PremiumHormuz, Huang, & Hawks: Slow Summer Week Ends In Chaos After J-Hole
Tl;dr: Nvidia told the market the AI CapEx boom is not dying (it just needs more memory and another $108 billion next quarter) but AI stocks lagged as Software names (that were supposed to be 'disrupted') exploded instead (on Amodei & Benioff's soothing promises). The oil market ended lower, still living or dying on whether Trump is talking to Tehran. But, the big show came today with markets all relatively calm (amid low summer volume and liquidity) until Warsh went full 'Leeroy Jenkins' reminding everyone the Fed still has a 2% target ('sticky' 3.7% PCE), and a $40 trillion debt-load, sending rate-hike odds (and yields and the dollar) higher; stocks, gold, and bitcoin lower.
