Oil prices are nearing $100, U.S. stocks fell for the second consecutive day, but AI computing power is showing an independent trend. The escalation of the Middle East situation is driving up oil prices and inflation expectations, with the probability of a Fed rate hike in September rising to over 60%. The 10-year U.S. Treasury yield continues to hover around 4.8%. On the other hand, funds are still pouring into chips, optical communications, cloud computing power, and storage. CoreWeave surged nearly 12%, Lumentum jumped 11%, and Intel rose 9%. Tonight, let’s see how the U.S. Treasury plans to cool down long-term bonds, and early tomorrow morning, it’s Apple’s foldable screen’s turn to face market scrutiny.