S&P 7446, PPI at 6%, and Jensen Huang on Air Force One — The Market Is Living in a Fever Dream
The S&P hits an all-time high while wholesale inflation screams and a new Fed chair steps into the ring. What could go wrong?
Ticker Ratings
| Ticker | Rating | Entry Price | Current | $ Gain | % Gain |
|---|---|---|---|---|---|
| NVDA NVIDIA CORP | buy | $226.59 | — | — | — |
| TSLA Tesla, Inc. | buy | $446.32 | — | — | — |
| AAPL Apple Inc. | hold | $298.63 | — | — | — |
| NBIS Nebius Group N.V. | buy | $208.39 | — | — | — |
| VLO VALERO ENERGY CORP/TX | buy | $244.10 | — | — | — |
| MPC Marathon Petroleum Corp | buy | $248.99 | — | — | — |
| PBF PBF Energy Inc. | buy | $40.93 | — | — | — |
| PSX Phillips 66 | buy | $171.80 | — | — | — |
| AMD ADVANCED MICRO DEVICES INC | buy | $444.96 | — | — | — |
| MRVL Marvell Technology, Inc. | hold | $180.73 | — | — | — |
| BABA Alibaba Group Holding Ltd | hold | $146.80 | — | — | — |
| WIX Wix.com Ltd. | sell | $55.69 | — | — | — |
Let's take stock of where we are: the S&P 500 just hit a record 7,446, the Nasdaq is up 1.2%, $NVDA is up 2.8%, and $TSLA is up 3.6% — all while wholesale inflation just printed at 6% year-over-year, the hottest PPI reading in four years. The Dow? Down 0.3%. Even the Dow knows something's off.
The AI trade is doing its best to ignore macroeconomic gravity. Alger's Ankur Crawford went on CNBC to say she's not worried at all about a bubble — a sentence that historically ages about as well as "subprime is contained." Meanwhile, $NBIS surged on a 684% revenue explosion, refining stocks like $VLO, $MPC, and $PBF are ripping on the biggest gas price surge in 30 years, and $F just reported a 14.4% sales drop with EV volume cratering 24.8%. The economy is bifurcating in real time.
The plot twist nobody ordered: newly confirmed Fed Chair Kevin Warsh inherits shelter inflation running above 7%, a partisan Senate confirmation, and a June 17th FOMC meeting that markets are already treating like a season finale. The bull market is speed-running every late-cycle warning sign — and somehow still making new highs. Respect the tape, but maybe keep one eye on the exit.