Editorial companion

What stands out

Tiffany McGhee on Schwab Network argued the market is enjoying a calmer patch thanks to earnings strength and policy shifts, and she pointed to artificial intelligence (AI) "picks and shovels" that benefit from capital expenditures (CapEx). Microsoft gets the obvious nod because Azure and cloud consumption still look durable, while Caterpillar was raised as the industrial face of AI's footprint, selling the machines and systems data centers and factories need. For investors who want indirect AI exposure, this is a reminder to think infrastructure, not just models.