AI Surge, Intel Buzz & Inflation Watch — Weekly Market Wrap (Sep 22–26, 2025)

📊 Market Recap* S&P 500 (SPX): Closed the week positive, extending its climb from April lows to fresh all-time highs.* Nasdaq (IXIC): +0.44%, tech strength intact.* Dow Jones (DJI): Also ended in the green.* 10Y Treasury Yield (TNX): Slight uptick near 4.2%.* Crude Oil (Brent): Choppy; I remain short.* Gold & Silver: Both moved higher — silver even parabolic.* Copper: Watching for a bounce if the 20-day holds.* Bitcoin (BTC): Sitting at a pivot; risk of pullback if the 200-day breaks.🏦 Inflation & Fed WatchThe PCE index for August rose 2.7% YoY, with core PCE at 2.9% YoY — still above the Fed’s target.* This keeps Treasury yields elevated and tempers hopes for aggressive rate cuts.* Watch yields closely: they remain a key drag on risk appetite.🔗 Federal Reserve Data💻 Nvidia, OpenAI & Intel Buzz* Nvidia (NVDA) shocked markets with a $100B investment in OpenAI to expand computing infrastructure.* Intel (INTC) ripped higher again after last week’s $5B stake from Nvidia.* Reports surfaced of possible partnerships with Apple (AAPL) and Taiwan Semiconductor (TSM).* Speculation around M&A and government backing fueled strong flows into Intel shares.🔗 Nvidia (NVDA) | Intel (INTC) | Apple (AAPL) | TSMC (TSM)📱 Oracle & TikTokOracle (ORCL) remains in the spotlight as it explores acquiring TikTok’s US operations.* If successful, Oracle could become a hybrid cloud + social media powerhouse.* Regulatory risks remain high, especially beyond the Trump administration.🔗 Oracle (ORCL)🎮 Big Movers & Earnings* Electronic Arts (EA): +15% after WSJ reported a $50B LBO bid backed by Saudi PIF & Silver Lake.* Costco (COST): Dropped after earnings miss, but looks like a strong long-term buy opportunity.* ASML (ASML): Still elevated; waiting for a pullback before re-entering.🔗 Electronic Arts (EA) | Costco (COST) | ASML (ASML)💼 Trades of the Week* Intel (INTC): Sold full position on Sep 26 → €920 gross / $791 net profit. Out for now, watching RSI (80+) for a pullback before re-entry.* Apple (AAPL): Partial sale on Sep 26 → €350 gross / $301 net profit. Still bullish long-term given Apple’s ecosystem.Weekly profit: $1,092September total so far: $2,874YTD profit: $70,421📌 Key Takeaways* AI is still king: Nvidia, Intel, and OpenAI dominate headlines.* Intel momentum > Nvidia momentum: telling you where speculative money is flowing.* Earnings mixed: Costco down, EA soared, ASML extended.* Macro backdrop: Inflation sticky, yields rising.* Strategy: Take profits, reduce risk, protect wealth. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit norbertbm.substack.com/subscribe