RingCentral's Agentic Voice AI Fuels Explosive Growth
$RNG has always claimed to be an eventual AI winner, stock soared 35% on results on Friday, back near 2023 and 2024 highs for a Software name Agentic voice AI is transforming business communications, with RingCentral positioned as a leader in this emerging category. AI agents are increasingly being incorporated into customer service workflows, creating new opportunities for AI-powered communication platforms. AIR (AI Receptionist) customer count reached 8,300 in Q4, up 44% sequentially, with customers adding usage-based minute bundles. ACE (AI Conversation Expert) customer count exceeded 4,800, up 144% year-over-year. Pure AI ARR revenues have almost tripled year-over-year and contributed significantly towards meeting the stated goal of $100 million ARR from new products in 2025. RingCentral 3.0 vision positions the company as a leading agentic voice AI platform, transforming from a communications company to an AI-powered communications company.
Broader Market Defies Mega‑Cap AI Volatility Narrative
In this episode, Michael and Stephen break down one of the most confusing market environments in years. While volatility in mega-cap software and AI names has grabbed headlines, the broader market is quietly telling a very different story. https://t.co/uhRhg9iiil
Dow Jones Composite Hits Record High Across 65 Stocks
The Dow Jones Composite Average just closed at another new all-time high this week. This index includes all 30 stocks in the DJ Industrial Avg, all 20 in the Dow Transports and all 15 stocks in the DJ Utility Average....
Gold, US Indices, Bitcoin: This Week's Key Trade
Weekly Market Analysis , Macro Update & Trade ideas on Gold , US indexes & Bitcoin https://youtu.be/HNcStxTfQSg?si=D3pxln2A4J1VbDYV
Trump's Tariff Threats Persist, Undermining Economic Certainty
If you thought Trump would stop throwing around tariffs right, left, and centre after Friday’s ruling, think twice… I still think the impact is blown out of proportion by the media, but it does affect economic sentiment due to the lack...
2026 Poised as Decade’s Best Year for Active Management
2026 could be the best year for active management in decades. The combination of a heavily concentrated index alongside a period of cyclical broadening provides for a backdrop of most stocks beating the benchmark.
Stay Overweight on Equities, Still Diversify Globally
I joined the @MilkRoadMacro show this week. Laid out why we remain overweight equities, but you want to still own other parts of the 🌍. https://t.co/X8faci8XLY
Dollar Weakness Boosts Gold, Hurts US Stocks
⚠️US Dollar weakness is historically BAD news for US stocks: AVERAGE ANNUALIZED RETURNS during the 5 major Dollar bear markets since 1967: S&P 500: +6.4% annualized Gold: +43.1% annualized EM stocks: +23.7% annualized👇 https://globalmarketsinvestor.beehiiv.com/p/the-us-stock-market-has-peaked
Financial Media Misuses Weak GDPNow Forecasts to Spin Bullish Narrative
Recall @HalftimeReport Slink's confidentally quoting (on almost a daily basis) of the robust GDP Now projections by the Atlanta Fed (among the worst forecasters extant) to support her "the economy is great" and bullish market thesis? That is the...
Supreme Court Says IEEPA Can't Authorize Presidential Tariffs
The Supreme Court Ruling In a 6–3 decision (Learning Resources, Inc. v. Trump), the Court ruled that the International Emergency Economic Powers Act (IEEPA) of 1977 does not give the President the authority to impose tariffs.
IEEPA Tariff Invalidated Threatens Existing Trade Deal Framework
JPMORGAN: “.. many trade deals negotiated to date have relied on IEEPA tariffs and have not yet been formalized as trade agreements. With the legal basis for these tariffs now invalidated, the fate of these deals is in question. These...
Bearish Turn Opens 35% Short Opportunity on Humanity
The market sentiment for Humanity flipped bearish 2 days ago. Support is identified, offering a compelling short opportunity of approximately 35% (more with leverage). #Trading #ShortOpportunity #IvanClips https://t.co/vNtVS3D8mw
Trust NCI's Spider Sense, Go Long $BNAI Tonight
$NCI never doubt spider sense 😎 Nice long bias today @IUTraders for potential $BNAI Friday night replication. https://t.co/sEPvEtmdVc
ProShares Shifts $17B to IQMM for Cash Management
Mystery solved via Ben re the $17b in $IQMM on Day One. The call is coming from inside the house, literally, ProShares own funds are all now using IQMM now for their cash positions. Big time BYOA and not as...
Historic Shift Signals Growing Market Structure Risks
Historic Dispersion From Growth To Value Rotation - some quant talk to highlight growing risks in market structure. #CTA #IRAN $NVDA https://t.co/ZcfZDnpE7l
MFs Adding ETF Share Classes Will Trigger Massive Drainage
Prepping for presentation I found this slide from last year, it's a bit strong but I stand by it re what will be the main impact of MFs adding on ETF share classes (which should kick off in next few...
