US Equities Mid-Day Color

US equities are higher at mid-day, led by a surge in AI-related themes and semiconductors following optimism over a potential US/Iran peace deal. While major indices approach all-time highs, individual stock performance is being driven by heavy momentum positioning and rotating semiconductor interest.

Key Takeaways

• 1.US markets are trending higher, hitting new all-time highs driven by US/Iran geopolitical optimism and global AI enthusiasm.
• 2.The AI trade remains the dominant factor, specifically in memory and semiconductors, while NVDA is showing a 'sell-the-news' lag.
• 3.Hedge funds maintain extreme positioning in momentum and semiconductors, with weights reaching record levels.

Table of Contents

• Key Focus
• Our Flows
• Chart of the Day
• Notice to Australian Investors
• Additional Disclaimers

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