Wall Street erased Wednesday’s Fed-day rout: Nasdaq 100 +3.36%, S&P 500 +1.67%, VIX -17.33%. Microsoft surged 15.5% on 43% Azure growth; Meta sank 7.95%. Semis went vertical — Micron +18%, Lam +18%, AMAT +15%, AMD +13%. But Q2 GDP undershot at 1.5% with the price index spiking to 6.3%, and Dow Transports fell 1.74%. June core PCE cooled to 3.3%; jobless claims held at 197K. US strikes hit Iran overnight, yet crude closed lower and the dollar broke below 100.
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MIB Daily: Wall Street Sold the Fear, Not the Risk — Chips Reload on AI Capex as Defensives Fund the Trade and GDP’s 6.3% Price Index Keeps the Question Open
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MIB Daily: MU +12%, SNDK +14% Rally as Fed Zeroes Out 2026 Cuts — Can AI Survive a Hawkish FOMC and Friday’s Tariff Deadline?
Memory chips ignite a broad market rally — Micron +12%, SanDisk +14% — pushing the Nasdaq 1.93% higher on 9-of-11 green sectors. But the backdrop turned hostile: Fed officials’ hawkish pre-blackout chorus erased 2026 rate-cut odds to zero and priced in 47% hike odds ahead of next week’s FOMC. Oil jumped to a five-week high on a tanker strike near the Strait of Hormuz. Trump also slapped 50% tariffs on Canada, with a global tariff overhaul looming as Friday’s stopgap expires.
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MIB: Iran Holds Hormuz, Section 301 Targets 16 Nations, Private Credit Cracks & FOMC March 18 in Crosshairs
Iran’s new supreme leader vows Hormuz stays shut; oil briefly tops $100/bbl as IEA’s 400M barrel release fails. S&P 500 -1.52% to YTD low; VIX spikes to 27.29. Trump launches Section 301 probes into 16 nations as Canada’s 25% steel tariffs lock in. Private credit cracks: Morgan Stanley gates $8B fund, Deutsche Bank flags $30B exposure. Dollar General -7.8% despite earnings beat. All eyes on FOMC March 17-18 — dot plot in spotlight.
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