Korea Call Delivers Near‑double EWY Gains Since August
Since our bullish call on Korea last August… EWY +99.27% SPY +7.78% Money counting time. https://t.co/EKTw9HANNh
S&P 500 Rebounds Above 6900, Tech Leads Rally
$SPX closed back above 6900 to end the week. $GOOGL $AMZN and $NFLX powered the rally, silver surged 8%, and I tackled viewer questions on $CAT entries, $MSFT Fibonacci risk, $ENPH breakout and the Hindenburg Omen. Full CHART THIS Mailbag: https://t.co/HpUIXN5kHi https://t.co/AiL2WR6RDf
Investors Shift to Staples Amid Mag‑7 CAP‑Ex Weakness
In my weekly markets video for clients, I highlighted how investors have gone from “7 to Staples”. Usually, growing macro risks lead to Staples leadership. This time macro isn’t the issue, but it could be due to Mag 7’s idiosyncratic...
NYSE Composite Hits Record Weekly Close
That was just the highest weekly close in the history of the NYSE Composite Index https://t.co/jxcFWw2qDi
NVDA to Outpace Street, 2027 Growth Near 40%
T-minus 5 days until $NVDA reports. I expect guidance to come in ahead of expectations for CY26. That said, the real question is: what about 2027? My take: Growth in CY27 will be closer to 40% vs. the Street at...
Vipin Arora Heads BEA, Reporting GDP and P
Another Friday, another “Friday Night Dirty” from @VD718 @Seawolfcap & myself from our “WAWD” Substack. A throwback to “Electric Company”: $CVNA $OWL & you will be hearing the name “Vipin Arora” who heads the BEA which is responsible for reporting...
Apple’s Nasdaq Correlation Hits Historic Low, AI‑Proof Edge
⚠️Apple has almost NEVER decoupled from its Tech Peers like this before: $AAPL, 40-day price correlation with the Nasdaq 100 dropped to 0.2, the lowest since 2006. This is down from 0.92 in May 2025, a truly historic divergence. This comes as Apple...
S&P Briefly Dips Negative, Marking a Ludacris Day
ludacris day means that sometime in the day the s and p turns negative after being substantially higher. the s and p did turn negative (briefly) qualifying as a ludacris day.
Equity Risk Discount Signals Overvalued Market Amid Turmoil
An equity risk premium which has recently turned into an equity risk discount. (Historically, an awful launnching pad for future returns) Policy turmoil, slowing domestic economic growth, sticky inflation, circular financing deals in AI (holding up the econ data) and traditional...
S&P Reverses Gains, Slides Downward After Recent Surge
S and P now down on the day (reversing 45 handles in last few minutes) From an hour ago... on @thestreetpro Dougie Kass Ludacris Day? @dougkass
High Valuations Test Market Resilience in 2026
Markets flat near the highs + valuations near the upper end of history. Tom Martin of Globalt breaks down what that actually means—and what could sustain (or break) it in 2026! Our latest episode of the Market Misbehavior podcast: https://t.co/nA9bmU87rf...
Ex‑US Value Soars, Advisors Still Underweight Benchmark
Value ex-US ripping again this year, spreading to US value too. Not a lot of discussion about it in my world yet. Every advisor we speak to still way underallocated relative to benchmark...
Accounting Rules Reveal Shutdown’s Massive Real GDP Loss
A fun(?) 🧵 on how nerdy government accounting rules had a big impact on Q4 GDP. And how they reflect how wasteful the 43-day government shutdown was. TL;DR: Small reduction in nominal federal spending in Q4. But a big decline in...
AI Connectivity Group Ends Week on Fire
TTMI, GLW, COHR, LITE, CIEN, FN AI connectivity group stays super hot to close the week
Gold Rises With Stocks, Breaking Inverse Trend
🚨 GOLD DEEP DIVE | FEB 20, 2026 🚨 Gold: $5,048/oz (+1.25% today | +71.82% YoY) Silver: $81.94 (+151% YoY) GDX Miners ETF: $104.23 (+21% YTD) The most telling signal: gold is surging today while stocks ALSO rally on the Supreme Court tariff ruling....
