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On July 10, US stocks rose as investors shrugged off the latest US-Iran conflict and instead actively bought tech stocks. Despite tensions in the Middle East, investors remain focused on the AI investment boom, with chip stocks showing strong momentum after significant declines earlier in the week. A report from Goldman Sachs' trading division noted that client conversations revealed no material concerns about the AI trade or capital expenditure outlook, suggesting that recent market adjustments were primarily technical rather than fundamental. BlackRock economist Helen Jewell echoed this view, stating that while large tech companies face negative free cash flow issues and rely more on debt market financing for expansion, investment commitments in AI will continue to support this investment theme for at least the next two to three years.
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