DHUnplugged #812: Rollercoaster Ride

- OOFAH - Microsoft, Apple and Amazon earnings and stock moves.

- Hackathon disguised.

- KOSPI wild ride wrecks portfolios.

- Oil moved up on War - now no War again...

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Follow John C. Dvorak on Twitter Follow Andrew Horowitz on Twitter Warm-Up - Some bad days and some good days - AH is walking - and driving - We have to talk about Free Cash Flow changes

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Markets - OOFAH - Microsoft, Apple and Amazon earnings and stock moves. - META too - KOSPI wild ride wrecks portfolios - Oil moved up on War - now no War again

DO WE TALK ABOUT MORE AI HACKING - Latest stories of even more AI breach of containment - Is this really just a plan to gain regulation (to limit competition?)

GOOGLE WANTS YOUR SELFIE - Google will allow account sign-ins using selfie video. - The feature adds another way to verify identity. - It could reduce dependence on passwords and recovery codes. - The tradeoff is greater use of facial data. - Privacy, storage and security questions will follow.

SPACEX SHORT SELLERS CASH IN - Short sellers reportedly earned $15.5 billion as SpaceX shares fell. - The move rewarded investors betting against the company's valuation. - It shows how quickly enthusiasm can reverse at extreme prices. - SpaceX still has strong growth stories in launches and satellites. - The debate is whether too much future success was already priced in. --- Price hit $108 today before bouncing - major rug pull

CATHIE WOOD DOUBLES DOWN ON SPACEX - Cathie Wood called SpaceX potentially the most important company in history. - Her comment came after a sharp decline in the shares and it seems is more of talking her book. - Her case rests on launch, satellite and communications growth. - The problem is that losses are expected for the foreseeable future.

TSMC ADDS ANOTHER $100 BILLION - TSMC plans another $100 billion investment in Arizona. - Second-quarter profit surged 77%. - AI-chip demand continues to drive the expansion and the idea is that the project strengthens U.S. semiconductor production. - It also adds labor, construction and execution risk. - The spending shows the scale of the AI infrastructure race. --- So far many of these promises have been a bit hallow

BOND YIELDS FEEL THE OIL SHOCK - The 10-year Treasury yield reached its highest level since January 2025. (4.7%) - Surging oil prices brought inflation fears back into the market. - Higher energy costs could delay Federal Reserve rate cuts. - Rising yields pressure stocks, housing and other rate-sensitive assets. - Oil is again influencing the entire interest-rate outlook. - 30-year is zooming higher and higher

CANADA GETS A 50% TARIFF - Trump imposed 50% tariffs on some Canadian goods. - The administration cited discrimination against U.S. companies. - The move could raise costs for manufacturers using Canadian inputs. - Canada could respond with tariffs of its own. - The fight adds more uncertainty to North American trade.

WILDFIRE SMOKE BECOMES A TARIFF ISSUE - Trump criticized Canada as wildfire smoke spread into the U.S. - He said pollution costs could be added to tariffs. - The idea links environmental damage directly to trade policy. - Canadian goods could face another unpredictable cost. - Companies may struggle to price a pollution-based tariff.

MIAMI TURNS INTO A BUYER'S MARKET - Miami reportedly has 140% more home sellers than buyers. - Buyers now have more