The S&P 500 is holding near record territory with a modest 0.4% pre-market lift as easing geopolitical headlines provide a brief risk-on breather, but internal divergence remains sharp โ AI infrastructure and storage names are drawing fresh inflows while legacy growth and defensives lag on capex scrutiny. ๐ค Oil is stabilizing after yesterdayโs volatility, with WTI hovering near $88 as the Hormuz premium eases slightly, yet tariff uncertainty and upcoming macro data keep volatility elevated at VIX 24. Emerging markets are showing resilience, with Asiaโs STI edging higher on bank strength and Latin Americaโs commodity flows pulling selective capital amid dollar dips to 94. QTโs liquidity buffer is keeping downside limited, but any hot inflation print could amplify swings. Hereโs whatโs m