WS #13133

The dominant theme is a sharp rebound in AI/semiconductor stocks following Microsoft's blowout earnings (Azure +43%, stock +15.5%), which has triggered a record KOSPI rally (+17.91%, SK Hynix +29.95%, Samsung +26.81%) and lifted global tech. This directly counters the prior AI-selloff narrative and validates AI capex, corroborated across multiple sources (GDELT, Investing.com, Benzinga). Amazon (AMZN) continues its post-earnings surge (+13-14%), with analysts raising targets (DZ Bank to $335, Benchmark $400), reinforcing the AI infrastructure bull case. Apple (AAPL) remains under pressure (-9%) on supply-chain constraints (memory chip shortage, '100-year flood') and services miss, with Tim Cook confirming AI compute costs will be passed to consumers via iCloud+ subscriptions—a new monetization signal. The US-Iran conflict is ESCALATING: IRGC claims it struck two tankers in the Strait of Hormuz, Trump says war 'going well', and oil prices remain elevated (Brent ~$88.6, WTI ~$85.9), though a Saudi-led 43-country maritime defense coalition and Chevron's CPC pipeline flowing act as counter-signals. Eurozone CPI rose to 2.9% (energy +10%), reinforcing hawkish ECB expectations (DWS sees September hike to 2.50%). Fed internal dissent is notable: three FOMC members (Hammack, Kashkari, Logan) dissented against holding rates, signaling hawkish pressure. Reddit (RDDT) plunges on record on Google AI search threat, while Coinbase (COIN) falls 13.9% on Q2 miss. The 'Leopold Low' narrative (Situational Awareness fund collapse) is being cited as a potential bottom for AI stocks, with Citadel buying the portfolio—a counter-signal to the AI selloff.