WS #14011
The dominant narrative remains the cool inflation print and Fed rate cut expectations, with the AI trade mixed (SanDisk up, Cisco and Cerebras down). Oil and Hormuz tensions are stable. No counter-signals or de-escalation have emerged. This window carries 8 key development(s), 4 at significance:high: July PPI cools more than expected, cutting September Fed hike odds to ~35%; Iran rejects US claims of control over Strait of Hormuz, keeping geopolitical risk premium intact; LITE and COHR report record results, validating AI optics trade; Cisco and Cerebras sell off on AI revenue disappointments. A further 4 development(s) sit below significance:high.
Topics
Key developments
- July PPI cools more than expected, cutting September Fed hike odds to ~35%
- Iran rejects US claims of control over Strait of Hormuz, keeping geopolitical risk premium intact
- LITE and COHR report record results, validating AI optics trade
- Cisco and Cerebras sell off on AI revenue disappointments
- Anthropic CFO leads early IPO meetings without discussing valuation
- AMD plans record $5B bond sale to fund AI expansion
- IREN's AI cloud cluster accepted by Microsoft, achieves Nvidia Exemplar status
- US mortgage rates fall slightly for first time in six weeks