AVGO −12.6% after AI chip guidance ($16B Q3) missed by $1.2B; SOX −2.8%, MU −7.74%. UNH +5.7% on dual BofA/MS upgrades lifted Healthcare +3.06% to drive the Dow to an ATH at 51,562. Ceasefire news cut WTI $3 to $93. Jobless claims 225K (highest since February) confirmed labor softening; Challenger’s 97K May cuts — 40% AI-driven — are a record. IMF extended the US inflation timeline to end-2027 ahead of Warsh’s first FOMC; Friday NFP consensus: 85K.
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MIB Daily: AVGO -12.6% Exposes AI Hardware’s Pricing Trap — Dow ATH Hides Labor Stagflation Heading Into Friday’s NFP
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MIB: Cisco AI Orders Surge, Trump-Xi Summit Ignites Rally, Import Prices Double Estimates
Cisco’s AI quarter — orders raised to $9B, hyperscaler demand +217% YoY — ignited the AI complex; all major indices hit records, Dow retook 50,000. Trump-Xi’s 9-point summit (200 Boeing jets, Hormuz pact, trade board) broadened the rally; transports led at +1.40%. April import prices nearly doubled estimates (+1.9% vs +1.0%), compounding 6.0% PPI; December rate-hike odds now 39%. Warsh assumes Fed Chair tomorrow with the hottest trade inflation since 2022. Cerebras (CBRS) IPO +68% — largest tech debut of 2026.
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