Editorial companion

What stands out

Premarket weakness in chip names from Nvidia to Micron ran into Home Depot earnings that highlighted clear housing headwinds, and the clip even flagged U.S.-Iran tensions as a background risk, a tidy reminder markets do policy, geopolitics, and company reports at once. A Wall Street Journal note that artificial intelligence (AI) spending is larger than many expect matters here: it underpins the long-term case for chips even while short-term profit-taking rattles the tape. CNBC’s Squawk Box reminded viewers that patient, long-horizon investors can treat daily gyrations as noise, which is exactly the tension playing out today.