The strike on the Strait of Hormuz lifts crude 2.8% and makes energy the only US sector in the green: Schlumberger stock up 4.83%, Exxon Mobil up 2.71%, Chevron up 2.12%. A California wildfire bill takes 23.07% off Edison International stock and 20.06% off PG&E.

The US central bank takes rate cuts off the table and Wall Street sells the guidance: Marvell stock loses 10.28%, PayPal 12.71%, Autodesk 3.67%. German carmakers lead Europe with BMW up 4.50% and Volkswagen 3.23%, Frankfurt closes a whisker from its record and Leonardo turns to sell.

Nvidia's quarter settles the bubble debate: $96.2bn in revenue and demand Jensen Huang calls 'parabolic.' But the week carries a second, more uncomfortable signal—116 companies and institutions warn the window to defend against AI-enabled cyberattacks is measured in months.

One sector out of eleven rises on Wall Street and carries everything with it: Nvidia stock gains 8.74%, Salesforce 22.58%, Palo Alto 12.83%. Europe goes the other way, with Paris down 1.71% and Milan down 1.14% as UniCredit sheds 3.17%. STM and Stellantis stocks run against the tide.

Nvidia beats with the market closed, posting record revenue of $96.2 billion. In the regular session not one of the seven indices moved a quarter of a point: the individual names did all the work. Moderna stock fell 5.77%, UniCredit rose 2.16%, SAP lost 2.93%.

Moderna stock jumps 14.36%, the widest move in the basket. Semiconductor stocks rebound before Nvidia earnings with AMD stock up 4.91% and Super Micro up 9.35%, while cybersecurity pays the bill. Luxury slides across three markets: Kering down 3.34%, Moncler stock down 2.22%.

Semiconductor stocks de-risk before Nvidia earnings: Micron stock down 5.83%, AMD stock down 3.49%, Intel stock down 3.12%. Against the tide, US payment networks lead with Mastercard up 3.31% and Visa up 3.06%, while Stellantis stock drops 4.77% in Milan on the US-Canada tariff shock.

Uranium and rare earths take Wall Street, with Uranium Energy up 14.44% and Cameco up 7.24%, while bitcoin clears 78,000 dollars and Coinbase stock gains 8.20%. Alibaba stock drops 8.57% on the cost of AI, US utility stocks fall 2.28% and Stellantis stock leads Milan, up 4%.

The MPS board approves two exchange offers worth 34 billion euros on Banco BPM and Banca Generali, and the shares of the five protagonists move by less than seven tenths of a point. On Wall Street Walmart stock falls 9.15% despite beating expectations, and Eni stock rises 2.59%.

Moderna stock soars 176.97% and Merck stock gains 12.60% on phase 3 melanoma vaccine data, carrying the whole biotech complex with them. Marvell stock jumps 9.85% on a 12.2 billion warrant granted to Google while Broadcom stock falls 4.61%, and Bitcoin clears 68,000 dollars.

Micron stock, Western Digital, Sandisk and Marvell fall between 7% and 9% as the US thirty-year yield reaches a twenty-year high. Baidu stock collapses 12.73% on a fifth straight quarter of falling revenue, Home Depot beats and stays flat, and STM drops 7.57% on the Milan market.

Micron stock jumps 4.13% while Adobe, Microsoft and Salesforce each give back more than 2.5%. Reddit stock joins the S&P 500 after a 7.63% drop, STM flies 5.03% on the European chip rebound and US energy is the only sector in the green. Thirty fresh buy signals from the weekly analysis.

Broadcom stock falls 5.94% on the alarm over 370 billion dollars of AI-linked debt, while AMD stock gains 6.50% and Micron 2.30%. Thirty fresh buy signals from the weekly analysis. Ferrari and Fincantieri hold the Milan market. SPY closes a cycle while the Nasdaq ETF opens a new one.

Cisco stock drops 8.40% after a record quarter: gross margin falls to 66.3% on expensive AI memory. Salesforce, Palantir and Oracle rally. Eni stock and Leonardo stocks slip on the Milan market. SPY closes at a record while our weekly signal on the Nasdaq ETF reverses tonight.