KG Analyzes Crude's Steady Rise, New Canadian Tariffs & ASML New AI Deals

• S&P 500 shows healthy consolidation and upward trajectory, but September brings volatility concerns from inflation data, Fed meetings, and geopolitical risks.
• Oil prices are rising due to low distillate inventories, high refiner utilization, and upcoming winter demand, with WTI crude approaching the $95-$105 range where government intervention is possible.
• Canada has imposed retaliatory tariffs of 15-50% on US goods, including steel and consumer products, adding to trade tensions between the two allies.
• ASML has secured commitments from Samsung and TSMC to adopt its latest lithography equipment for high-volume chip manufacturing by 2028-2030, boosting efficiency and supporting the AI trade.

Kevin Green provides a mixed outlook, noting healthy long-term stock market rotation and positive technicals for the S&P 500, despite expected September volatility from inflation and Fed actions. He highlights rising oil prices due to low distillate inventories and winter seasonality, alongside new retaliatory tariffs from Canada on US goods. ASML's new lithography deals with Samsung and TSMC are seen as a positive tailwind for the AI chip industry.