The market bounced Thursday after oil cooled, jobless claims behaved, and traders decided Wednesday’s Warsh Fed selloff was not scary enough to kill the AI tape.

$SPY gained 0.8%, $QQQ climbed 2.7%, and $IWM rose 0.97% as crude fell a whopping 13% and semis did most of the work. The relief rally was not a full “risk is back” party. It was a selective bid for anything tied to chips, compute, storage, and hard AI infrastructure. Apple CEO Tim Cook said the iPhone maker was raising prices for its devices Thursday because of component costs, a move that sent memory stocks like SanDisk flying. SpaceX fell nearly 4%, down for the second day since it’s IPO last week.

Stocktwits chatter matched the tape: bulls chased $INTC, $QS, and $BFLY, crypto-adjacent names stayed messy with $MSTR lower and $CIFR higher, and the cleanest read was that traders still love AI, just not every company that says it.

Today’s Briefing:

Intel, the legacy chipmaker trying to turn its foundry comeback into a national industrial-policy story, ripped Thursday after President Trump said Apple agreed to work with the company on U.S. chip design and manufacturing.

The RIP: $INTC ( ▲ 10.64% ) jumped 10%, after touching $135.46 intraday. $AAPL rose 0.5%. The move helped pull the semiconductor tape higher, with AI picks-and-shovels catching a broad bid.

This is exactly the kind of headline Intel bulls have been waiting for: a brand-name customer, a domestic manufacturing angle, and political heat all in one package. The catch is that Apple and Intel confirmation still matters, because the stock is now pricing in a lot more than a social post. If the partnership becomes real foundry volume, Intel’s comeback story gets teeth. If not, the market just paid a very large premium for a press-cycle pop.

Community is neutral, message volume is normal across ~203.2k watchers. The stream was split between “finally, Intel is back” and “this valuation is getting weird fast.”

Tell the $INTC room: comeback or campaign →

Amazon, the cloud and e-commerce giant, jumped Thursday after Bloomberg reported it is in talks to sell its custom AI chips for use inside other companies’ data centers. That turns Trainium from an AWS-only advantage into a possible Nvidia alternative with a storefront.

The RIP: $AMZN ( ▲ 2.9% ) rose 2.8%. Amazon said Trainium has produced more than $225B in revenue commitments, Trainium3 is “largely sold out,” and Trainium4 is expected next year.

This is Amazon trying to make the AI capex boom pay both ways. AWS already rents access to Trainium through its own cloud, with OpenAI, Anthropic, and Uber among users, but selling the hardware directly would chase sovereign AI demand and customers that want local control over compute.

Community is bullish, message volume is high across ~691.5k watchers.

Weigh in on $AMZN: chip threat or cloud flex →

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Accenture, the global consulting and IT services giant, got steamrolled Thursday after its earnings report made investors ask the ugliest AI question: what if the technology that consultants sell also eats the consulting model?

The RIP: $ACN ( ▼ 17.97% ) fell 18% to $127.14. Fiscal Q3 adjusted EPS was $3.80, above estimates, while revenue came in at $18.7B, below the roughly $18.8B forecast. New bookings fell 3% to $19.3B, and the company narrowed full-year revenue growth guidance to 3%-4%.

The quarter was not a disaster on the surface, which is what makes the selloff interesting. The market is saying the old labor-heavy consulting machine has a credibility problem if clients slow discretionary spending while AI agents make more work automatable. Accenture is still buying its way deeper into AI and cybersecurity, but investors want proof that those deals replace billable-hours pressure instead of decorating it.

Community is bullish, message volume is high across ~8.2k watchers. The room was split between bargain hunters and traders arguing AI is finally coming for professional services.

Weigh in on $ACN: moat or melt →

QuantumScape, the solid-state battery developer trying to prove its tech can move from lab promise to auto-industry reality, surged Thursday after Honda put its name next to the platform.

The RIP: $QS ( ▲ 16.52% ) jumped 11% to $7.68, after touching $8.06 intraday. The company announced a multi-year joint research agreement with Honda R&D focused on QuantumScape’s solid-state lithium-metal battery platform and related manufacturing processes.

It does not mean commercial batteries are rolling into dealerships next quarter, and that distinction is why the stock’s own sentiment stayed bearish even as the price ripped. But the bull case got cleaner: Volkswagen was not the only automaker willing to keep testing the tech.

Make your $QS case: validation or vapor →

The Iran deal is starting to show up where markets actually care: tankers, oil, and gas prices. Stocks bounced Thursday as crude backed off, Hormuz traffic restarted, and traders got a break from Wednesday’s Warsh Fed hangover.

"Oil is flowing," President Donald Trump posted Thursday.

The RIP: Three Saudi VLCCs carrying 6M barrels crossed the Strait of Hormuz Thursday. Vice President JD Vance said more than 12M barrels moved through Hormuz overnight, the highest since the conflict began. U.S. gas averaged $3.99 per gallon, down for 28 straight days after peaking at $4.56 on May 21.

"That is a high since the beginning of the conflict," Vance said Thursday.

The contradiction is classic market politics: the deal is easing pump prices and crude risk right now, but it is doing that by accepting a messy interim framework hawks already hate. The big tell is Hormuz volume. Michael McDonough, information specialist at Bloomberg, found 8 tankers crossed the waterway this morning, up from basically none the past couple of months.

If tankers keep moving, the energy shock fades. If mines, inspections, or politics slow the lane again, Thursday’s relief rally gets tested fast. 🛢️

🤑 NYC Knicks parade packs downtown with fans, cops, confetti

😨 TSLA Stock Eyes Red Week: Elon Musk Says Tesla’s FSD Could Soon Take Directions Like An Uber Driver

🏠 US weekly jobless claims stay elevated amid seasonal volatility, but labor market stable

📺 Oil prices fall after Vance says more than 12 million barrels exit Strait of Hormuz

👀 Iran’s supreme leader endorses face-to-face negotiations with the US

🌕 SpaceX stock drops after breaking 3-day winning streak

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