We can change the thread back to “stocks go up, and up, and up no matter what” - especially in light of things like this.
Announcements like Caterpillar scream “lower earnings” whether it’s companies eating the tariffs directly or passing on the costs to consumers who then revolt and halt spending / try to find alternate goods for cheaper. Then, extrapolate that across every company saying the same things CAT is. But, that doesn’t matter because somehow AI is going to save everything and produce everything.
The only thing keeping the markets up right now are the ~7 AI-based stocks, which are predicated on the notion that by 2030 pure CapEx on AI is going to be $3 trillion, and when you add in the knock-on spending around it the total will be somewhere around $5 trillion, not including likely higher energy costs associated with running 10,000 data centers around the U.S. to produce a smorgasboard of shit.