The Dow Jones Industrial Average (DJIA) is drifting near the 50,750 level, barely changed, while the broader market surges on the back of a powerful semiconductor recovery. Friday’s session was a pure chip story, with the Nasdaq dropping 4.2% in its worst single-day performance since April 2025, while the major semiconductor ETF fell roughly 10%. Nvidia and Broadcom are pulling the Nasdaq higher alongside Micron, but the Dow carries no Micron, no Broadcom, and only modest chip exposure overall, keeping it structurally detached from the rebound. Headline CPI is forecast at 0.5% month-on-month and 4.2% year-on-year against April’s 3.8%, while core is expected at 0.3% month-on-month and 2.9% year-on-year against the prior 2.8%. Friday’s University of Michigan consumer sentiment release will deliver updated one-year inflation expectations, which were running near 4.8% last month, rounding out a data-heavy stretch with no obvious bullish reprieve.