Editorial companion

What stands out

Nathan Peterson on Schwab Network watching a midweek rotation into tech called a "bias to the upside," and he used Micron (MU) and the PHLX Semiconductor Index (SOX) as examples of what rampant single-stock volatility looks like when AI demand meets scarce supply. That matters because this is not a gentle trend, it’s a market re-pricing driven by real end-market growth in chips and by swings in investor positioning, and Schwab’s own business is one of the places that benefits when traders and reallocations accelerate.