SPY reclaimed its 50-day average, but only 38% of the active watchlist clears the same line. This week tests whether participation catches up.
VICI raised guidance as its shares fell 3.02%; rates, funding costs and concentrated tenant exposure now put the valuation discount to a harder test.
VICI raised 2026 guidance, but tenant concentration, a 4.66% Treasury yield and the marginal cost of growth capital still define the valuation discount.
The S&P 500 is holding its intermediate trend, but Nasdaq weakness, rising rates, and 38% watchlist breadth keep the regime mixed.
WULF’s clearances matter, but the cash bridge to a second-half 2027 revenue start remains the central question.
WULF’s new clearances reduce development risk, while the 2027 revenue start leaves financing and operating proof unresolved.
JQC’s floating-rate loan income remains substantial, while two distribution reductions and limited credit detail keep durability unresolved.
JQC offers floating-rate loan income at an estimated discount, but repeated distribution reductions keep payout durability and credit quality unresolved.
TSMC’s margins and revenue remain strong, but the $60–64 billion capital program puts utilization and conversion at the center of the thesis.
TSMC’s operating record remains strong, but its $60–64 billion capital plan raises the hurdle for utilization, margins and returns through the N2 cycle.
