Daily Market Briefing

Market Briefing — July 28, 2026

CPI inflation: +3.7% YoYCore CPI inflation: +2.8% YoYNonfarm payrolls: +57k jobs MoMReal GDP growth: +2.7% YoY

The clearest signal today is an AI-driven chip selloff rippling across Asia — South Korea's KOSPI fell sharply as semiconductor stocks sold off, and Taiwan authorities reportedly opened a probe into Nvidia's local office over alleged AI chip smuggling to China. That's a meaningful overhang for the sector at a moment when valuations in memory and AI infrastructure were already stretched.

Individual stories pull in opposite directions. Intel broke a 15-year company record this quarter, yet the stock still sold off — a reminder that even strong prints can't always overcome sentiment. D-Wave surged 20% after an expanded AT&T partnership for quantum network optimization. Rocket Lab sits 58% below its 52-week high while Wall Street's average target implies nearly 79% upside — a gap that will eventually force one side to capitulate. Chipotle reports Wednesday and already carries a 50% drawdown from peak. The Nvidia smuggling probe is the thread worth watching most closely heading into tomorrow.