A little early this afternoon - QQQs +1.8% driven by strength in AAPL and Semis following a weaker than expected PPI as flight to quality continued (ARKK +1.5%/IWM +70bps underperformed). AAPL +4% as they announced they are revamping their Mac lineup with AI chips, giving nascent bulls confidence in the AI story (where iPhone is more impt) — shows how negative sentiment had gotten. BAML also out saying GMs will surprise to the upside. Some mixed cross currents in macro as yields/dollar continue to rise and commodity names fading a bit (providing big cap tech another tailwind). Let’s get to it…
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