RESEARCHOpen ThesisMemo ↗THESISMEMO RESEARCH
All research articles
Company developments, market context and practical research guides.
Market breadth: how to tell whether a rally is broadening
An index can rise while many stocks struggle. Use participation, equal-weight returns and sector leadership to test what sits beneath the headline.
Read article ↗Market framework · 2026-09-07Growth versus value: how to read a change in market leadership
Relative performance is a starting point. Earnings, valuations and index composition help explain whether a rotation has substance.
Read article ↗Market framework · 2026-09-07Reading the VIX: what volatility can—and cannot—tell you about risk
The VIX measures an options-implied expectation, not the direction of the market. Use it with other evidence before drawing a conclusion.
Read article ↗Daily Macro · 2026-09-06162,000 jobs: resilience is not a rate decision
August payrolls improved, but employment composition and inflation still matter for the policy response.
Read article ↗Daily Macro · 2026-09-06The Fed’s next decision runs through inflation
Waller left both a hold and a hike on the table. The condition matters more than the headline.
Read article ↗Daily Macro · 2026-09-06July PCE inflation: monthly pace versus annual pressure
The pace and the level tell different stories. Neither should be read in isolation.
Read article ↗Daily Macro · 2026-09-06Spending rose; purchasing volume barely moved
Nominal sales are not the same as real demand. The distinction matters for earnings.
Read article ↗Daily Macro · 2026-09-06Job openings need to turn into actual hiring
Vacancies, hires and quits describe different parts of the labor market. Watch the conversion.
Read article ↗Daily Macro · 2026-09-06PPI, then CPI: two tests before the Fed
September 10–11 brings producer and consumer inflation. Prepare scenarios, not predictions.
Read article ↗Commodity Research · 2026-09-06Gold: the dollar, yields and safety can disagree
A haven narrative alone is incomplete. Track the opportunity cost of holding gold too.
Read article ↗Commodity Research · 2026-09-06Oil risk needs a physical supply test
Separate a risk premium from barrels actually lost. Inventories and spare capacity change the outcome.
Read article ↗Commodity Research · 2026-09-06Gas storage: a national build hides regional draws
The latest storage increase was not uniform. Regional balances deserve a closer look.
Read article ↗Commodity Research · 2026-09-06Copper’s demand story is bigger than one theme
Power infrastructure matters, but so do construction, manufacturing and recycled supply.
Read article ↗Commodity Research · 2026-09-06Silver is not simply a smaller gold trade
Industrial demand and investment demand create different sensitivities to the same macro news.
Read article ↗Commodity Research · 2026-09-06WASDE: yields matter, but ending stocks decide the balance
The September crop update is ahead. Read supply and demand revisions together.
Read article ↗US Stock Academy · 2026-09-06Read an earnings release
A practical sequence for comparing results, guidance and the expectations already in the share price.
Read article ↗US Stock Academy · 2026-09-06Build a testable investment thesis
Turn a company story into a set of claims you can check—and change when the evidence changes.
Read article ↗US Stock Academy · 2026-09-06Interpret sector breadth
Understand what participation measures tell you—and why sector ETF breadth is not stock breadth.
Read article ↗US Stock Academy · 2026-09-06Separate growth from cash generation
Follow revenue through working capital and investment to see whether growth is producing cash.
Read article ↗US Stock Academy · 2026-09-06Understand market, limit and stop orders
Learn the trade-off between execution certainty and price control before placing an order.
Read article ↗US Stock Academy · 2026-09-06Understand diversification and position sizing
Look through the number of holdings to the risks that can move them together.
Read article ↗US Stock Academy · 2026-09-06US stock market hours: daylight saving, holidays and local time
Know when the regular session opens, and check the calendar before placing an order.
Read article ↗US Stock Academy · 2026-09-06Premarket and after-hours trading: orders, liquidity and risks
Understand why a trade outside the regular session can behave differently.
Read article ↗US Stock Academy · 2026-09-06How to choose a US stock broker: regulation, fees and account security
Compare the legal entity and total service—not just a familiar app or a zero-commission headline.
Read article ↗US Stock Academy · 2026-09-06How to buy US stocks: account setup, funding and your first order
A beginner’s checklist from verifying an account to reviewing a completed trade.
Read article ↗US Stock Academy · 2026-09-0610 common US stock investing mistakes—and a checklist to avoid them
Check your evidence, exposure and execution before a small oversight becomes a larger problem.
Read article ↗Cloud & Software · 2026-09-05Microsoft’s AI growth is clear. The next test is cash returns.
Azure and Copilot offer two routes to AI monetization. Microsoft’s June-quarter results show why infrastructure spending, renewals and cash conversion belong in the same investment thesis.
Read article ↗Cloud & Platforms · 2026-09-05Google Cloud is accelerating—but Search still anchors Alphabet’s AI thesis
Alphabet’s June-quarter results connect rapid cloud growth with a resilient search business. Can both fund AI expansion while improving the economics for each shareholder?
Read article ↗Semiconductors · 2026-09-03Broadcom’s AI revenue jumped 221%—so why did the outlook still disappoint?
Broadcom reported $16.7 billion of quarterly AI semiconductor revenue and guided to $21.7 billion next quarter. The premarket decline shows how quickly exceptional growth can become the minimum expectation.
Read article ↗AI Infrastructure · 2026-09-03Dell’s AI server demand is moving from neoclouds into the enterprise
Dell says more than 6,500 customers now buy its AI Factory portfolio, with enterprise and repeat-customer activity accelerating. The debate is shifting from orders to mix, supply and cash conversion.
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