Here we go again...
- US launched another round of strikes on Iran.
- Chip stocks showed weak buying conviction. $SOXX finished only +0.6% after rallying nearly 3% intraday.
- Alphabet earnings are the next major catalyst with AI capex guidance expected to be the next major catalyst for the broader technology sector.
- $IREN surged 19.57%, its biggest single-day gain since November 2024, after raising its 2026 recurring revenue target above $4 billion and signing a new $2.8 billion customer contract.
- Interestingly, while money rotated out of US AI names, Chinese internet stocks were among the few areas attracting buyers.