The Daily Wrap

China tech crushing. Semis priced for perfection. The 1997 analog still says higher.

AI optimism sees stocks erase losses on hawkish Fed - Newsquawk US Market Wrap

Channel 14 reports Trump said US would back Israel if it attacks Iran; Kuwait begins boosting oil output to above 2mln BPD in a week; SNB, Norges Bank, and BoE all hold rates as expected; AMZN reportedly in talks to sell NVDA rival chips to other companies; Strong US 5yr TIPS auction; Trump said AAPL has agreed to work with INTC on chips in US; AAPL CEO Cook said it plans to raise prices due to the memory chip crunch.

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