Semiconductors: Bull vs. Bear Case (Important for the Market)
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What’s in Today’s Report:
- Semiconductors (SOX): Bull vs. Bear Case
Futures are modestly higher and are extending Thursday’s gains following a mostly quiet night of news.
Most of the early rally this morning is due to momentum from Thursday’s surge in stocks, but Taiwan Semiconductor (TMSC) also gave a positive July revenue update which is boosting tech/AI sentiment and supporting markets.
Geo-politically, a retaliatory attack from Hezbollah and/or Iran on Israel remains imminent and we shouldn’t be shocked if geo-political risks rise over the weekend.
Today there are no notable economic reports nor any Fed speakers so trading should be driven by technical factors and the yen, and as long as the yen doesn’t rally, stocks should be able to hold Thursday’s gains.
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