The main theme for U.S. stocks this week is clear: It’s not about earnings season, but rather *‘inflation data + Apple event + AI software validation’*. U.S. markets are closed on September 7 for Labor Day, so the real action starts in the second half of the week. I’ll be focusing on three key windows: 1️⃣ **First: September 10 - PPI.** This reflects upstream prices, mainly to see if corporate cost pressures are still being passed down. 2️⃣ **Second: September 11 - CPI.** This is the most critical data of the week. - If inflation remains sticky, Treasury yields and rate hike expectations will continue to weigh on tech stocks. - If inflation cools, the market will have a reason to revisit the “soft landing” narrative. 3️⃣ **Third: Apple event + Oracle & Adobe earnings.** - For Apple, the focus is on whether the iPhone 18 Pro, foldable screens, and on-device AI truly deliver. - For Oracle and Adobe, it’s about whether AI is translating into real revenue or just staying as a story. So this week isn’t just about watching price movements. It’s more like three exams: - Inflation tests the Fed, - Apple tests consumer electronics, - AI software earnings test commercialization. Here’s how I’ll approach it: - Start with PPI, - Then move to CPI, - Finally, see if tech stocks can carry the AI narrative forward. If CPI comes in hotter than expected, risk assets will likely take a hit in the short term. If CPI is mild, Apple and AI software stocks might have a chance to regain market sentiment. The real driver of U.S. stock momentum this week isn’t any single company—it’s whether inflation can ease the pressure on tech stocks.