Starting today, we’re expanding the Evening Edition to Wednesdays!

Tech leadership stayed intact but fragile. Nvidia held its ground while Alphabet and Apple posted solid intraday gains following a favorable antitrust ruling. However, the rally stayed narrow, keeping our morning call about concentration risk front and center… fact is that a slip from any one AI bellwether could still snap momentum across the Nasdaq.

Gold validated the safe-haven thesis from the morning note, climbing above $3,600 and logging fresh intraday highs. That move reflects deepening anxiety about fiscal sustainability and political interference at the Fed, a theme reinforced by reports of growing tensions over central bank independence and a global outlook that points to further geopolitical tension.

Finally, while macro data has been mixed, investor psychology remains tilted toward caution, with traders largely parking risk and waiting for clarity before placing big bets. The bond selloff did reverse for the day as the market evaluated the JOLTs data ahead of NFP Friday… but tariffs and Fed drama continue to loom over and dampen sentiment.

This short but insightful post on SECFilingData.com spotlights a stark shift in insider behavior: the U.S. market’s Insider Buy/Sell Ratio has plunged to 0.29 low as recently as June, well below its long-term average (~0.42). Things have recovered a bit by now with the ratio up to 0.34, but it still remains beneath typical levels.

The signal? A stealth wave of insider selling. This isn’t the exuberant leadership we love; it’s a quiet cue suggesting corporate insiders are not betting on the current run, even amid frothy AI rallies and record buybacks. 

It's a subtle yet clear sign that those with the best view (and arguably the largest purely financial incentive) may be tapping the brakes and looking for the off-ramp.

Be sure to check out the post for the full details on specific companies and sectors.

President Trump promised to make America the leader of artificial intelligence.

That's why Jeff Brown believes he's about to grant what he calls "national security status" to this little-known company…

Sending shares higher than anyone can imagine.

This is the only company in the U.S. that can mine a metal that's critical to the $100 trillion AI boom.

Click here to get details on this virtual monopoly.

This week’s Masters in Business with Barry Ritholtz features Moody’s chief economist Mark Zandi dissecting the U.S. economic landscape with sobering insight. 

Zandi points out that states accounting for nearly one-third of U.S. GDP are already in or hovering near recession, while job growth is slowing and consumer spending remains muted… the weakest July seen since 2009. He cautions that tariffs, inflation, and waning spending could push more regions downward by year-end. 

It’s a contrarian dose of reality: while markets chase AI heats and central bank pivots, half the country is quietly treading water or slipping backward.

Whether you agree with that take or not, the whole conversation is worth a listen as Zandi offers a refreshingly non-partisan analysis that’s data and model driven all the way through.