A quick, free briefing from The Daily Ledger newsroom:

1. Rate expectations are shifting — traders are repricing the odds of near-term cuts as fresh data comes in. Watch bond yields for the next signal, not just headlines.

2. Earnings season is separating winners fast — companies beating on margins (not just revenue) are getting rewarded disproportionately. Margin commentary in earnings calls is this quarter's tell.

3. Tech capex is the story under the story — infrastructure spending announcements are quietly becoming the biggest swing factor in forward guidance across the sector.

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