Nasdaq ($NDAQ) podcast mentions
That is Stephanie Roth, chief economist at Wolfe Research. The equity market declined today with the Dow dropping 1.2%. We had the S&P weaker by 0.4%. The Nasdaq Composite was essentially flat. Crude oil prices retreated today on indications some of the recent supply outages in the Middle East are beginning to resolve. Saudi Arabia is seeking to return about half the capacity of its east-west pipeline within days. Today, WTI was down more than 3%, closing New York trading at $102.43 the barrel. The House has passed a broad package of sanctions targeting Russian officials as well as key pillars of Russia's economy. Now, this bill is named after the late Senator Lindsey Graham. It sanctions Russian officials as well as banks and a shadow fleet of crude oil tankers. It also allows President Trump to impose tariffs on the top importers of Russian oil or natural gas. Here is South Carolina Senator Darlene Graham.
Doug Krisner · Bloomberg News Now · Fed Decides to Hike, Trump: Interest Rates Too High, More · 2026-09-17But look, we have NVIDIA revenue up 2x, hyperscaler CapEx up 2x, OpenAI and Anthropic's valuation up 2x, SpaceX up 2.5x in a pretty nasty backdrop. This is not about multiple expansion. This is an earnings driven market expansion. We've seen multiple contraction this year. Earnings are up 26%, of course, driven a lot by AI infrastructure, but the multiple on the NASDAQ and the S&P is actually down. Look at NVIDIA trading at 14 times next year's fully taxed GAAP earnings. This is no bubble like it was in 2000. NASDAQ, S&P, SOX, NVIDIA, all trading well below their average multiples. Okay, Mag 7 basically in line with its average multiple, but not everybody is winning.
Brad Gerstner · All-In with Chamath, Jason, Sacks & Friedberg · Brad Gerstner: No AI Bubble, Semis Eat the Nasdaq & AI's Take Off Problem · 2026-09-17Okay, at the bottom here, consumer discretionary, software, financials, huge sections of the market have barely moved, right? This is a market that is being driven by the largest CapEx buildout, the largest supercycle in the history of technology. Semiconductors are 70% of the Nasdaq's return. 70% of the return. That's both good and bad, and we'll get into that. So who's making the money? The makers of the tokens are making the money, and the buyers of the tokens are basically going along for the ride. Because of the tightness in the infrastructure market, we have massive public companies that look like venture capital returns. Dell up 5x, Hynix up 9x in just 18 months. I love this chart. In blue, you have the hyperscaler CapEx.
Brad Gerstner · All-In with Chamath, Jason, Sacks & Friedberg · Brad Gerstner: No AI Bubble, Semis Eat the Nasdaq & AI's Take Off Problem · 2026-09-17We've had this exponential token growth this year, 47 quadrillion tokens. That are going to be produced. So it's not a question again of demand. Codex users have grown 40x in the last 8 months. And knowledge work at enterprises, if you look at the median amount that enterprises are spending, about 17x over the course of the last 18 months. And I've talked to many people in the audience here, small businesses, medium businesses, large businesses, businesses like Altimeter. We can't operate our business without buying AI. So this is not overly surprising to me. And when we think about the productivity dividend to the economy, you know, if you look at 2015 to 2025, EPS growth was about 10%. That was 6% revenue plus about 38 bps of margin expansion every year out of the Nasdaq. So here's the question: can we turn the 38 bps to 100 bps of margin expansion because of AI? The answer is obviously yes.
Brad Gerstner · All-In with Chamath, Jason, Sacks & Friedberg · Brad Gerstner: No AI Bubble, Semis Eat the Nasdaq & AI's Take Off Problem · 2026-09-17This is how I think about managing the portfolio. Right? We're up about— the NASDAQ's up about 15%. But as I sit here and think about the risk, do I want to be small, medium, or large? This is how I think about the fan of potential outcomes. If the monthly AI lab revenues are closer to that $8 billion number, I think it's takeoff. Okay? I think we are gonna see an IPO this year. Um, and so I'm paying very close attention to what in fact are those monthly revenue numbers. I think the trends are intact, but we will see. That's gonna be the single most important thing as to whether or not between now and the end of the year we have liftoff. Second one is rates, the election, oil prices. Obviously rates are following oil prices to a certain extent. So what happens there? You know, if rates were to go to 5.5 on the 10-year, that's gonna be a big burden, you know, on the equity market. And then finally the regulation, the Anthropic IPO, we saw a trade down yesterday.