SCOTUS Tariff Ruling Sparks Volatile XRT Intraday Swings
Markets can be tricky... SCOTUS tariffs ruling giveth...then taketh away... SPDR S&P Retail ETF intraday...upside volatility...that has been slowly eroded in the last 45 min...now trading where it was before announcement. Let's see how things shake out by closing bell 🤔 $XRT https://t.co/d2XrrhSSlC
Geopolitical Shocks Spark Volatility,
With tensions high around Iran, here's an updated table of major geopolitical events and how the stock market did after. Yes, some of them definitely caused volatility, but the longer-term median returns are fairly normal. https://t.co/477EvHtgAn
Amazon Clears $207, Targets $210+ After $197 Pivot
$amzn nice week. RDR Tuesday around $197 pivot. Cleared $207 and now it’s $210+ to manage.
GE Call Spreads Double, Extra Time Boosts Returns
$GE Feb 330/350 call spreads from earnings snapshots now near $13 from $7, often pays to give extra time when playing a high quality name
Falling CPI‑PCE Spread Signals Declining Inflation, Defying Q4 GDP
When the CPI-PCE spread heads lower (the spread is cyclical), it is because inflation is going lower. CPI is what matters.. End of discussion The economy is currently doing the opposite of that Q4 GDP report https://t.co/xBUcAxE1EP
Yield Curve Inverted 43 Months, Recession Still Unseen
The yield curve inverted 43 mos ago ... still no recession Nearly everyone told us a recession was coming. If you didn't, you were mocked and told it was Quad Four People say the NFC winning the Super Bowl being good for...
Supreme Court Blocks Key Tariff Components, Administration Must Seek Alternatives
Update on US tariffs: The Supreme Court has ruled 6-3 against components of the administration's tariff policy. The ball is now in the administration’s court—specifically the willingness and ability to impose tariffs under alternative legal authorities. #economy #tariffs #markets
First‑Round Knockout: YTD Dominance Over Competitors
CHART OF THE DAY: This Is A First Round Knockout, YTD We Are Crushing The Competition https://t.co/ohQwlRHqY4 via @hedgeye
Adjusted Q4 GDP Shows Stronger Growth, Q1 Rebound Expected
Real GDP rose at a 1.4% annual rate in Q4. But the "truth" is better because shutdown-induced real Federal spending cut subtracted 1.15pp. Expect much of that to be added back in Q1. Consumer spending (+2.4%) and business fixed investment (+3.7%)...
US Stock Market Cap Only 12% of $7.7T
"...$7.7 trillion ain’t what it used to be: Compared with the combined market capitalization of stocks on the New York Stock Exchange and Nasdaq, he points out that it’s on the low side, at about 12%." @Spencerjakab https://t.co/dd4PRJs203 https://t.co/f2BPA4Qw7V
Core PCE Inflation Ends Year Elevated, Near 3%
A strong finish to the year for core PCE inflation. And not "strong" in a good way. Annual growth rates. 1 month: 4.3% 3 months: 3.1% 6 months: 2.9% 12 months: 3.0%
Core PCE Near Target; Fed Cuts Still Unlikely
Q4/Q4 core PCE inflation was 2.9% last year (vs. 3.0% in 2024). Trump's statement on the GDP report includes a parenthetical jab at the Fed chair, but there's not much of anything in this report that tells the Fed it...
2025 GDP Volatile, PDFP Shows Steady Growth
Did 2025 feel like a wild ride? GDP feels your pain. The quarterly swings were big and short-lived. PDFP, which focuses on consumption and private fixed investment, showed more even, solid gains. https://t.co/LlVwQ7yna5
US Underlying Domestic Demand Grew 2.4% in Q4
US GDP: A gauge of underlying domestic demand—real final sales to private domestic purchasers (GDP less inventory change, net exports, and government spending)—grew at a 2.4% annualized rate in Q4 https://t.co/XefZvVp18v
Current Feb Mirrors Century‑Long SPY Performance Trends
$SPX.X $SPY Feb performance by day 100 years overlaid on MTD action of SPY https://t.co/x1W4uABOCj
Balanced OPEX Shows No Clear Call or Put Dominance
This OPEX is a fairly standard size OPEX, with about $600 bn on delta expiring. That's ~1/2 of a quarterly OPEX. You can see that calls and puts are relatively equal in size (right side), which makes sense based off...
Short the Rips, Buy the Dips: Grinder’s Strategy
Grinder on the short side of the Indices for several months. Short the rips, buy the dips... for now, Bill. @DougKass
Trump’s 5.4% GDP Claim Was Just a Model
Remember when Trump was bragging about Q4 GDP growth, quoting a 5.4% rate? That was the Atlanta Fed's GDPNow model, not the actual. Now we have the actual: 1.4%. Moral: Don't take GDP "trackers" or anyone citing them, remotely seriously....
VWAP Highlights Week-Long Choppiness Across Major Indices
The 🔵WTD ⚓️VWAP tells the story of the choppy week in $ES_F $SPY $NQ_F $QQQ https://t.co/ihrFlZV1FZ