Nobody wants to bet on hyperscalers and inference. They want to bet on the pickaxes. Let that be a warning.
Mohamed El-Erian said there are risks of a near-term "air pocket" for stocks as investors shift their focus to monetizing AI.
Opinion

Market View

Metals and machinery orders are rising, suggesting manufacturing growth, this economist says. Plus, investment newsletter commentary on earnings growth, real estate bargains, and Fed task forces.