The most important thing in the market today is the U.S. July Consumer Price Index coming out tonight. The weak non-farm payrolls report gave the market a breather, but the stalemate in the Hormuz negotiations has pushed Brent crude back near $90, and hawkish voices within the Fed are growing. Employment is cooling, but oil prices are rising, so tonight's inflation data is critical: if it's below expectations, rate hike pressure will continue to ease; if it's above expectations, the market will have to face high interest rates again. On the AI front, things are looking relatively strong. Lumentum (LITE) reported revenue growth of about 109% year-over-year, CoreWeave grew 112%, and its order backlog has exceeded $100 billion, showing that the massive capital expenditures in AI by the tech giants are turning into real orders for optical communications, computing power, and data centers. Next up, we'll keep an eye on Coherent, Cisco, and Applied Materials to confirm just how strong this wave of AI infrastructure demand really is. Bitcoin is still hovering around $64,000, and tonight the focus will be on how the dollar and U.S. Treasury yields react after the inflation data is released. Gold is holding near $4,400, supported by both risk aversion and easing expectations, but if inflation comes in higher than expected and rate hike expectations heat up again, there could be short-term pressure. Macro factors determine short-term direction, while AI drives the long-term trend. Just keep an eye on the inflation data.