Oil surges on Iran uncertainty. Tech stocks slide. Phillies drop 14 on Washington.

• Tech got hammered — QQQ down 4.1% this week as mega-cap AI plays take the hitNvidia closed at -4.1%, Tesla -5.8%, AMD -5.8%. This isn't a blip. Broad-based selloff in the names that drove the year, signaling either profit-taking or real concern about growth expectations.
• Bonds got stronger as stocks weakened — 10Y yield up 0.7% on the weekClassic rotation: equities struggling while yields climb, which typically means traders are pricing in either Fed hawkishness or economic slowdown.
• Small caps holding ground while big tech corrects — Russell 2000 flat on the week despite broader weaknessIWM +0.2% week-to-date shows domestic, smaller companies aren't panicking the way mega-cap growth is.

Tech stocks got hit hard this week with QQQ down 4.1%, signaling a rotation out of the AI-driven rally that has powered much of the year.

• Why it matters: Yields rose alongside the equity selloff — the 10-year is up 0.7% on the week — which reflects investors demanding more return to hold risk assets rather than the usual flight-to-safety dynamic.
• Watch for: Watch for upcoming PCE inflation data and any Fed commentary. If inflation comes in hot, the yield move gets justified. If it cools, expect debate about whether tech oversold.
• What to bring up: Nvidia and AMD both dropped nearly 6% this week — the two names everyone's been riding on AI hype — which tells you profit-taking is real even when the longer-term thesis hasn't changed.
• The GuyTalk Read: This looks like a classic pause after a long run, not a reversal. QQQ had been on a strong run, so a 4% correction over a week is noise rather than a structural signal. What's interesting is that small caps held up — the Russell 2000 is actually up 0.2% on the week — which suggests rotation more than panic. Microsoft closing up 1.8% while pure-play growth names got hit is the tell: the market is rewarding steady AI infrastructure exposure over speculative growth. Bond yields moving higher alongside equity weakness is worth watching — it complicates the usual safe-haven math and puts more pressure on rate-sensitive names heading into next week.
• What to Know:
  • QQQ fell 4.1% on the week; Nvidia and AMD each dropped 5.8%
  • 10-year Treasury yield rose 0.7% on the week
  • Russell 2000 (small caps) up 0.2% week-to-date while large-cap growth sold off
  • Microsoft closed up 1.8%, outperforming the rest of mega-cap tech

• Current Events

  Oil spikes as U.S.-Iran peace talks stall

  What happened: Oil prices climbed after conflicting signals from ongoing U.S.-Iran nuclear negotiations left markets uncertain about Middle East stability and global supply. The uncertainty sent crude higher as traders priced in the risk of talks collapsing.

  Why it matters: Gas prices move with crude, and confusion about whether talks hold or collapse means your fill-up could shift noticeably in either direction within weeks. If talks fall apart, sanctions tighten and prices stay elevated or spike further.

  The GuyTalk Read: This is basic math playing out in real time. If the U.S. and Iran reach a deal, Iranian oil floods the market and prices fall. If talks die, sanctions tighten and prices stay elevated or spike higher. The market hates uncertainty more than it hates high prices, and right now there's plenty of uncertainty to go around. Expect oil price volatility through the summer as the diplomatic picture shifts.

  • Oil prices rose in response to mixed signals from U.S.-Iran peace negotiations
  • U.S.-Iran nuclear talks remain unresolved, creating uncertainty about Iranian oil supply returning to global markets
  • Iranian oil sanctions directly affect global supply — a deal could add significant barrels to the market, a collapse keeps them off

  What to say: Gas could get weird this summer depending on whether the Iran talks actually stick.

• Streaming

  The Day of the Jackal — Watch It

  What happened: Eddie Redmayne plays a freelance assassin — methodical, charming, and completely untraceable — until one investigator gets close enough to matter.

  Why it matters: It is a cat-and-mouse thriller built for guys who want smart tension without superhero nonsense — no explosions, no quips, no plot holes you can drive a truck through.

  The GuyTalk Read: Redmayne's assassin plans obsessively and executes cleanly. The investigator hunting him is just as sharp. It is the kind of show you actually pay attention to instead of doom-scrolling halfway through. If you have been looking for something to put on that does not require you to have watched 47 prior installments, this is it.

  • Eddie Redmayne leads as the titular assassin
  • Thriller format built around a cat-and-mouse investigation
  • Psychological tension over action-movie spectacle — no franchise baggage required

  What to say: If you want a thriller that does not insult your intelligence, this one is it.

• Sports Biz

  Clive Davis, Music Legend, Dies at 94

  What happened: Clive Davis, the music executive who discovered and shaped the careers of Whitney Houston, Bruce Springsteen, and Alicia Keys among many others, died at age 94.

  Why it matters: Davis was not just an executive — he was arguably the most influential tastemaker in the history of the American music industry, responsible for some of the best-selling albums ever recorded.

  The GuyTalk Read: The list of artists Davis signed, developed, or saved reads like a greatest-hits of the last 50 years of American music. Whitney Houston's career in particular was his signature achievement — he heard something in her before anyone else did and built the platform that made her a global icon. The music industry loses a genuine giant here, not a figurehead. His instincts for talent were so consistently right over so long a period that it is hard to find a parallel.

  • Clive Davis died at age 94
  • Davis discovered and developed Whitney Houston, Bruce Springsteen, and Alicia Keys among many others
  • He was one of the longest-serving and most influential executives in the history of the American music industry

  What to say: Clive Davis basically built the soundtrack of the last 50 years — Whitney Houston, Springsteen, Alicia Keys — the guy had the best ear in the business.