Intel jumps on a headline

The Morning Briefing

Chips

The big overnight story is the Intel-Apple chip headline.

Intel is the name everyone will be talking about, up sharply in premarket after President Trump said on Truth Social that Apple has agreed to work with Intel to design and build chips in the US. As of this morning neither Apple nor Intel has confirmed it.

The Fed

This was the first meeting under new Chair Kevin Warsh

the committee that was penciling in a cut three months ago is now leaning toward a hike before year-end. Warsh himself declined to submit a rate forecast, so we are reading a board in transition.
I have sat through enough Fed weeks to know the move on decision day is rarely the move that lasts...

Bottom Line

This morning's bounce is narrow and it is resting on a single chip headline that the two companies involved have not yet confirmed, plus an oil-driven relief from the Iran deal. Both of those can be real and still be thin

- Greg

The is what I am wathching now. Have a look.

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Intel jumps on a headline

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