THE FED/RATES STORY ISN'T OVER After the Fed's first hike in more than three years, the 10-year Treasury yield is hovering near 5%. That's still a major pressure point for expensive growth stocks. Yet semiconductors helped the Nasdaq finish last week higher while the Dow had its worst week since March. So we're getting a very interesting setup: high yields + $100 oil + geopolitical risk, while AI/semis and crypto are still showing strength. 🎯 My Monday watch board AI: $NVDA · $AMD · $AVGO Crypto: BTC · ETH · $COIN · $HOOD Defense: $LMT · $RTX · $NOC · $HII Energy: $XOM · $CVX · $OXY Critical minerals: keep this group on high alert depending on what comes out of today's U.S.–China meeting. The U.S.–China AI/critical-minerals talks are the headline I'd watch closest today because a meaningful announcement could give us a specific sector trade for Monday.