Rally Broadens as Investors Abandon Chip

MPC Markets Morning Call · Oct 15, 2026 · 13m

The rally broadens as investors abandon chip stocks for a seventh straight session. Mark and Friday Phil cover a session that was green everywhere except semis — Nvidia -1.8%, Dell down ~22% in three days — while gold and silver miners, lithium, healthcare and software led the “great rotation” higher.

Also in today’s call: a hot US PPI print (+1.3% m/m vs +0.6% expected, ~6.3% y/y, hottest since March); the CoreWeave credit scare debunked (the 16% rate only applies to unsecured finance — weighted-average is ~8.3% — and Jensen Huang says rates are easing); why banks marketing Oracle CDS is…