Dear readers, Yesterday we noted that Friday's nonfarm payrolls report — consensus at 62,000 — would determine whether the labor...

Dear readers, Yesterday we wrote that the plumbers were waiting to get paid — that the infrastructure connecting crypto, AI,...

Dear readers, Yesterday we wrote that the software layer was demanding its share of attention and capital — that the...

Dear readers, On Friday we wrote that the AI trade was migrating from the application layer to the physical layer...

Dear readers, Yesterday we sorted Big Tech into three camps — companies converting infrastructure spending into cloud revenue, companies asking...

Dear readers, Yesterday we wrote that the market rewarded companies showing receipts and punished those showing ambition without them. That...

Dear readers, Yesterday we asked whether the numbers would confirm the thesis or complicate it. The answer, delivered in a...

Dear readers, Yesterday we wrote that the next 48 hours would answer the question this market has been deferring for...

Dear readers, On Saturday we wrote that the market wanted software margins to justify the hardware bill. On Wednesday, it...

Dear readers, On Thursday we wrote that the market was sorting companies into two bins — ad-tech giants printing 50%-plus...