Last Friday (Aug 15), US economic data came in below expectations. The US stock market pulled back from record highs. The S&P 500 ended its streak of new record highs, and the Nasdaq ended its two-session winning run. The AI sector was under clear pressure: Broadcom fell nearly 6%, and concerns about the AI financing boom began to surface. However, the memory chip sector bucked the trend and strengthened. SanDisk surged 35% for the week, and SK hynix gained more than 20% over the week, reflecting sustained strong demand for HBM storage driven by AI servers. This week, market focus will shift to the Federal Reserve’s July FOMC meeting minutes (to be released on Aug 19). Investors should watch for signals of disagreement among policymakers regarding the pace of rate cuts and risks from energy-driven inflation. For informational purposes only and does not constitute investment advice.