For the fourth consecutive week, the S&P 500 has struck records highs. This week’s breach of SPX 7,500 even arrived in the face of hotter-than-expected CPI and PPI prints — data that historically would have triggered a meaningful selloff. The tone shifted somewhat on Friday, as the rally lost steam into monthly OPEX. The week […]
semiconductor stocks
The AI Trade Roars — But for How Long?
Last week, strong earnings pushed both the S&P 500 and Nasdaq to — once again — achieve all-time highs. Through the fast and furious AI-driven rally of the past 6 weeks, SPX has climbed 15% while NDX has surged 28%. The market’s pace of advance is well beyond historical norms, reflecting an exceptionally aggressive repositioning […]
Quiet Indices, Roaring Stocks: the Volatility Dispersion Trade
Robust Mag7 and semiconductor earnings have reinforced investor confidence in the AI trade, lifting the S&P 500 and Nasdaq to fresh highs. Index implied volatility (IV) — the options market’s expectation of future price movement — reset to its lowest level in three months. Despite the backdrop of the Iran conflict and heightened oil prices, […]
