Julian Emanuel remains steadfastly bullish on equities, led by AI names, with S&P 500 targets of 7750 and a bull case of 9000. He views the current tech selloff as a healthy churn within a bull market, not a bubble, and expects earnings to refresh sentiment toward mega-cap tech. He notes small caps are benefiting from anchored long-term yields and an adjusting labor market, but may see reversion post-Russell rebalance.

Matt Witheiler discusses SpaceX's $400B single-day drop, noting its unique ability to get credit for a future that doesn't exist, similar to Tesla. He agrees with SoftBank that orbital data centers are not the near-term path; the focus is on the compute-constrained environment for inference on Earth. He sees ROI in AI CapEx from companies like SpaceX and Google, and believes frontier models will capture most revenue, while open-source models have a role. He addresses AI doomerism, noting Anthropic's model may have breached classified systems, leading to government lockdowns.

Amos Hochstein views the US-Iran MOU as a near-surrender, removing massive oil sanctions for 60 days with only a promise to talk. He expects Iranian oil to initially flow to Chinese and Indian buyers, with gradual broadening. Gulf states are concerned, seeing Iran as a well-funded, vengeful neighbor. The oil market is ignoring geopolitical risk premiums, focused on tech, but Brent at $77 still trades above pre-conflict levels of $56-60.