Capex Backlash Returns

25%its chance, of the story’s futures

−0.4%on the S&P 500, if it happens

Investors focus on Meta’s heavy infrastructure spending and question the timing of returns from AI products. Tesla does not provide enough positive surprise to shift attention away from margin pressure and execution risk.

What it moves

Technology−0.7%
Consumer Cyclicals−0.3%

Sectors in percent; other series by direction only.

Each figure is the modeled move of the S&P 500 if the outcome occurs. For information only. Not investment advice.

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