MARKET PULSE Five sessions. One uncomfortable idea.The economy is strong, and that is now the problem. Business activity grew at its fastest pace in more than five years. Jobless claims fell to 197,000. Fed officials leaned toward more hikes. The bond market did the math. The 10-year Treasury yield went from 5.01% last Friday to 5.18% Thursday, per Treasury data. It was still above 5.1% at midday Friday. At midday Friday the S&P 500 was up about 1% for the week. The equal-weight version was slightly lower. That gap is the week. Money got dearer while a few AI leaders held up the index. The AI build feeds the boom, and it needs financing too. This week showed where the bill lands. PREMIER FEATURE 7 AI Stocks to Lead the Next DecadeAI is fueling the Fourth Industrial Revolution – and these 7 stocks are front and center. One of them makes $40K accelerator chips with a full-stack platform that all but guarantees wide adoption. Another leads warehouse automation, with a $23B backlog – including all 47 distribution centers of a top U.S. retailer – plus a JV to lease robots to mid-market operators. From core infrastructure to automation leaders, these companies and other leaders are all in 7 AI Stocks to Invest in Today. Free today, grab it before the paywall locks. TAKEAWAY 2 Not All of the Bond Selloff Was the EconomyOn Wednesday, a $70 billion five-year auction cleared at 5.033%, the highest since 2006. The 30-year touched about 5.45% Thursday, last seen in 2004. Then came a second view. Strategists said forced selling was adding speed. Traders had bet long yields would outrun short ones. The Fed talk lifted short yields too, and those bets got stopped out. Both stories can be true. Forced selling can fade once crowded trades clear. Growth-driven moves tend to last. The average 30-year mortgage rate rose to 7.03%, above 7% for the first time since early last year. The Signal Watch the 10-year against 5%. A drop back below it points to positioning. A return to this week's highs points to the economy. FROM OUR PARTNERS Buffett, Gates and Bezos Quietly Dumping Stocks—Here's Why 
The world's wealthiest individuals are making huge moves with their money. Warren Buffett just liquidated billions of shares. Bill Gates sold 500,000 shares of Microsoft. Jeff Bezos filed to sell Amazon shares worth $4.8 billion. What is going on? One multi-millionaire believes they are preparing for a catastrophic event. But not a crash, bank run, or recession. It’s something we haven’t seen in America for more than a century. For the full story, click here. TAKEAWAY 4 The AI Build's Debt Got a Price TagOracle (ORCL) served a force majeure notice on Project Jupiter, its New Mexico campus. The developer is a unit of Blue Owl Capital (OWL). The $18 billion loan behind it already traded below 90 cents. Oracle is not leaving. The notice lets it defer payments if the campus misses its 2028 start. The site's gas pipeline now starts in February 2027. A key energy permit was denied. Oracle fell about 4% Thursday. It called the notice routine and said the project "remains on our planned schedule." Blue Owl said its commitments stand. The loan disagrees. Lenders get paid by a building that earns rent. The tenant now has a written path to pay later. That shifts delay risk toward lenders, even if no payment is missed. The Signal The loan price is the scoreboard. A deeper discount would mean lenders see more than a precaution. TAKEAWAY 5 The AI Money Loop GrewOn Thursday, Akamai (AKAM) signed a seven-year, $11.6 billion cloud deal with Anthropic. It also issued Anthropic a warrant for up to about 5% of its stock at $111.33 a share. About 2% vests with the signed deal, the rest only with more business. The stock opened near $125 Friday and was near $117 by midday. Friday, Nscale raised $3.36 billion in pre-IPO convertible notes. Nvidia (NVDA) committed $1 billion of it. Kansas City Fed President Jeff Schmid said the Fed must ask, "are we moving to a too-big-to-fail AI ecosystem." He asked. He did not say it is. The loop still needs outside buyers. SB Energy pushed its IPO to October after investors balked at a value above $50 billion. The Signal Suppliers, chipmakers and labs now hold claims on each other. That speeds the build, but trouble at one node can reprice another. Watch whether SB Energy returns at a lower value. PUTTING THE WEEK TOGETHER Six takeaways. One cost moved under all of them. The Fed started treating demand, AI spending included, as a reason to keep hiking. Bonds priced it, with forced sellers adding speed. A few AI winners carried the index, even as AI marked down firms it might replace. Then the build's financing showed its seams. A loan below 90 cents. A supplier handing its customer a warrant. A Fed president asking the question out loud. Private credit rationing exits as its best borrowers left. Friday didn't settle it. Oracle stood by its schedule. Akamai gave back much of its opening jump. Nscale still raised $3.36 billion. Capital still flows to AI. It just asks more questions. The week settled one thing. Strength, not stress, now sets the price of money. It left open whether the bond move was the economy or a crowded trade unwinding. That answer sets what the AI build pays to borrow next. 3 Stocks at a Major Turning PointSomething unusual is happening beneath the surface of three widely followed stocks.
In each case, the fundamentals are saying one thing... while institutional activity, management signals or the options market are saying something else. That kind of disagreement can matter. Because when the evidence stops lining up, the next move in the story often comes down to a handful of signals most investors never think to watch. Our new FREE Market Tell Special Report breaks down three of these situations, and shows you exactly what we’re watching next. Get the Free Report: 3 Stocks at a Major Turning Point → | 
