Good morning. QQQs +40bps ahead of the jobs report this morning. Semis +2% following the OpenAI Astra hype yesterday while Software -1% (PATH -8% & ADSK -1% leading the way down as the loser from Astra’s improved computer control & 3D modeling capabilities, respectively…WIX & FIG were the main underperformers yesterday)
Softbank +12% the big winner overnight feeling the OAI love while rest of Asia mixed: TPX +0.03%, NKY +1.26%, Hang Seng +1.74%, HSCEI +2.02%, SHCOMP -0.3%, Shenzhen -0.79%, Taiwan TAIEX +1.51%, Korea KOSPI +1.64%. Memory strong with Samsung +4% and Hynix +5%
Fairly slow day today. Next week we get the Citi and GS TMT Conferences so should be a good and busy week, with the first set of datapoints/mgmt commentary since the Q2 prints.
We’ll cover IOT +13% and ZS -3% earnings first then onto the usual.
Let’s get to it…
