Good evening, you're tuned in to Markets Desk.
The death of Senator Lindsey Graham is sending shockwaves through Washington and beyond. The South Carolina Republican and close Trump ally passed suddenly at seventy-one following what his office described only as a brief and sudden illness. Graham was a defining voice on foreign policy and a significant force in shaping the Senate's relationship with the current administration. His absence leaves a consequential vacancy at a delicate moment in American politics.
Turning to the custom chip space, Broadcom and Marvell are drawing serious investor attention as the AI infrastructure trade matures. Broadcom brings diversification across custom silicon, networking hardware, and enterprise software, while Marvell is making a tighter, higher-conviction bet on custom AI chips and optical networking. The valuation gap between the two names is becoming a genuine debate on the Street.
And on the rates front, Fed Chair Kevin Warsh and the FOMC are drawing scrutiny after an eight-word statement that traders are reading as a potential pivot signal. The Dow, S-and-P, and Nasdaq have all recently touched new highs, but interest rate uncertainty is quietly building underneath that rally, and any shift in forward guidance could reprice risk assets quickly.
That's the tape. Markets Desk, signing off the floor.
