Sid Verma
@_SidVerma
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Global markets editor @markets. Formerly @euromoney @FT. Opinions are my own. I'm not David Baddiel. [email protected]
NYC
Joined January 2011
Incredible resilience in US stock futures to all the tariff threats. The great desensitisation of Wall Street continues
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AI can't actually do logic or reason, and yet it's still better at your job than you.
BREAKING: Apple just proved AI "reasoning" models like Claude, DeepSeek-R1, and o3-mini don't actually reason at all. They just memorize patterns really well. Here's what Apple discovered:. (hint: we're not as close to AGI as the hype suggests)
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One day, OnlyFans and Microstrategy will get into the S&P 500, owning the pension libs and reviving ESG and custom indexing.
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Today Trump appeared to announce that he’s not seeking formal trade deals after all, in the biggest head-scratcher yet, and it’s elicited comically little commentary because no one knows anything.
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I hate how stock markets have actually acted rationally since April. Front-running both the disruption of the modern trading order and now the apparent rollback. That might turn out to be wrong, but it's rational.
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RT @tracyalloway: Odd Lots makes it to @vulture’s top podcasts of 2025!.
vulture.com
If you really want to absorb something, immerse yourself in the wonkiest podcasts imaginable.
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Started using ChatGPT to make ever-niche on-the-fly Spotify playlists and now I can't stop.
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S&P 500 now down just 3.3% since just before Liberation Day. Turns out the biggest disruption to the trading order in modern history was priced in.
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Stocks now less than 11% off all-time highs -- highs that sparked fear and loathing about a tech-like bubble.
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Must have been a lot of presidential promises to not fire the head of the Fed
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In America during tax season, every individual uses a number to identity themselves- a number that holds the key to their financial, governmental, legal identity. Expect there is no way to verify it easily - it’s not biometric. And if someone steals it you are screwed. It’s wild.
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U.S. stock futures struggle to rally big open at the open after latest volley of confusing policy signals
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Oh.
Consumer electronics moving to sectoral tariffs may end up at a higher effective rate than under reciprocal tariffs because they are not country specific. 25% across the board would be net worse for consumers than 10%/wherever China lands since you can’t move production to 10%.
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I could be so wrong this: Wall Street still saw the 145% as a negotiating tool, and now there’s a policy communication crisis that means traders have no idea how to react to different headlines.
So on Friday it was a 145% tariff, then deemed to be excluded, but now it’s actually 20%, re-categorised, and will likely be more eventually? If so, then surely market still rips higher?.
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So on Friday it was a 145% tariff, then deemed to be excluded, but now it’s actually 20%, re-categorised, and will likely be more eventually? If so, then surely market still rips higher?.
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