Brad Gerstner · All-In with Chamath, Jason, Sacks & Friedberg · Brad Gerstner: No AI Bubble, Semis Eat the Nasdaq & AI's Take Off Problem · 2026-09-17That is Stephanie Roth, chief economist at Wolfe Research. The equity market declined today with the Dow dropping 1.2%. We had the S&P weaker by 0.4%. The Nasdaq Composite was essentially flat. Crude oil prices retreated today on indications some of the recent supply outages in the Middle East are beginning to resolve. Saudi Arabia is seeking to return about half the capacity of its east-west pipeline within days. Today, WTI was down more than 3%, closing New York trading at $102.43 the barrel. The House has passed a broad package of sanctions targeting Russian officials as well as key pillars of Russia's economy. Now, this bill is named after the late Senator Lindsey Graham. It sanctions Russian officials as well as banks and a shadow fleet of crude oil tankers. It also allows President Trump to impose tariffs on the top importers of Russian oil or natural gas. Here is South Carolina Senator Darlene Graham.
Doug Krisner · Bloomberg News Now · Fed Raises Interest Rates, Trump Says Rates Should Be 1%, More · 2026-09-17That is Stephanie Roth, chief economist at Wolfe Research. The equity market declined today with the Dow dropping 1.2%. We had the S&P weaker by 0.4%. The Nasdaq Composite was essentially flat. Crude oil prices retreated today on indications some of the recent supply outages in the Middle East are beginning to resolve. Saudi Arabia is seeking to return about half the capacity of its east-west pipeline within days. Today, WTI was down more than 3%, closing New York trading at $102.43 the barrel. The House has passed a broad package of sanctions targeting Russian officials as well as key pillars of Russia's economy. Now, this bill is named after the late Senator Lindsey Graham. It sanctions Russian officials as well as banks and a shadow fleet of crude oil tankers. It also allows President Trump to impose tariffs on the top importers of Russian oil or natural gas. Here is South Carolina Senator Darlene Graham.
Doug Krisner · Bloomberg News Now · Fed Hikes Rates to Tame Inflation, Trump Backs Warsh, More · 2026-09-17That is Stephanie Roth, chief economist at Wolfe Research. The equity market declined today with the Dow dropping 1.2%. We had the S&P weaker by 0.4%. The Nasdaq Composite was essentially flat. Crude oil prices retreated today on indications some of the recent supply outages in the Middle East are beginning to resolve. Saudi Arabia is seeking to return about half the capacity of its east-west pipeline within days. Today, WTI was down more than 3%, closing New York trading at $102.43 the barrel. The House has passed a broad package of sanctions targeting Russian officials as well as key pillars of Russia's economy. Now, this bill is named after the late Senator Lindsey Graham. It sanctions Russian officials as well as banks and a shadow fleet of crude oil tankers. It also allows President Trump to impose tariffs on the top importers of Russian oil or natural gas. Here is South Carolina Senator Darlene Graham.
Doug Krisner · Bloomberg News Now · Fed Raises Rates to Curb Inflation, Trump: Rates Should Be 1%, More · 2026-09-17Happy Fed Day to everyone out there. Let's go look at the markets and how they reacted overall. And simply put, it was a down day. You had the S&P down almost half a percent. The NASDAQ was relatively flat though, only down 3 points, 1 basis point And then the Dow was down over 1% on the day. So the market certainly sold off on a 25 basis point rate hike, moved from 3.75 to 4% on the Fed funds rate. And the odds of another hike this year continues to march higher.
Justin Klein · InvestTalk · AI Data Centers Are Eating the Land Market: Real Estate's Next Big Disruption · 2026-09-16That is Stephanie Roth, chief economist at Wolfe Research. The equity market declined today with the Dow dropping 1.2%. We had the S&P weaker by 4/10 of 1%. The Nasdaq Composite was essentially flat. Crude oil prices retreated today on indications some of the recent supply outages in the Middle East are beginning to resolve. Saudi Arabia is seeking to return about half the capacity of its east-west pipeline within days. Today, WTI was down more than 3%, closing New York trading at $102.43 the barrel. The House has passed a broad package of sanctions targeting Russian officials as well as key pillars of Russia's economy. Now, this bill is named after the late Senator Lindsey Graham. It sanctions Russian officials as well as banks and a shadow fleet of crude oil tankers. It also allows President Trump to impose tariffs on the top importers of Russian oil or natural gas. Here is South Carolina Senator Darlene Graham.
