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The fertilizer trade as it relates to the Iran war and the Strait of Hormuz is really three trades pointed in different directions.
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After a whipsaw end to the month, the stock market's decline was highlighted by the worst month for chip stocks in 24 years.
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Investors are seeing more signs that the bottom is near, if not already in.
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Microsoft earnings provided optimism for the AI trade, as did the trading activity surrounding a hedge fund's fire sale.
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After a recent sell-off, South Korea's stock market rallied as concerns about overspending on artificial intelligence eased, sending the country's chip shares higher.
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