Oracle credit default swaps climbed to fresh multi year highs in late July on AI debt worries.
Meta shares dropped hard after the company raised its AI spending floor.
Microsoft posted the largest one day market value gain on record after showing real Azure growth.
Buffett Indicator readings stayed elevated near all time highs through July.
Hyperscaler debt yields and insurance costs kept rising across the board.
The market flipped the AI trade. Spending is now punished. Discipline is rewarded.
S&P 500 earnings jumped 29% last quarter, among the best on record. The index has gone nowhere since mid-July anyway, dragged down by how traders reacted to big tech's capex plans.
Microsoft held… pic.twitter.com/etmkUWg9se
— Kurt S. Altrichter, CRPS® (@kurtsaltrichter) August 3, 2026
Oracle currently has a higher risk of default than Lehman Brothers or Oracle itself had during the GFC. pic.twitter.com/EBmVXf9tar
— Data Driven Stocks (@stockdatamarket) August 3, 2026
Stock Market reaches most expensive valuation in history after the Warren Buffett Indicator hits 241%, surpassing the Dot Com Bubble, the Global Financial Crisis, and the 2022 Bear Market 🤯 👀 pic.twitter.com/Da3WEKoJUY
— Barchart (@Barchart) August 3, 2026