Wall Street Has Never Faced This Many Market Forces at Once, NYSE Veteran Says

Oil above $100, two wars, a split Federal Reserve, and doubts over AI spending are hitting stocks at once. Veteran New York Stock Exchange (NYSE) floor trader Peter Tuchman says he cannot tell which force will move the market next. The S&P 500 fell 1.8% on Friday, and CME FedWatch priced 72% odds of a December rate hike, which would make borrowing costlier for listed companies. Which Forces Are Pulling on Wall Street at the Same Time? Tuchman ran through the list. He named oil, interest rates, the US confrontation with Iran, and the Russia-Ukraine war , which he said has returned to a heightened level of aggression. He added AI spending, a trade he said has split into subsectors, from hyperscalers, the largest cloud computing companies, to data-center builders.

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