Home Market Outlook Today's Market Summary Semiconductor stocks paused after a historic rally, with the Philadelphia Semiconductor Index dropping 3% but remaining supply constrained and supported by strong hyperscaler demand. April's CPI showed broad-based inflation pressures, with core inflation rising above expectations and the Fed’s 'Supercore' measure back above 3%. Real wages are now declining on an annualized basis for the first time in three years, pressuring consumer spending as temporary offsets like tax refunds fade. The AI infrastructure boom and wealth effect from record-high equities are sustaining growth, but rising delinquencies and wage stagnation pose risks if market momentum falters. This idea was discussed in more depth with members of my private investing community, The Portfolio Architect. Learn More » Getty Images Stocks struggled yesterday under the weight of higher oil prices, rising interest rates, and the harsh reality that the war in the Middle East isn’t ending anytime soon.…