No Inflection Point Yet: Near-Exponential Data Center Boom Sends Shockwaves to Industrial Economy, Construction Hit by 2nd Wave of Inflation
Published . Updated .
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Directly affected
- No company is named in this report.
Indirectly affected
- TIP iShares TIPS Bond ETF-0.5% 30d
iShares TIPS Bond ETF: it is a common hedge when prices rise. Linked by “inflation” (inflation and prices) in this story.
- XLP Consumer Staples Select Sector SPDR-4.0% 16d
Consumer Staples Select Sector SPDR: it is a common hedge when prices rise. Linked by “inflation” (inflation and prices) in this story.
- QQQ Invesco QQQ-2.6% 30d
Invesco QQQ: it holds the big tech and AI names. Linked by “data center” (AI and big tech) in this story.
- XLF Financial Select Sector SPDR-3.5% 30d
Financial Select Sector SPDR: it holds banks. Linked by “banks” (banks) in this story.
- EWC iShares MSCI Canada ETF+0.3% 30d
iShares MSCI Canada ETF holds stocks listed in Canada, which this story is about (“canada”).
- VGK Vanguard FTSE Europe ETF
Vanguard FTSE Europe ETF holds stocks listed in Europe, which this story is about (“europe”).
- BWX SPDR Bloomberg International Treasury Bond ETF
SPDR Bloomberg International Treasury Bond ETF holds government bonds outside the US, which react to inflation and interest-rate news like this one in Canada
- EFA iShares MSCI EAFE ETF-2.2% 11d
iShares MSCI EAFE ETF is a broad fund of developed-market stocks that includes Canada
Price reaction, T-5 to T+3
| Ticker | T-5 | T-3 | T-1 | T0 | T+1 | T+2 | T+3 |
|---|---|---|---|---|---|---|---|
| TIPNo price data for this ticker | — | — | — | — | — | — | — |
| XLPNo price data for this ticker | — | — | — | — | — | — | — |
| QQQNo price data for this ticker | — | — | — | — | — | — | — |
| XLF | -0.87% | -0.73% | base | +1.79% | after close | after close | after close |
| EWCNo price data for this ticker | — | — | — | — | — | — | — |
| VGKNo price data for this ticker | — | — | — | — | — | — | — |
| BWXNo price data for this ticker | — | — | — | — | — | — | — |
| EFANo price data for this ticker | — | — | — | — | — | — | — |
Closing-price change versus T-1, the last close before the story. T0 to T+3 fill in after each market close. Prices: Alpaca IEX.
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No Inflection Point Yet: Near-Exponential Data Center Boom Sends Shockwaves to Industrial Economy, Construction Hit by 2nd Wave of Inflation Wolf Street
Source: Wolf Street
Price since this story was published: Invesco Qqq Trust, Series 1 (QQQ)
| Company | When | Move | Status |
|---|---|---|---|
| XLF | that day | +1.79% | final price |
| XLF | three days earlier | -0.73% | final price |
| XLF | five days earlier | -0.87% | final price |
Congressional trades in the stocks in this story
- Sen. John Boozman sold EFA (jointly held), worth $1,001 - $15,000 on 9 Sep 2026. That is 54 days before publication. Filed 21 Oct 2026. View the filing.
- Rep. Pete Sessions sold Alphabet (GOOGL), worth $15,001 - $50,000 on 14 Sep 2026. That is 49 days before publication. Filed 18 Sep 2026. View the filing.
- Rep. Rohit Khanna sold Alphabet (GOOGL) (held by a spouse), worth $1,001 - $15,000 on 4 Sep 2026. That is 59 days before publication. Filed 7 Oct 2026. View the filing.
- Rep. Thomas H. Kean Jr sold Alphabet (GOOGL), worth $1,001 - $15,000 on 27 Aug 2026. That is 67 days before publication. Filed 12 Sep 2026. View the filing.
- Rep. Pete Sessions sold Microsoft (MSFT) (held by a spouse), worth $250,001 - $500,000 on 2 Oct 2026. That is 31 days before publication. Filed 27 Oct 2026. View the filing.
- Rep. Lisa McClain bought Microsoft (MSFT) (held by a spouse), worth $1,001 - $15,000 on 30 Sep 2026. That is 33 days before publication. Filed 12 Oct 2026. View the filing.
- Rep. Michael Rulli sold Microsoft (MSFT), worth $1,001 - $15,000 on 28 Sep 2026. That is 35 days before publication. Filed 2 Oct 2026. View the filing.
- Rep. Pete Sessions sold Walmart (WMT) (held by a spouse), worth $50,001 - $100,000 on 2 Oct 2026. That is 31 days before publication. Filed 27 Oct 2026. View the filing.
- Rep. Jonathan Jackson sold Walmart (WMT) (jointly held), worth $50,001 - $100,000 on 28 Sep 2026. That is 35 days before publication. Filed 19 Oct 2026. View the filing.
- Rep. Rohit Khanna bought Walmart (WMT) (held by a spouse), worth $1,001 - $15,000 on 25 Sep 2026. That is 38 days before publication. Filed 7 Oct 2026. View the filing.
- Rep. Pete Sessions sold Costco Wholesale (COST), worth $100,001 - $250,000 on 13 Oct 2026. That is 20 days before publication. Filed 27 Oct 2026. View the filing.
