Oil cooled on ceasefire whispers, Snowflake officially cancelled the SaaSpocalypse, and now we're all staring at Broadcom to dictate the next rotation
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Morning brief: Peace talks faded, yields are hitting 2007 highs, and Marvell just slid on flawless earnings while we wait for PCE to tell us if our equity valuations still matter
Fading US-Iran peace talks and bond yields hitting their highest since 2007 have markets sliding ahead of today's critical PCE inflation data. IREN surged 13.5% after securing a massive $1.6 billion Nvidia Blackwell infrastructure deal from Dell, propelling its annualized revenue projection to $4.4 billion. Applied Digital jumped 8.5% after landing a game-changing $7.5 billion hyperscaler AI deal, pushing its total contracted revenue pipeline above $23 billion. Marvell posted record $2.4 billion Q1 revenue and raised AI data center guidance, but shares slid 4.6% on classic sell-the-news profit-taking. Watch today's PCE inflation report closely; a hot print could accelerate the bond yield spike and aggressively pressure stretched equity valuations.
Posture: Defensive. Yields are spiking ahead of critical PCE data. Minimizing portfolio churn and holding steady.
Tickers in focus: MRVL, SPY
Upcoming earnings
Evening brief: Oil cooled on ceasefire whispers, Snowflake officially cancelled the SaaSpocalypse, and now we're all staring at Broadcom to dictate the next rotation
Equities hit fresh record highs today as in-line PCE inflation data and rumors of a U.S.-Iran ceasefire cooled oil prices, sending tech soaring. HOOD surged 11.3% after launching its government-backed Trump Accounts child retirement app and introducing autonomous AI agents for retail trading and spending. NBIS jumped 8.6% after AI hedge fund Situational Awareness LP disclosed a massive 5.6% stake, validating the firm's highly profitable AI infrastructure expansion. SHOP and NOW ripped higher as Snowflake's historic post-earnings surge crushed the 'SaaSpocalypse' narrative, proving AI is accelerating, not replacing, enterprise software. Watch AVGO earnings next week; with software fears dead and AI hardware demand remaining insatiable, Broadcom's forward guidance will dictate tech's next rotation.
Posture: Maintaining a 'Smart Aggressive' stance in AI infrastructure. Letting winners run and avoiding overtrading ahead of critical AVGO earnings.
Tickers in focus: SNOW, AVGO
Upcoming earnings
The day's moves on the ledger
No slate changes were logged this day.
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