A couple of event-driven standouts aside, the chip and AI bounce looks muted and leadership is lacking. Why the PPI cheer rings hollow.
Although there are event-driven standouts, like AEHR (up 34% on earnings) and PYPL (up 18% on news of its being acquired), the bounce in chips and AI infrastructure is decidedly muted in today's pre-market trade. Moreover, sector leadership, really from any corner, seems to be lacking. The futures are mildly positive, but that's less than convincing in light of yesterday's tepid action. Commentators are crowing about the PPI report, but experienced investors still are not likely impressed by core PPI that's up "only" 4.7% year-on-year. Watch the Kapnotes board for mid-morning opportunities.
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