AI infrastructure spending accelerates as strong earnings and surging demand support the next phase of the buildout. Plus, private credit and new financing structures are helping fund massive capital needs across AI and space. Later, rising leverage, inflation risks and Fed uncertainty raise questions about how long the investment boom can continue.<br><br>Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

AI investment and leverage risks shape the market outlook 8/12/26

Morning Call

AI Rally back on. I'm Morgan Brennan and this is your Morning Call. Good Wednesday morning. Let's get a check on U.S. stock futures with the Dow coming off of back-to-back losing sessions and actually losing start to the week. We're attempting to reverse some of that here pre-market. A bit of a mixed picture. The Dow down 33 points. The S&P poised forever so slight gains to indicated to open up five points right now. The Nasdaq 154 points. Well, ahead of today's July CPI report, which is going to be one of those key catalysts here.

For markets. Let's get a check on what we're seeing in the bond market yields. Taking a little bit of a breather this morning. U.S. 10-year Treasury yielding 4.68 percent. Fed-sensitive two-year Treasury 4.2 percent. And let's get a check on the longer end of the curve. The 30-year Treasury yielding 5.23 percent after touching a 19-year high, more than 19-year high in trading yesterday.

Metals and gold. Silver as well. Trading at two-month highs as that precious metals rally continues here. Pre-market. Gold's up another half percent. 44.61 an ounce. And silver up 2 percent right now. Trading around $66.

Let's get a check on crypto, too. With Bitcoin. Okay. And let's get a check on energy as well. So we see energy prices, oil prices higher this morning. WTI is up about half percent. 83.83. 56 cents a barrel. And Brent up 4.10 to 1 percent. Trading around $89 a barrel. The IEA out with its latest monthly oil report in the last hour, forecasting that global oil inventories will sink this quarter.

AI investment and leverage risks shape the market outlook 8/12/26

Read the full transcript

The candid version is on a podcast,
not the earnings call.

AI investment and leverage risks shape the market outlook 8/12/26

Read the full transcript

The candid version is on a podcast, not the earnings call.

The candid version is on a podcast,
not the earnings call.