Editorial companion

What stands out

Broadcom's blockbuster report dominated the Schwab Network earnings roundtable, and the hosts spent the segment parsing whether its strength is a one-off beat or a signal that artificial intelligence (AI) spending is actually arriving. Snowflake's post-earnings rally and NetApp's selloff made the contrast stark: investors are rewarding AI-exposed throughput and punishing slower storage names in the same tape. Five Below's retail data served as a reminder that earnings season is still a cross-section test, not a single-theme parade.