Jim Puplava

Executive Summary AI Ups and Downs: Investors rotated beyond Nvidia into networking, optics, servers, software, and infrastructure providers only to correct hard on Friday due to rising yields and profit-taking. Oil Roars Back: Crude oil surged above $96 per barrel as U.S.-Iran tensions intensified, fueling inflation concerns and creating winners and losers across sectors.

Executive Summary Inflation may be shifting from cyclical to structural due to deglobalization, energy shortages, and AI infrastructure demand. Retirees face the risk of becoming too conservative too early in retirement. Rising inflation requires focusing on preserving purchasing power, not just preserving account balances. Diversification across asset classes, tax treatments, and income streams may improve retirement resilience.

In the first four months of 2026, Americans rejected or restricted more data centers than they did in all of 2025. The numbers tell the story: 49 rejections last year, 79 already this year. Something has snapped. A backlash is building against the physical infrastructure of the AI boom, and it's bipartisan, emotional, and growing fast. Robert Bryce, a veteran energy reporter who has spent the last 16 years cataloging local revolts against energy projects, says he has never seen anything like it.