The market is shifting from enthusiasm to a more measured stance. AI demand remains strong, but rising valuations and expectations are making investors more selective. A strong Nvidia outlook could reignite momentum across semiconductors, while cautious guidance could deepen the rotation away from expensive AI names.
Meanwhile, PCE inflation tonight and Jackson Hole later this week could influence Treasury yields and rate expectations. A hotter reading could pressure growth stocks and S-REITs, while softer inflation could support risk assets and extend the AI rebound.
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