Inside the ICE House Market Storylines: Government Shutdown Ends, Crypto Falls + AI Euphoria Fades
Nov 14, 2025
Michael Reinking dives into the market aftermath of a government shutdown and the fading hype around AI stocks. With volatility rising, investors are swaying towards established large caps after bubble warnings surfaced in the tech space. The crypto market continues to show weakness, further signaling cautious sentiment. As we await key earnings and economic indicators, discussions about the parallels between the current AI boom and past market cycles add intriguing context to the evolving landscape.
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Shutdown Ends But Data Remains Sloppy
- The government shutdown ended after 43 days but its effects will linger across data collection and agencies.
- Markets became more reliant on private data while official statistics remain delayed and messy.
Private Jobs Data Shows Cooling
- ADP's weekly jobs data showed a slowdown with employers shedding about 11,000 jobs per week in late October.
- This pushed yields modestly lower but Fed commentary has limited expectations for aggressive rate cuts.
AI Euphoria Faces A Reality Check
- AI deal announcements lifted stocks then desensitized markets as rallies got smaller and financing concerns emerged.
- Warnings from CEOs and hedge fund activity triggered unwind and increased debate over an AI bubble.
