Software Sits Out Of The Rally… And Inflation Data Impact On Next Fed Decision 4/9/26

Fast Money delivers a dynamic analysis of a market rally fueled by ceasefire hopes in the Middle East, with the S&P 500 and NASDAQ both on seven-day win streaks. The episode opens with a deep dive into the software sector, which is underperforming amid fears that AI will disrupt traditional enterprise software models. Names like CrowdStrike, Microsoft, and Palantir are seeing sharp declines, with the IGV ETF hitting new lows and underperforming the S&P 500 by 40% over the past year. Analysts debate whether this sell-off is overdone, with some arguing that AI could actually boost cybersecurity demand through enhanced agentic systems. Meanwhile, Intel emerges as a surprising bright spot, logging its longest win streak since 2023, driven by a major expanded chip partnership with Google and improved manufacturing progress. The episode also covers Amazon’s aggressive AI spending, with CEO Adam Jassy signaling $200 billion in capital investment and AWS revenues surging to $15 billion in Q1—260 times higher than at a comparable stage in its history. On the macro front, inflation data and oil prices are in focus, with the CPI report due the next day. Gold is seen as a potential beneficiary of geopolitical uncertainty, though it remains down 8% from war’s onset. The dollar is weakening, and CFOs surveyed by CNBC express cautious optimism, with only 12% expecting the Dow to hit new highs and 16% anticipating a drop to 52-week lows. Disney’s new CEO is making early cost-cutting moves, including layoffs, as the company restructures its media and streaming operations. The episode closes with a mix of cautious optimism and volatility warnings, as market participants weigh AI disruption, geopolitical risk, and central bank policy.