WS #9332

The dominant signal in this window is Apple's WWDC 2026 keynote, which unveiled a major Siri AI overhaul built on Google Gemini models. Despite the AI upgrade, Apple's stock fell ~2% on the day and is down ~5% from its intraday high, reflecting a 'sell the news' reaction and rotation ahead of Wednesday's CPI report. Multiple sources (Guardian, NPR, TechCrunch, Decrypt, Hacker News) corroborate the Siri AI announcement and the Google collaboration, marking a significant strategic shift for Apple. Separately, Corning announced a multibillion-dollar fiber-optic deal with Amazon, sending GLW up over 5%, reinforcing the AI infrastructure buildout theme. On the macro front, Bank of America flagged that 70% of its bear-market indicators have been triggered, while bond yields rose (TLT sold off) and inflation expectations are rising ahead of CPI data. The France-Germany fighter jet project (FCAS) was scrapped, a blow to European defense cooperation. Oil prices remain elevated (WTI ~$91, Brent ~$94) amid ongoing Iran tensions, with China's LNG imports hitting a post-war high. The prevailing narrative is one of tech rotation, rising rates, and inflation anxiety, with the Apple AI news acting as a company-specific catalyst that failed to lift the broader tech sector.