Jack of All Trades

Trump-Xi: no major deals; semis sold off (Intel −6%, AMD −5.7%). Two AI software bright spots: FIG +12% (rev beat, FY raised, AI converting free→paid) and KLAR +14% (rev +32% adj., −40% headcount vs. 2022 with higher revenue — AI efficiency model in purest form). SKORE: FIG 7.8 · KLAR 7.1

A comprehensive narrative history of US Treasury yields, Federal Reserve policy, and the structural forces reshaping sovereign debt markets — from the March 2020 liquidity crisis through the Iran war yield spike of May 2026.

Dow 50K, S&P + Nasdaq ATH. Trump–Xi: Hormuz free waterway, oil fell. Powell's last day. AMAT record: rev $7.91B, EPS $3.51 crushed $2.71, semicon equipment industry +30% CY2026 raised from +20%, Q3 $8.95B guide crushed est. +8% AH. SKORE: AMAT 8.4 Strong Buy.

PPI +1.4% scorching — markets shrugged, S&P + Nasdaq ATH. CSCO +14% AH: AI orders $5B→$9B, networking +50%, Q4 $16.8B guide crushed consensus. BABA missed: cloud +38% but first op. loss since 2021, profit near zero on AI/commerce spend. SKORE: CSCO 8.3 · BABA 5.8.

CPI 3.8% hottest since May 2023; real wages negative. Qualcomm −13%, SOX −5%. UAA −14%: FY2027 EPS $0.08–0.12 vs. $0.23 est., Iran $35M cost, North America −8%, restructuring overrun $305M. On Holding crushed with record margins. SKORE: UAA 3.6 Sell.

Trump rejected Iran deal; ceasefire 'on life support.' S&P + Nasdaq ATH. CEG: EPS beat, revenue +64%, 20% CAGR through 2029, nuclear data center 5,000MW in PJM queue. MNDY: EPS $1.15 crushed $0.95, AI = 10% new ARR, $553M buyback, +26% pre → +2% close. SKORE: MNDY 7.6 · CEG 7.4

NFP 115K Goldilocks; UMich 48.2 new low. S&P + Nasdaq ATH; 6th weekly win. SONY: FY record profit +13%, ¥500B buyback, TSMC AI sensor MOU, FY2026 ¥1.6T target. ENB: record Mainline 3.2M bpd, $40B backlog, guide reaffirmed. Islamabad talks this weekend. SKORE: SONY 7.2 · ENB 6.8

Iran declared ceasefire violated; oil +5%. MCD: SSS +3.8%, CFO 'low-income consumers under pressure.' ABNB: rev +18% beat, guide raised, Iran 100 bps headwind noted. CRWV: backlog $99.4B record but Q2 guide missed, −10% AH. SKORE: ABNB 7.3 · MCD 5.7 · CRWV 6.2

AMD +19%, Dow near 50K, Iran peace reports sent oil −7%. DIS +8%: streaming profitable, parks +7%, FY2027 double-digit growth. UBER +10%: bookings +25%, EPS +44%, 'consumers not weakening.' NVO crushed estimates; Wegovy pill strongest-ever GLP-1 launch. SKORE: DIS 7.4 · UBER 7.8 · NVO 7.0

Monday fully erased. S&P + Nasdaq ATH; oil −4%. AMD obliterated: rev $10.25B +38%, Data Center $5.8B +57%, Q2 $11.2B guide — Su: 'tens of billions' AI target. PFE +2%: non-COVID +22%, COVID fading. PYPL −10%: Q2 EPS −9% guide kills turnaround narrative. SKORE: AMD 8.6 · PFE 6.1 · PYPL 4.6