Stocks Hit 7th Straight Record High As AI Euphoria Pushes Semis To Most Overbought In A Decade

Another day, another AI meltup. 

After closing near session lows on Friday amid some momentum profit-taking, Monday saw a reboot and a meltup from the start of futures trading, and not even the political quakes in Japan (where the pro-stimulus Takaichi won the LDP leadership race and will be the next PM) or France (where the recently appointed prime minister whatshisname - sorry, he was in power for so long we didn't even learn his name - resigned this morning) did anything to shake the latest low-volume meltup which pushed the S&P to the edge of a new all time high...