So, with seasonality on the horizon, this week's rebound, do we think a year-long rally year end rally is coming. Guy >> gobble gobble. >> I had to say that.Happy hump day. Let's get it out of our system now. >> Okay, it's out. It's amazing.You know, Tim talked about this the other day. The fact that last week we were talking about I was talking about the potential for an outside month to the downside when the S&P 500 was 6,500ish. We had made a new all-time high in the month of November.We were flirting wi ...

Consumer Spending & Market Trends - Overall consumer spending declined, but high-end consumer spending remained resilient [3] - The top 40% of the company's customer base experienced double-digit per capita revenue growth in the last quarter [4] - Expectation of continued trend of buying high-end ready-to-wear and fine jewelry [5] - "Silent luxury" (high-end, logo-free products) has been popular, but there's a potential comeback of color and embellishment [7][8] E-commerce & Trade Landscape - Changes in policies for goods made in Europe, Asia (China, India) impacted consumer sentiment [9][10] - De Minimis was not a big threshold for the company's high-end business, as most shipments were over 800 USD [11] - Stability in stock markets, real estate, and commodities has driven positive consumer sentiment [11] Inventory & Supply Chain - Maintaining a balance between demand and inventory levels is crucial to avoid discounting in the luxury industry [12][13] - There was oversupply in 2023, but the industry has since improved calibration between supply and demand [13] - Full-price business has picked up tremendously over the last eight quarters, indicating healthy margins [13]

AI 芯片市场竞争格局 - Google 的 TPU 主要服务于其自身产品，如 YouTube、搜索和 Gemini [3][4] - NVIDIA 的 GPU 因其通用性和架构兼容性，在第三方客户和公共云工作负载中更受欢迎 [5][8] - 云供应商如 Amazon AWS 也在开发自己的 AI 芯片，如 Trainium 和 Inferentia，主要用于优化自身工作负载 [10][11] - 行业专家认为，目前 NVIDIA 在 AI 芯片市场占据主导地位，但云供应商自研芯片的长期影响尚不确定 [13][14] AI 芯片技术与应用 - TPU 适用于大规模 AI 任务，如视频推荐和 Reels，但需要高度定制 [3] - GPU 的通用性使其更易于在不同云环境中部署和编程 [5][8] - Inference 工作负载的增加使得云供应商自研的 Inferentia 芯片更具相关性 [11] - 行业正在探索 AI 中间件层，以实现跨不同云环境的效率和灵活性，避免为每个云环境编写特定代码 [15][16][17] 市场规模与未来趋势 - AI 芯片市场正经历一个巨大的扩张周期，预计到 2030 年市场规模将达到 7000 亿美元到 1 万亿美元 [13][14] - 多云和多 AI 云部署将成为企业趋势，企业希望在不同云环境中部署工作负载，并使用标准编程语言进行优化 [17] 公司动态 - Deere 通过提高设备价格来弥补关税成本，并预计这一趋势将持续到 2026 年 [1] - 市场猜测 Google 可能会将其 TPU 芯片出售给 Meta，但该交易的实际意义可能有限 [2]

And now, what a difference a few trading days can make. Before this week, the major averages were having a rough November. NASDAQ was down nearly 7%, but since Friday, everything's taken off, it seems.Tech leading the way, and the S&P up more than 4%. So, does this bullishness in the past few days give investors an allcle for a year-end rally. Joining us now are Victoria Green from Gsquare Private Wealth and Jim Schmeiguel from SEI.Guys, welcome. Victoria, ah, AI such a flighty trade. I mean, Google's down, ...

Mike, some very sad news to report now in the wake of that shooting incident here in Washington DC last hour. We now have a statement uh from the governor of West Virginia, Governor Patrick Moresy, who says it is with great sorrow that we can confirm both members of the West Virginia National Guard who were shot earlier today in Washington DC have passed away from their injuries. He goes on to say, "These brave West Virginiaians lost their lives in the service of their country. We are in ongoing contact wit ...

The S&P 500 on pace for its best week since June. So, are we setting up for an even bigger year-end rally. Let's ask Katie Stockton of Fair Lead Strategies.Katie, good to see you. >> You, too, Mike. >> Um, so market obviously kind of held up at this kind of widely watched support late last week.We've responded pretty well to, I guess, some oversold conditions. Um, so is the market kind of did it do enough in this downturn to to refresh things in your mind. I don't think we're quite there yet.We're looking a ...

AI 市场竞争 - Large language models 的准入门槛低于预期，市场竞争加剧 [2][3] - 中国开源模型在算力有限的情况下，与 Gemini 3 和 OpenAI 的模型展开竞争 [3] GPU 市场 - 短期内，对 Nvidia 等基础设施硬件公司的需求可能依然强劲 [4][5] - 第三方分销渠道中，部分 GPU 的定价出现疲软迹象，可能导致渠道库存过剩，最终影响 Nvidia [5] - 长期来看，如果 OpenAI 的发展受阻，且市场竞争加剧，可能会影响整个 AI 生态系统的发展，进而影响对 Nvidia 的投资 [6] AI 投资与增长 - 云平台超大规模厂商的增量需求主要来自风险投资驱动的 AI 需求，这部分需求受到限制 [7] - AI 领域的增长空间和增长的可持续性存在疑问 [7]

here with her top retail plays into year end is Bernstein's Anisha Sherman. Anisha, great to uh great to have you on. Before we get to some of your favorites, I wonder what you're hearing from some of the companies that are recently reporting the retail industry uh about the tone of spending, the the pace of discounting and things like that into the into the final four weeks here.>> Sure. Thanks for having me on. So, we are in the thick of retail earnings at the moment.We've had a lot of big prints. We've g ...

Now, you've been, I think, pointing toward, let's say, 7,000 in the S&P by year end. Now, that's only like two and a half% up from here. We made some progress, but a year ago, you also thought we'd hit 7,000 in the first half of this year.So, what happened along the way. And and I guess what might you think about in terms of impediments looking into 2026. >> Yes.I mean, we're almost through this year, and I'd say looking back, uh, this was a five years of history compressed into one year because we had a ma ...

Leadership Qualities & CEO Mindset - Great CEOs exhibit boldness in their thinking, avoiding incremental approaches [2] - They cultivate performance-based cultures and build "star teams" rather than teams of individual stars [2][3] - Continuous learning and curiosity about the external world are crucial traits [10] - Servant leadership, balancing confidence with humility, is a key attribute [11] The Four Seasons of Leadership - The four seasons of leadership are stepping up, starting strong, staying ahead, and sending it forward [3][4] - Transitions occur not only at the beginning and end but also around the two- or three-year mark [4] - Successful transitions create significant value, while poorly managed transitions can destroy billions of dollars [5] - Great CEOs avoid stagnation in years three and four, evolving their strategies to adapt to trends [6] Impact of a CEO - A new CEO can initially boost a company's stock [7] - One person can significantly impact a large organization [7] - Breaking up GE into three companies (healthcare, power, and aircraft engines) created extraordinary value [9][10]