Rates Climb Again Before CPI Release… Nvidia, Intel Continue Fundraising

Summary

Park Myung-suk reviews overnight market moves as the CPI release looms. Oil surged 5% amid US-Iran tension and record-low strategic reserves, lifting energy stocks. Treasury yields topped 4.7% despite a weak jobs report, keeping markets cautious. In AI, software continues to show relative strength, while semiconductor names face headwinds from large funding deals by Nvidia and Intel. Microsoft is singled out positively for its cost-efficient Maia chip and improved AI monetization. Apple, on the other hand, is under pressure from component cost and product setbacks. The session is driven by macro uncertainty, with a watchful eye on CPI and Fed rhetoric.

• Oil jumps 5% after Trump's economic-pressure approach to Iran, and US strategic reserves fall below 300 million barrels.
• 10-year Treasury yield rises back above 4.7% ahead of CPI, despite Friday's disappointing payrolls.
• Nvidia and Intel large-scale fundraising drags down semiconductor stocks broadly.
• AI software sector shows resilience, and a continued outperformance after CPI could signal a leadership shift.
• Microsoft stands out as Bernstein raises target on in-house Maia chip cost savings and sustainable AI spending.
• Apple faces margin headwinds after scrapping a premium glass iPhone due to low yields and higher memory costs.
• Markets are in CPI-waiting mode, with hawkish Fed comments keeping rate uncertainty alive.