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Stocks were wobbling after another hot inflation report, but the real event for markets on Wednesday is yet to come. The Nasdaq Composite was down 0.2%. Nvidia is set to report results after the close.

Treasury yields declined, as the benchmark 10-year Treasury note yield dropped by over 7 basis points to reach 4.63%.
Core CPI, which excludes food and energy, advanced 0.2% last month, with the overall annual inflation rate landing at 3.4%.
Wall Street futures pointed moderately higher pre-bell Friday as traders awaited the national jobs r
The Philadelphia Semiconductor Index jumped over 5%, its best single-day gain in a month, as bargain buyers piled onto semiconductor stocks.
Wall Street futures were mixed pre-bell Tuesday as tech shares somewhat recovered from Monday's rout
Emily Roland, Co-Chief Investment Strategist at Manulife John Hancock Investment Management, delivered a two-sided message on CNBC this morning: the fundamentals underpinning technology stocks are the strongest she has ever seen, yet the concentration those returns have created is rewriting the risk profile of nearly every diversified portfolio. Her framing captured the current market in ... Top Wall Street Strategist: Tech Earnings Are the “Best I’ve Seen in My Career.” Here’s the Catch.
Morgan Stanley’s Chief Investment Officer and Chief U.S. Equity Strategist Michael Wilson appeared on CNBC this morning with a framing that should give every AI-chip investor pause. The 2026 semiconductor rally, in his read, looks like the next leg of a commodity rotation set off by Fed money printing, with the AI structural story riding ... Morgan Stanley’s CIO: Chip Stocks Following Rare Earths and Gold As Next “Commodity Boom.” Here’s Why That Should Worry You.
Broader tech sell-off continued on Wednesday as investors awaited Micron earnings to judge the demand for AI and memory chips.
CJ Muse went on CNBC this morning and made the case that the memory cycle most investors are watching does not actually peak where they think it peaks. “The real takeaway for memory is that supply is going to be even tighter in 27 than 26,” the Cantor Fitzgerald semiconductor analyst said, “and because of ... Cantor’s CJ Muse Says a 2027 Memory Squeeze Could Power Micron’s Earnings Through 2028