Jobs came in hot, bond yields went vertical, and our semiconductor stocks got absolutely dragged, leaving us staring at next week's inflation prints like a life raft
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Evening brief: Jobs came in hot, bond yields went vertical, and our semiconductor stocks got absolutely dragged, leaving us staring at next week's inflation prints like a life raft
Friday's shockingly hot jobs report obliterated rate-cut hopes, sending Treasury yields vertical and triggering a violent liquidation across the entire semiconductor sector. Marvell was slaughtered for a 17 percent loss before ripping 8 percent higher in after-hours trading on news of its S&P 500 inclusion. Micron plummeted 13 percent as AI spending jitters, a competitive Nvidia HBM4 nod, and a 38 million CEO stock sale spooked momentum buyers. AI darling Nebius Group crashed 12 percent as infrastructure hype abruptly cooled, entirely ignoring its massive new compute agreements with Microsoft and Meta. Next week's CPI and PPI prints are the absolute key to whether this nasty semiconductor pullback is a buying opportunity or a structural top.
Posture: Aggressive on Oversold AI. The semiconductor liquidation triggered by macro fear creates exceptional asymmetric entry points in infrastructure assets.
Tickers in focus: SMH, MRVL, MU
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