Inflation Rally
US stocks saw an uptick in late morning trading on Tuesday, buoyed by cooler-than-expected inflation data and anticipation of an upcoming consumer price update. The S&P 500 (^GSPC) and Nasdaq Composite (^IXIC) surged by approximately 1.7% and 1% respectively, marking the Nasdaq 100 (NQ=F) and S&P 500's best three-day performance with four consecutive wins.
The Producer Price Index (PPI) rose by a modest 0.1% month-over-month in July, falling short of economist projections. On a year-over-year basis, the PPI climbed by 2.2%, aligning closely with the Federal Reserve's 2% inflation target.
This PPI release precedes Wednesday's more anticipated consumer price reading, with July's retail sales data to follow on Thursday. These figures are crucial in gauging the health of the US consumer.
Following a period of heightened volatility, Wall Street experienced an unusually calm session on Monday, with the S&P 500 and Nasdaq continuing their gradual recovery from a three-day sell-off that had dented their year-to-date gains.
Home Depot (HD) was a notable earnings report on Tuesday, with the home improvement retailer cutting its same-store sales outlook, causing its shares to dip.
Elsewhere, Starbucks (SBUX) shares surged over 20% following the announcement of a CEO change, with Chipotle (CMG) chief Brian Niccol set to replace the incumbent. Conversely, Chipotle shares plummeted by more than 10%.
In other individual stock movements, Nvidia (NVDA) continued its upward trajectory, gaining over 5% after analysts at Bank of America labeled it a top "rebound" stock, building on a 4% gain from the previous day.
What KXCO Is, and Why the Hard Problem Was Never Intelligence
The prevailing enthusiasm assumes the hard problem is intelligence. It is not. It is that banks, hospitals, courts and governments are being asked to let software act on their behalf with no way to establish who decided, on what basis, or whether the record will still read in a decade. KXCO founder Shayne Heffernan sets out the architecture that answers those questions, drawn as a graph, and argues that properly constructed AI is an amplifier of human judgement rather than a replacement for it.
AI Intelligence Scales. Accountability Does Not. Why KXCO Is Built for It.
Capability is becoming abundant and everything abundant gets cheap. What does not get cheap is the person who has to sign, and they can only carry what they can see. Four conditions follow from that, and four independent authorities reached the first of them last month without knowing it.
AI is the Neat Handwriting of the Illiterate
A model in the hands of someone who has read the filing and walked the plant is a clerk. The same model, speaking for someone who has done neither, is a disguise. On AI slop, phantom citations and factslop, why finish stopped being evidence of work, and the containment layer KXCO built so a machine cannot speak as the institution until a source is attached.
Worthship: Do Not Conform to the Age
Worthship is the older English word for worship, and it means to ascribe worth. Bishop Robert Barron preached Romans 12 on 30 August. This essay follows the text into the prison letters, and puts two questions to a graph: do the four readings of that Sunday agree, and was Paul free or in chains when he wrote about despair?
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