What a difference a day makes. It began with President Trump speaking, as the market opened lower, then gradually inched higher, and ended with a sigh of relief over major progress on Greenland.

Lingering Trepidation

Yesterday, there was a flurry in the news of a “framework” for a deal on Greenland (think Guantanamo Bay), but that burst of excitement faded into the close.

The market has remained sideways since late October, waiting for the perfect catalyst.

Same Tide, All Sectors

It was nice to see green across all sectors; that’s been something of a rarity of late. This also helps explain, to some extent, why the market is moving sideways.

Sectors like Energy (XLE) and Materials (XLB) don’t have any heft when it comes to the cap-weighted index. The better way to measure the session is market and factor breadth, which was very impressive.

	Advancing	Declining
S&P 500 ($SPX)	82.20%	17.80%
S&P 400 ($MID)	84.25%	14.75%
S&P 600 ($SML)	90.67%	8.67%

Scorching

The hottest thing in the known universe is on Earth: The Large Hadron Collider can reach temperatures of 4 trillion Kelvin.

I’m not sure what it contains, since everything else would melt upon contact.

At the rate memory and storage stocks are flying, they have officially made the list of the hottest things in the universe.

I suspect they are at 3 trillion Kelvin, but it could get even hotter after Intel (INTC) posts its financial results after the close.

Intel Inside

Talk about a company that squandered it all, too focused on preserving its PC chip monopoly. Well, the Trump administration tossed a lifeline, and now the stock has become unstoppable. The shares closed at a four-year high, which means they need a huge beat, like the 3,100% beat the last time out. Curiously, earnings estimates for the current quarter haven’t changed much.

Time to Go Fishing?

The “Mag Seven” is breaking down big time. It's time to put them on your radar. The fundamentals are still improving, and while there will be a peak to growth, that’s not the same as no growth.

Today’s Session

The market started out the Gate nicely as Wall Street's 12-month targets continue to move higher.

Meanwhile, the hot themes continue to sizzle.  This morning, Goldman Sachs raised its 2026 gold target to $5,400 from $4,900.  And the memory story just gets more compelling, as Nvidia (NVDA) and Nintendo make major announcements.

• NVDA halting RTX graphic card production.
• Nintendo may halt Switch 2 production until the third quarter.

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