Editorial companion

What stands out

Tom White opened by saying a pullback in Treasury yields is what the market needs most, and Schwab's clip shows why that matters: crude oil spiked above $90 on renewed U.S.-Iran tensions while the artificial intelligence (AI) trade kept humming through earnings. Dell Technologies showed clear server revenue acceleration, handing the hardware trade a tangible tailwind, while Palo Alto Networks beat but still slid, a reminder that earnings beats no longer automatically translate into share-price relief.