WS #10640

The dominant signal in this window is the after-hours surge in semiconductor stocks driven by Micron Technology's (MU) record-breaking FQ3 earnings, corroborated by multiple sources (Bloomberg, Seeking Alpha, and individual analysts on Bluesky). S&P 500 futures rose 0.7% and Nasdaq futures jumped 2.0%, with MU shares up 13% after-hours. The results confirm sustained AI-driven memory demand, with Core Data Center revenue growing 653% YoY at 83% operating margins. This is a high-significance positive for the semiconductor sector and the broader tech narrative, which was already ESCALATING from the previous window. Separately, Qualcomm (QCOM) shares soared on new revenue targets, adding to the AI infrastructure buildout theme. On the geopolitical front, a magnitude 7.1 earthquake struck Venezuela, triggering a US tsunami warning for Puerto Rico and the Virgin Islands, but no immediate market impact was observed. Israel's Defense Minister Katz stated Israel will not withdraw from Lebanon even if the US demands it, escalating Middle East tensions. Bitcoin fell to $60,000 as AI trade draws investor interest away from crypto. The Fed stress test results showed all 32 large banks weathered a hypothetical recession, with U.S. Bancorp's stress capital buffer unchanged at 2.6% until October 2027.