AI vs. Rates, Rufus Rules & No Bottom for Bitcoin 12/3/25

单集文稿 ...

• 00:00

  You're listening to The Exchange.

• 00:02

  Here's today's show.

• 00:06

  Thank you very much, Dom.

• 00:08

  So what matters more to the markets, I think we're finding out today,

• 00:10

  whether it's AI or lower rates or maybe a little bit of both, welcome to the exchange.

• 00:15

  I'm Kelly Evans and stocks are mostly higher right now.

• 00:18

  The Dow is still up three quarters of a percent,

• 00:19

  so it's actually leading the way today as the NASDAQ has been under pressure following these Microsoft headlines.

• 00:25

  Now the company this hour is pushing back on the report that they're lowering their sales quotas for AI products.

• 00:31

  We'll get into it, some nuance here.

• 00:33

  By the way, Microsoft shares off the lows down 1.4%.

• 00:36

  Here we go as well.

• 00:37

  Big miss on the jobs fraud with the private sector shedding the most since March of 2023.

• 00:43

  ADP tells us this morning most of these cuts also coming from small businesses.

• 00:47

  Probabilities for a rate cut flip side of this coin right now they're at 85% so pretty much a slam dunk guarantee.

• 00:53

  This also has the 10 year falling below 4.1% today.

• 00:56

  Keep an eye on what's been going on meantime in the metal complex.

• 01:01

  Some are calling it a bit of a supply squeeze,

• 01:03

  but typically it's a good sign when copper is breaking out,

• 01:06

  which is up 3% today to right around all-time highs.

• 全部文稿