Goldman's 8,700 S&P target needs about 3% multiple expansion; ~19x forward is a 5.3% earnings yield vs a 5.12% 10-year

Apple hit $360.83 and $5.23T: up about $87B at the high, kept about $20B at the close while chips sold off

Apple ($AAPL) traded above $360 for the first time on Friday, hitting $360.83 and a market value of about $5.23 trillion while chip stocks like AMD and Broadcom…

After Waller, Logan and Williams all leaned hawkish this week, Treasury Secretary Scott Bessent went on CNBC today and pushed back.

After Waller, Logan and Williams all leaned hawkish this week, Treasury Secretary Scott Bessent went on CNBC today and pushed back. His line was "I'm not going to tell the Fed what to do. I am going to say they should have an open mind."

End-of-day recap

Chip stocks gave back part of this week's rotation trade on Nov 13 as Nvidia stabilized, while two earnings beats and a 5.15% 10-year yield set the…

Chip stocks gave back part of this week's rotation trade on Nov 13 as Nvidia stabilized, while two earnings beats and a 5.15% 10-year yield set the rest of the tape. Cerebras (CBRS) rose 11.22% to 108.72. Q3 core revenue grew 70%, the company raised its Q4 guidance above consensus, and it announced new hyperscaler cloud deals including Microsoft.

On September 14, 2008, AIG went to the Federal Reserve asking for a $40 billion bridge loan just to survive the week.

On September 14, 2008, AIG went to the Federal Reserve asking for a $40 billion bridge loan just to survive the week. Two days later, the Fed structured an $85 billion rescue instead. By the time Washington finished, the total support for one…