Thursday, September 10, 2026: Crude tops $100 for the first time since May, ECB hikes a quarter point, and hot PPI knocks stocks lower.

The issue is oil at $100 plus ECB tightening plus 30-year mortgage rates above 7%—this is a macro squeeze, not just a headline. Hot PPI says inflation isn’t done. NVDA testing all-time highs while DeepSeek’s ultra-low-cost model pressures US frontier labs—watch this. AI debt now equals 68% of new long-term Treasury borrowing, per JPMorgan. That’s concentration risk. US data center builds are so expensive AI companies are moving overseas—bad signal for domestic power and construction bets. Nvidia expanding Australia AI infra with local partners is the other side. India hosts BRICS as the Iran war tests bloc unity—not sure people appreciate how a fracturing bloc could complicate dollar and energy flows. SLAB ticks lower on report the Texas Instruments deal goes to Phase 2 in China—semis and China regulatory risk back on the tape. Kalshi launches gold and silver perps after CFTC approval. Wells Fargo says Bitcoin beats inflation over time but isn’t a reliable hedge—alternative assets gett

The issue is oil at $100 plus ECB tightening plus 30-year mortgage rates above 7%—this is a macro squeeze, not just a headline. Hot PPI says inflation isn’t done.