- Rep. Pete Sessions sold Costco Wholesale (COST) (held by a spouse), worth $250,001 - $500,000 on 2 Oct 2026. That is 31 days before publication. Filed 27 Oct 2026. View the filing.
Public disclosure filings, not a recommendation. The filing link is the source document. News use of these reports still sits under 5 U.S.C. § 13107(c).
Who gains and who loses around Invesco Qqq Trust, Series 1 (QQQ)
Companies mentioned with this story
- QQQ Invesco Qqq Trust, Series 1
Invesco Qqq Trust, Series 1 (QQQ) is linked, with no stored direction, medium confidence in the 2 Nov 2026 story “No Inflection Point Yet: Near-Exponential Data Center Boom Sends Shockwaves to Industrial Economy, Construction Hit by 2nd Wave of Inflation.” Reason on file: Invesco QQQ: it holds the big tech and AI names. Linked by “data center” (AI and big tech) in this story
- AIQ Global X Fds
For “No Inflection Point Yet: Near-Exponential Data Center Boom Sends Shockwaves to Industrial Economy, Construction Hit by 2nd Wave of Inflation,” Global X Fds (AIQ) is linked, with no stored direction, medium confidence. Reason on file: Global X Artificial Intelligence & Technology ETF: it holds the big tech and AI names. Linked by “data center” (AI and big tech) in this story
- TIP Ishares Tr
In “No Inflection Point Yet: Near-Exponential Data Center Boom Sends Shockwaves to Industrial Economy, Construction Hit by 2nd Wave of Inflation,” Ishares Tr (TIP) is linked, with no stored direction, medium confidence. Reason on file: iShares TIPS Bond ETF: it is a common hedge when prices rise. Linked by “inflation” (inflation and prices) in this story
- GOOGL Alphabet
Alphabet (GOOGL) is linked, with no stored direction, medium confidence in the 2 Nov 2026 story “No Inflection Point Yet: Near-Exponential Data Center Boom Sends Shockwaves to Industrial Economy, Construction Hit by 2nd Wave of Inflation.” Reason on file: Alphabet (computer programming, data processing, etc.): big tech's AI spending and demand drive its shares. Linked by “data center” (AI and big tech) in this story
- MSFT Microsoft
Microsoft (MSFT) is linked, with no stored direction, medium confidence in the 2 Nov 2026 story “No Inflection Point Yet: Near-Exponential Data Center Boom Sends Shockwaves to Industrial Economy, Construction Hit by 2nd Wave of Inflation.” Reason on file: Microsoft (prepackaged software): big tech's AI spending and demand drive its shares. Linked by “data center” (AI and big tech) in this story
- WMT Walmart
In “No Inflection Point Yet: Near-Exponential Data Center Boom Sends Shockwaves to Industrial Economy, Construction Hit by 2nd Wave of Inflation,” Walmart (WMT) is linked, with no stored direction, medium confidence. Reason on file: Walmart (variety stores): big consumer-goods sellers feel price rises in costs and shopper demand. Linked by “inflation” (inflation and prices) in this story
- COST Costco Wholesale
Costco Wholesale (COST) is linked, with no stored direction, medium confidence in the 2 Nov 2026 story “No Inflection Point Yet: Near-Exponential Data Center Boom Sends Shockwaves to Industrial Economy, Construction Hit by 2nd Wave of Inflation.” Reason on file: Costco Wholesale (variety stores): big consumer-goods sellers feel price rises in costs and shopper demand. Linked by “inflation” (inflation and prices) in this story
- AMZN Amazon Com
For “No Inflection Point Yet: Near-Exponential Data Center Boom Sends Shockwaves to Industrial Economy, Construction Hit by 2nd Wave of Inflation,” Amazon Com (AMZN) is linked, with no stored direction, medium confidence. Reason on file: Amazon.com (catalog and mail-order houses): big tech's AI spending and demand drive its shares. Linked by “data center” (AI and big tech) in this story
Invesco Qqq Trust, Series 1 (QQQ)
On 2 Nov 2026, “No Inflection Point Yet: Near-Exponential Data Center Boom Sends Shockwaves to Industrial Economy, Construction Hit by 2nd Wave of Inflation” is the story that connects Invesco Qqq Trust, Series 1 (QQQ) to this story.
Invesco Qqq Trust, Series 1 (QQQ) is on the page because Invesco QQQ: it holds the big tech and AI names. Linked by “data center” (AI and big tech) in this story
A second company, Global X Fds (AIQ), is listed for a different reason: Global X Artificial Intelligence & Technology ETF: it holds the big tech and AI names. Linked by “data center” (AI and big tech) in this story
Dates and price levels for Invesco Qqq Trust, Series 1 (QQQ)
AIQ traded between 61.70 and 67.40 across 14 sessions. The latest close on file is 62.94. QQQ traded between 683.47 and 762.84 across 20 sessions. The latest close on file is 690.51. TIP traded between 103.77 and 105.67 across 20 sessions. The latest close on file is 105.27.
How strong the case is around Invesco Qqq Trust, Series 1 (QQQ)
46 out of 100
“No Inflection Point Yet: Near-Exponential Data Center Boom Sends Shockwaves to Industrial Economy, Construction Hit by 2nd Wave of Inflation” scores 46 out of 100. The score uses 1 sources, and 8 linked companies.