Schwab Network

Akamai (AKAM) and Anthropic's $11.6 billion deal is something BofA expects to benefit AMD Inc. (AMD). Daine King Hall talks about the firm's price target hike from the analyst on expectations of strengthening CPU demand. On the downside, she notes HSBC's downgrade on Twilio (TWLO) and BofA's downgrade on Nike (NKE).

Art Hogan says the 10-year Treasury yield being above 5%, paired with elevated moves in other long-term yields, are "normal," it's just that "we're not use to it." He weighs how strength in the U.S. economy pushes his concerns back. Art adds that the narrowness of the tech and energy-led rally isn't concerning to him either, so long as the economy flexes strength. On the Fed, he believes the inflation ramp will eventually subside and let Kevin Warsh and company to focus on establishing its neutral interest rate target.

Sam Stovall talks about the "limbo period" between earnings season markets are currently existing in, though it hasn't felt like it for some with the historic climb in Treasury yields. He talks about how it affects the Fed's interest rate outlook. As for what to expect next earnings season, Sam warns of a rising earnings bar, suggesting the mentality of "it doesn't get much better than this" due to the previous season's surge keeping that bar high.

Renewed hope for a U.S.-Iran peace deal is keeping crude oil pinned below $95 after the commodity tapped levels above the price Thursday. Kevin Hincks adds that the positive tone extends to the Trump-Xi summit that is continuing Friday, noting that several top company executives also had a chance to speak with China President Xi Jinping Thursday night. Though Treasury yields remain at historic highs, Kevin tells investors to "add perspective," pointing out significantly higher levels in past decades. Also on his docket: durable goods orders.

BofA hiked its price target for AMD Inc. (AMD) after the chipmaker's stock already surged about 200% since the start of 2026. Rick Ducat highlights the stunning climb in shares and key levels to watch while offering an example options trade for AMD.

Drew Pettit of Roundhill Investments remain bullish on the AI trade due to its lasting growth runway. He remains constructive on the Mag 7 and argues that not all seven stocks have to work together at the same time to lift the market. Small caps is one pocket of Wall Street he sees gaining risk due to the heightening interest rate environment. On general market movers, Drew believes investors are sharing bearish sentiment but actually acting bullish. He talks about Roundhill Memory ETF (DRAM) and why companies like Micron (MU), SanDisk (SNDK), Western Digital (WDC) and other AI memory stocks will see years of upside.

Peter Andersen believes the AI trade offers headwinds, but also opportunities for companies across Wall Street. One corner of the market he sees with the biggest upside: cybersecurity. He names Palo Alto Networks (PANW) in particular as a leader in the space. When it comes to adding guardrails to AI, Peter does not believe AI is at the level of human thinking, disregarding immediate attention. However, he warns of necessity down the road. Outside of Palo Alto, Peter names United Rentals (URI) and Infleqtion (INFQ). 

Crude oil has pulled back slightly ahead of Friday's trading session, but Treasury yields remain elevated near multi-decade highs. Kevin Green takes investors through the macro pressures creating lingering volatility for commodities and yields, along with the impacts they will have on equities as the S&P 500 (SPX) to hold a breakout from a bull flag pattern. KG then touches on the Trump-Xi summit and deals the U.S. and China are building to help tie international relations. Also on the docket: AL movers in Akamai (AKAM) and Anthropic's new $11.6 billion deal, along with price target hikes for Everpure (P).

The energy trade continues to face lingering pressures, and it's not just crude oil seeing the climb in prices. In the AI trade, an OpenAI data breach in Australia keeps digital safety concerns elevated. Sam Vadas and Marley Kayden talk about their top takeaways on Thursday's trading day.

Kenneth Wong of xETFs explains how his firm is keeping an eye on AI bottlenecks, especially in memory, pointing to South Korean companies SK Hynix and Samsung as the "heart" of the trade. That said, Kenneth says AI memory "is not a two-company story." He talks about how products from xETFs aim to give investors exposure to wide range of international "picks and shovels" companies powering the AI trade.