Let the Chips Fall Where They May; An Apple a Day, Keeps the Bears Away

Dow Outperforms as Oil Prices Extend Their “Diplomacy Decline”

Key Takeaways

• Apple of Market’s AI Eye: Interesting session yesterday, with the S&P 500 and Nasdaq failing to hold onto earlier gains and closing with fractional losses, and the +262-point runup in the Dow was a five-stock story. The narrative is totally changing on AI — we are down to Apple now as the Tech darling, and it doesn’t build data centers. The Mag 7 name with no AI capex story — what had been a knock on the stock for the past two years is now its saving grace.