---
title: "The Shit To Know Thursdays"
url: "https://www.readplaza.com/articles/l5eGvUjMR4m"
type: "article"
publisher: "VHLA"
published: "2026-09-18T03:00:00+00:00"
updated: "2026-09-23T05:29:32.548727+00:00"
reading_time_minutes: 4
tags: ["Gold"]
---

# The Shit To Know Thursdays
_Soft CPI & PPI, S&P 7,800, Gold's Good (Again)_

In partnership with 

People who caught the Thursday Bottom

Alright patriots, one more session before the weekend. Lock In.

 So, we saw nothing but death destruction and anticipation leading into Wednesday. 

 Warsh dropped his nuts on the table and hiked 25bps- only the market couldn’t get enough of it. 

 Today everything pumped, all four indexes rose, yields dropped, dollar jumped. Best day in six weeks. 

 What you’re not ready for? Japan might fuck us tonight…. 

The Session

Market Indices & CommoditiesINDICIES / ASSETLASTCHGDAYS&P 500
Best day in six weeks7,640.82+88.57+1.17%Nasdaq
Chip gauge up 3%26,396.68+418.25+1.61%Dow Jones
Clawing back Wednesday's 631pt drop51,817.40+355.50+0.69%S&P/TSX
Gold and materials +3.6%35,870.83+379.56+1.07%TSX Venture
All 12 subgroups green917.82+21.80+2.40%Brent Crude
Saudi East-West pipeline restarting$104.90-1.06-1.00%WTI Crude
Still triple digits$102.00-0.51-0.50%Gold
Bid through the hike$4,407.60+20.10+0.46%US 10Y
Snapped an 8-day rising streak5.01%-3 bp-3Fed Funds
16 of 18 dots see one more in 20263.75-4.00%+25 bpHikedRates

Warsh is a WarriorEssentially that walk off

 Quarter point Wednesday, unanimous 12-0, target range now 3.75% to 4.00%. First hike in over three years.

 The dots matter more than the move. Sixteen of eighteen policymakers see at least one more before year end. Warsh refused to promise anything at the presser, which is his whole thing now. No guidance, data dependent, see you in December. 

 The 10Y finally retreated after breaching 5% for the first time since ‘07. Capital has a price again.

Markets

Musk’s Playing Both Sides WSJ reported Wednesday that Zuckerberg, Huang and Musk each called Trump last month to kill a proposed AI oversight body. Demis Hassabis had floated a FINRA-style outfit, industry-funded, testing frontier models before deployment. Trump dropped it. 

 Funny, because Musk spent years as the loudest voice on AI risk. A few weeks ago he publicly backed Dario Amodei's call to slow frontier development and posted that Dario is right. Then he got on the phone and lined up with Jensen and Zuck, the two guys least interested in slowing down anything. 

 His stated objection is that a Hassabis-built regulator hands the rulebook to OpenAI, Anthropic and Google. Real argument. It also leaves SpaceXAI free to run, and unlike those two, SpaceXAI has published nothing on pacing its own models. 

 Brakes on the industry, throttle on himself. Safety is a position. Compute is a business.

Macro

Canada’s Getting Squeezed Fresh US tariffs landed, Ottawa responded by streamlining energy project approvals and turning to Europe.  

 Very Canadian. Take a shot to the ribs, announce you’re looking for new friends 

 Problem is, the US has a little thing called the Monroe Doctrine, Trump’s already threatened to cut off trade with the US. 

 Loonie at 71.70 cents US, up in the air now as to where it lands… either way Canada’s gonna need some good luck. 

Alpha

We’re Watching Tesla  Around $336.87 recently. High of $498.83 in June, low of $297.38 in late July. 

 A third off the high while the AI story gets louder every week, which tells you the market hasn’t bought it. 

 Capex guide north of $25B this year, backstopped by up to $30B in new debt. At a 4% funds rate that debt is a line item with teeth.

 Cybercab launched in Austin September 3, Musk didn’t show, stock fell 6% the next day, NHTSA opened an audit query. 

 The $1T pay package needs an $8.5T market cap to fully vest, roughly seven times where it sits, but we know Musk hasn’t failed the goals the market once called crazy.

The trade lives in the gap between Tesla the car company and Tesla the AI company, and how long the market funds that gap at 4% money. 

 Watching. Not chasing. 

Looking Ahead

What to WatchFriday, Aug 14, 8:30 AM ET  July retail sales, the consumer read after two soft inflation prints 

Friday, Aug 14, 10:00 AM ET  Michigan consumer sentiment, preliminary August 

Tonight after close  $AMAT fiscal Q3, the chip-equipment verdict on AI capex 

Aug 26  $NVDA earnings, the main event 

Sept 15-16  FOMC meeting, hold odds now in the driver's seat 

Join Aaron Levie for a fireside on AI transformation at Pioneer Aaron Levie is joining the speaker lineup at Pioneer, the summit where CX leaders redefine what's possible. 

 Aaron is an entrepreneur, investor, Co-founder and CEO of Box, and one of the most influential voices on AI transformation. 

 He’ll join Eoghan McCabe, Fin's Co-founder and CEO, for a fireside chat on leading their companies through the biggest technology shift in history. They’ll get into the key decision points in their journeys, the challenges they faced and how they navigated through them. 

Join Aaron and CX leaders from Anthropic, Clay, Kalshi, Gamma, and more for a day of industry-shaping discussion on the future of customer experience. 

Reserve your spot

Thank You

That’s all Folks Just one more fucking day, I can smell it…