Oct 19, 2026 · 6 min
AI stocks rally as steel gains and Ameriprise faces downgrade
Cleveland Cliffs Gains, Sandisk Rises, and Ameriprise Financial Drops After Being Downgraded at BofA
The episode connects market moves in steel, memory, storage and financial advice with the risks of speculation and changing economic conditions.
- 1Cleveland-Cliffs rallied after an earnings beat as tariff effects supported U.S. steel prices.
- 2SanDisk, Western Digital and other AI-linked memory and storage stocks posted sharp gains amid continued volatility.
- 3Bank of America downgraded Ameriprise Financial over concerns about advisor retention, while CoreWeave drew speculative options activity.
Don't miss
The CoreWeave discussion weighs a Goldman Sachs upgrade and speculative options activity against the danger of trying to call a bottom in a falling stock.
The brief
Cleveland-Cliffs rallied after an earnings beat, with stronger U.S. steel prices and tariff effects helping explain the move.
The discussion then shifts to sharp gains across AI-linked memory and storage stocks, including SanDisk and Western Digital, where momentum comes with pronounced volatility.
CoreWeave becomes the clearest test of speculative conviction: a Goldman Sachs upgrade and changing options activity collide with the risk of trying to call a bottom.
Ameriprise Financial faces a sharp Bank of America downgrade tied to concerns about advisor retention, offering a different kind of market pressure.
The episode closes with Jacob Greaves and guests examining how AI, innovation and long-term planning could help cities manage rapid urban growth.
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