Editorial companion

What stands out

Jason Katz's line, collapsed earnings kill bull markets, landed on Fox Business as yields rose and the mega-cap cohort felt the tug. That matters because Microsoft, Alphabet, Apple, and Amazon still move headline indices, yet they tell different stories: Alphabet and Microsoft show double-digit revenue and profit gains, Apple has a nearly flat top line despite a strong rally, and Amazon carries a wildly negative net-income print that won’t be papered over by PR. The clip crystallizes a simple risk: if earnings disappoint while rates climb, market leadership can reverse fast.