Wednesday, August 12, 2026 — CPI comes in tame, S&P rips, AI names lead. Iran ceasefire headlines whipsaw. Nvidia Aug 26 Jensen update is the next big catalyst.

Iran says no progress on reviving the interim deal, then US and Iran agree on ceasefire extension, then a senior Iranian source says no extension talks. Classic headline ping-pong. Watch oil. Tame CPI keeps the Fed on hold. Advisors already pricing September as a coin flip. The issue is, the market wants cuts but the data isn't forcing the Fed's hand. Nvidia at 24x forward earnings vs AMD at 63x. Not sure people appreciate how cheap NVDA still is relative to the AI complex. Jensen's Aug 26 update on the $1 trillion GPU opportunity is the date. Nvidia's $70 billion bet on OpenAI, Anthropic, and others is starting to look like the smartest strategic move in tech. They're not just selling shovels, they're buying stakes in the miners. RTX Pro 6000 Blackwell GPU now costs $16,000, almost double original price. That's not inflation. That's demand. Good signal for the whole AI hardware chain. Applied Materials earnings on deck. After the NVDA run, semis need AMAT to confirm the capex cyc

Iran says no progress on reviving the interim deal, then US and Iran agree on ceasefire extension, then a senior Iranian source says no extension talks. Classic headline ping-pong. Watch oil.