Editorial companion

What stands out

Bloomberg’s morning segment captures a sharp market split: Alphabet’s sales miss knocked shares hard as AI growth worries re-emerged while Microsoft kept outperforming on Azure strength, and Caterpillar slid amid questions about data-center capital spending. The show strings together corporate results, data-center capex talk and central-bank headlines into a single narrative about whether AI spending is a durable boom or a cyclical blip. The most striking moment is how quickly AI anxiety traveled from Big Tech to an industrial bellwether, suggesting investors are watching capex signals, not just model demos.