10AM Hour: AI Trade Faces More Pain, Interactive Broker’s Thomas Peterffy, Citizen Financial CEO on Earnings 10/16/26

AI capex (headed past $1 trillion) underpins US growth, but financing strain, politics, and circularity concerns are raising real bust-risk questions.

• Fed and CapEx data turn bullish on AI buildout: Beige Book notes from Atlanta/Philadelphia Fed cite sustained AI-driven utility and manufacturing demand; Bank of America's Savita Subramanian projects AI-related capex exceeding $1 trillion, with Gartner seeing $7 trillion by 2030.
• Fink warns of recession risk from AI backlash: BlackRock's Larry Fink says a data-center moratorium driven by political backlash would trigger recession, calling water-use fears 'misinformation,' and flags work on a GPU/chip securitization market.

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