Good afternoon. Slow Friday in August as QQQs +13bps ended the strongest week in the year. BTC +4%; China +2%; yields slightly down. VitalKnowledge recaps: “Treasuries saw gains on Friday, w/yields finishing the day down 2-4bp. Fed expectations didn’t move much – the market is pricing in 32bp worth of cuts for the 9/18 meeting and 95bp for the year…Stocks witnessed very modest profit taking in the morning before the solid Michigan sentiment report at 10amET (which revealed an increase in expectations while the inflation gauges held steady) helped put equities on an upward trajectory.”
Let’s get to it…
Semis
AMAT -2% after inline-ish q although rev beat was smaller than previous qs
COHR +7.5% after investors liked olid beat/raise and positive AI commentary
NVDA +1.4% continues to rally - now up close to 30% from a couple weeks ago
TER +1% after Cantor’s upgrade saying TER is one of sneakier AI plays with "excellent leverage" to networking and high bandwidth memory and growing traction on th…
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