Morning Dose #370: Massive AI Costs Trigger Tech Selloff – Thursday 10/29/2026

Episode summary

Alphabet’s double-digit plunge on soaring AI capex and negative free cash flow is sinking Nasdaq futures, while Microsoft’s beat offers thin cover. With the Fed on hold, a December hike near-fully priced, and September PCE and Q3 GDP due at 8:30 ET, traders should stay selective and defensive in quality leaders insulated from the AI-valuation...