AI-spending optimism lifts SaaS and chips together

Today's Market

On the 9th (local time) the Nasdaq +1.3%, S&P 500 +0.8%, and Dow +0.3% closed higher. A tech rebound led by SaaS and semis brought risk appetite back.

• SaaS/cloud and chips rose together, driving the Nasdaq's +1.3% rebound in a tech-led session

• Oil eased -1.9% and VIX fell -6.3% (15.84), cooling risk aversion

• Next up: July 14 CPI and earnings from JPMorgan and other big banks

Market Data

S&P 500

7,543.64

▲0.81%

NASDAQ

26,206.89

▲1.30%

DOW

52,487.41

▲0.27%

VIX

15.84

▼6.27%

Sector Heat Map

SPY benchmark + 11 GICS sectors · 1-day

S&P 500 SPY +0.85%	Technology XLK +2.18%	Comm. Svcs XLC +0.96%	Cons. Discr. XLY +1.34%
Cons. Staples XLP −1.41%	Energy XLE −1.40%	Financials XLF +1.04%	Health Care XLV −0.08%
Industrials XLI +0.38%	Materials XLB +0.20%	Real Estate XLRE +0.18%	Utilities XLU −0.51%

In Focus

AI-infrastructure optimism revived tech 📈

Meta's plan to expand datacenter capacity sparked a chip-and-cloud rebound

• Meta's plan to double its AI datacenter capacity lifted US chip stocks — the sector rose +3.5%

• Hopes the French regulatory probe on Nvidia is wrapping up added to AI-chip sentiment

• SaaS/cloud led the bounce — Atlassian (TEAM) +6.1%, Palo Alto (PANW) +5.5%

• Breadth widened as single names joined — HPE +9.9%, Rivian +8.8%

This Week

ALL TIMES EASTERN (ET)

• Tue 7/14 JPMorgan earnings | est. EPS $5.66

• Tue 7/14 Bank of America earnings | est. EPS $1.12

• Tue 7/14 Goldman Sachs earnings | est. EPS $14.30

• Tue 7/14 CPI

• Wed 7/15 Johnson & Johnson earnings | est. EPS $2.85

• Wed 7/15 PPI

• Thu 7/16 TSMC & Netflix earnings, Retail Sales

For informational purposes only. Not investment advice. All investment decisions are your own responsibility.

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