Rio Times Global Economy Briefing
The Big Three
The Dow hit a record on rotation. Industrials surged 874.86 points (+1.73%) to 51,561.93 as money moved out of technology into healthcare and financials.
Broadcom cracked the AI trade. A revenue miss sent the chipmaker down 12.6%, dragging the Nasdaq to a fractional loss even as the broad market rose.
Hike odds jumped to 85%. Rising jobless claims and 97K Challenger layoffs — nearly 40% AI-attributed — paired with elevated oil to push year-end Fed hike pricing from 60% a week ago.