Doug Krisner · Bloomberg News Now · Fed Raises Rates, Trump Backs Warsh, Faults 'Hostile' Board, More · 2026-09-16We aren't sure if there's going to be multiple hikes, which would be really bad for the stock market, or we're only going to get one, maybe two, not so bad for the market. From the looks of things and the harsh words we heard today from the new Fed chief, Kevin Marsh, we're going to get many hikes until the job is done. The job being slowing inflation appreciably. And that is why the Dow plunged 631 points, S&P lost 0.45%. But the Nasdaq fell only 0.01%. And that was a nice comeback. More on that in a moment. So even as I'm out here on the West Coast where these rates mean very little because tech does thrive no matter what, let me explain why this decision was right for the longer term, but miserable for the shorter term, and why the stock market may need to take a hit beyond today if inflation doesn't settle down. Big if. First, understand this economy does have a real head of steam, mostly because of the great data center buildout. These behemoths are beasts when it comes to capital expenditures. And you know what? I still think they will be house of pleasure when the smoke clears from the rate, rate hike.
Jim Cramer · Mad Money w/ Jim Cramer · Mad Money w/ Jim Cramer 9/16/26 · 2026-09-16Let's go to Chris in Maryland. Chris? Hey, Jim, this is Chris from Annapolis, Maryland. Nice! I'm calling in about the NASDAQ ticker SHIP. Ship. Uh, bulk transportation. Bulk transportation is on fire. I think it's a terrific situation. It's not an expensive stock and I think the yield is safe. I'd be a buyer.
Jim Cramer · Mad Money w/ Jim Cramer · Mad Money w/ Jim Cramer 9/16/26 · 2026-09-16That is Stephanie Roth, chief economist at Wolfe Research. The equity market declined today with the Dow dropping 1.2%. We had the S&P weaker by 4/10 of 1%. The Nasdaq Composite was essentially flat. Crude oil prices retreated today on indications some of the recent supply outages in the Middle East are beginning to resolve. Saudi Arabia is seeking to return about half the capacity of its east-west pipeline within days. Today, WTI was down more than 3%, closing New York trading at $102.43 the barrel. The House has passed a broad package of sanctions targeting Russian officials and key pillars of Russia's economy. This bill is named after the late Senator Lindsey Graham. It sanctions Russian officials as well as banks and a shadow fleet of oil tankers. It also allows President Trump to impose tariffs on the top importers of Russian oil or natural gas. This measure now heads to the president the president's desk for his signature.
Doug Krisner · Bloomberg News Now · Fed Hikes Rates, Trump: Rates Should Be 1% or Less, More · 2026-09-16Well, you pull that up. I'll give you the highlights from The Wall Street Journal. The Nasdaq react positively, up 6.67%. So this is the Wall Street Journal. They need a JavaScript plugin that changes it to 0.669 or something. I don't know. Most officials penciled in one more increase this year. An energy shock and a surge of investment have reshaped the inflation outlook. We talked about the Fed interest rates yesterday a lot, but the Federal Reserve raised interest rates Wednesday for the first time in 3 years, a sharp reversal that began taking back cuts as it made last year, implicit— implicitly undercut the White House's insistence that inflation is not a concern. The Fed is saying it kind of isn't a concern. The increase, approved unanimously, will raise the benchmark Fed funds rate by a quarter point to between 3.75% and 4%.
John Coogan · TBPN · METR and AI Regulation, Zuck Pushes Back on AI Slowdown, Fed Hikes Rates | Diet TBPN · 2026-09-16First though, let's do the numbers. Well, here you go. Kevin War started talking, stock started falling. Dow Industrials down 631 points today, 1.2% finished at 51,400. 4.61. NASDAQ basically flat, 25,978. S&P 500 gave back about 33 points, 0.4%. 7,551. Heard a lot about the Fed's rate hike today. Higher interest rates, of course, weigh on banks by curbing loan demand and doing a whole bunch of other stuff. Goldman Sachs fell 4% today. Wells Fargo sank 3%. Citigroup weakened 2.4%. JP Morgan Chase slid 1%. Kelly Wells was talking about mortgage applications. Rocket Companies, one of the biggest mortgage lenders in this economy, felt the sting today, dropped 1.8%. One of the biggest homebuilders also took a hit. D.R. Horton contracted 1.3%. Amazingly, tech was a bright spot.
Kai Ryssdal · Marketplace · Bond traders take a turn in the spotlight · 2026-09-16