WS #13119
No material new developments in the last 30 minutes. The dominant AI-driven tech rally narrative remains ESCALATING, with Amazon and Microsoft strength continuing to drive the semiconductor-led rebound. Apple remains the MAG7 carve-out, down pre-market on Services miss and memory cost inflation. The Fed counter-signal (9-3 hold, Kashkari citing data center inflation) persists. US-Iran conflict is STABLE-to-ESCALATING with no new de-escalation. Oil prices remain elevated. No new counter-signals or non-dominant-narrative developments surfaced in this window.
Topics
Key developments
- Amazon Q2 blowout: AWS +37% YoY, capex raised to $220B, shares +10.5% premarket
- Apple drops 7.4% premarket on weak guidance, Services miss, and memory cost inflation
- Microsoft surges 16% on Azure +43%, adding ~$450B market cap, best day since 2008
- Iran strikes two tankers under US escort in Hormuz; Brent rises above $90
- Fed holds rates 9-3 with three dissents favoring hikes; ECI hot at +0.9%
- Kioxia's weak outlook signals memory price moderation, contradicting AI-driven memory rally
- Bitcoin ETF flows flip positive with $203M net inflows, but BTC remains weak near $63.7K
- Exxon Mobil Q2 profit doubles to $14.53B but misses estimates on refinery maintenance