is lifting off from its 50-day moving average.

Breadth was impressive all around yesterday, especially on the NASDAQ Composite.

Market Breadth	NYSE	NASDAQ
Advancers	1,676	3,036
Decliners	1,088	1,634
New Highs	135	298
New Lows	40	77
Up Volume	2.66 billion	6.89 billion
Down Volume	1.71 billion	2.98 billion

Same Tide

The same tide lifted almost all ships, but midcaps got the most action.

Sore Spot

I continue to worry about private equity, credit, and banks as the auto-parts maker, First Brands’ bankruptcy, has snared more names than initially thought.

I will be watching to see if big banks (KBWB) can hold above the 50-day moving average, as the rate of change (ROC) and the relative strength index (RSI) have plunged.

Today’s Session

The market is looking at a quiet start to trading, although the bias is obviously to the upside.  This morning, Cantor Fitzgerald raised its target on Nvidia (NVDA) to $300 from the prior target of $240.

The coolest story of this morning is DoorDash (DASH) selecting Serve Robotics (SERV) for autonomous delivery.

Its Two Economies

Overall consumer confidence is drifting lower.

But those with cash are living their best life.

Delta Air Lines (DAL) is poised to have a strong session after its earnings beat that was powered by “continued strength in premium cabins.”

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