New York Stock Market Rally Continues on M7 Strength, Semiconductors Not Working Despite Good Performance?

Summary

Curator Park Myung-suk reviews a US session marked by a sharp rotation between M7 big-tech winners and lagging semiconductors. He advises investors to keep a balanced stance via broad ETFs like SPY or QQQ rather than chasing the swings, highlights ASML's blowout guidance as a bullish signal, and notes that M7 names are becoming the market's comfort trade ahead of earnings. Other themes include strength in financials, Apple's emerging AI acquisition strategy, Amazon's rack-selling momentum, cybersecurity as an AI-driven but pricey play, and a speculative Bitcoin bounce on potential crypto legislation.

• US equities rally led by M7, semiconductors and software trade inversely in a choppy rotation.
• PPI misses to the downside, easing inflation fears; Fed officials express mixed views on rate hikes and AI-driven inflation.
• ASML reports blowout guidance, EUV orders filled through 2027, and plans to raise prices; speaker interprets demand as still enormous.
• Financials join M7 as current market leaders after strong earnings.
• Apple quietly starts spending its cash hoard on AI chip acquisitions, echoing its classic buy-low strategy.
• Amazon sees strong demand for its Graviton-based rack hardware, shifting focus to larger-scale products.
• Cybersecurity stocks (CrowdStrike, Palo Alto) benefit from AI tailwinds and a new White House initiative, but rich valuations call for caution.
• Bitcoin jumps above $65,000 on hopes that US crypto legislation will pass before the August congressional recess.
• CoreWeave's memory hedging plan spooks semiconductor investors, but the speaker views it as normal risk management rather than a market peak signal.