WS #7293

The dominant signal in this window is the massive debut of Cerebras Systems (CBRS), with shares indicated to open at $345-$350, nearly double the $185 IPO price, implying a first-day pop of ~86-89%. This is corroborated by multiple sources (Reuters, TechCrunch, Alpaca News, Polymarket trades) and represents a major AI IPO event that could pull capital from other AI/semiconductor names (NVDA, MRVL, AMD) as Jim Cramer noted. The IPO raised $5.5B at a $56.4B valuation. Separately, Trump announced China agreed to purchase 200 Boeing jets, a significant thaw in a market that has largely shut out Boeing for years, though BA shares remain down ~5% on the day. UK political turmoil is escalating: Health Secretary Wes Streeting resigned, Labour MP Josh Simons stepped down to allow Andy Burnham to run for a by-election, positioning Burnham as a potential leadership challenger to PM Starmer. This is a fast-moving political crisis with implications for UK-focused equities and GBP. On the macro front, LC Macro's Buttiglione warned inflation pass-through raises risk of central bank pivot, which could pressure growth stocks. The S&P 500 is +10.2% YTD, but the Cerebras IPO and UK political drama are the key near-term catalysts.