Monday, August 31, 2026: Oil breaks above $90 after US-Iran exchange fire; the 10-year yield breakout puts 5% in view; $NVDA's Friday reversal gets pinned on Fed rate anxiety.

Trump asks SCOTUS to allow immediate firing of 29 trans service members. Not a market mover, but it sharpens the DC executive-power fight and adds political noise this week. The 10-year Treasury yield is breaking out and 5% could just be the start—that reprices long-duration equity. Watch $AAPL and $MSFT as the highest-duration mega caps. Brent jumps 3% to above $90 after the first US-Iran fire exchange in a month. Trump is meeting refiners to push gas prices down—supply fear is real, but policy pressure could cap the spike. Nvidia's $3.5B Mediatek investment and BofA's $85B TSMC 2027 capex call say AI infrastructure spending is still accelerating. $AVGO and $MU are the picks-and-shovels behind that compute; Nvidia's setup is 14x earnings for 70% growth. Dell reports this week with record data center demand expected. The issue is whether AI server backlog can justify the massive 2026 rally—priced for perfection now. Hyperliquid open interest crosses $13B while it's reportedly in talks

Trump asks SCOTUS to allow immediate firing of 29 trans service members. Not a market mover, but it sharpens the DC executive-power fight and adds political noise this week.