Economic Indicators - Challenger job cuts increased significantly from 35,500 to 108,000, indicating a rise in corporate layoffs [2][4] - First-time unemployment insurance claims rose sharply from 29,000 to 231,000, suggesting potential labor market weakness [2][3] Market Reactions - The overall market, particularly the S&P 500, is experiencing volatility, with the E-Minis down 41 points at the start of the day [8] - Precious metals like gold and silver are also seeing declines, with gold down $101 and silver down 10% [8][10] Company Insights - Amazon is expected to report strong revenue numbers from its retail business, but there is concern regarding its capital expenditures (capex) and how it will impact stock performance [11][12] - The market is increasingly scrutinizing capex spending, which was previously viewed positively, indicating a shift in investor sentiment [12][14]

Bitcoin (BTC) pushed higher during the U.S. morning, rising as high as $97,000 at one point and lifting bitcoin related equities alongside. Strategy (MSTR), the  largest bitcoin treasury company, rose more than 8% and KindlyMD (NAKA) advanced 10% Metaplanet, the largest Asian bitcoin company, gained 15% in Tokyo trading. Strive (ASST) added 7% after Semler Scientific (SMLR) shareholders voted to approve the company's acquisition. A notable divergence is emerging across asset classes. Technology stocks c ...