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US markets are surging to new all-time highs. The SandP 500 closed at 7,165 on Friday, April 24, a fresh record. The Nasdaq Composite hit 24,837, also a record.

But the real story is in semiconductors. The Philadelphia Semiconductor Index has gained for 18 consecutive trading days. This broke the previous record of 15 set in 2014 and marked the longest winning streak in the index’s 32-year history. The index is up 40 percent in April, putting it on track to its biggest monthly gain since February 2000. Since the rally began on March 31, the world’s top chipmakers have added roughly $3 trillion in market value. Nvidia alone reclaimed a $5 trillion market cap last Friday.

In my more than 50 years in the stock market and over 20 years of writing this column, I have never seen anything like this.

Intel breaks a 26-year ceiling

The rally was punctuated by Intel finally clearing its dot-com era high for the first time in 26 years. Last Friday, the chipmaker surged by 24 percent, its best single day jump since October 1987. Intel reported first-quarter revenue of $13.6 billion, beating estimates by more than $1 billion, and guided second-quarter revenue to as much as $14.8 billion.

The turnaround was not accidental. In August 2025, the US government took a 9.9 percent stake in Intel, an $8.9 billion investment funded by converting unpaid CHIPS Act grants into equity. A month later, Nvidia announced a $5 billion equity investment of its own, paired with a partnership to build custom CPUs that link to Nvidia’s GPUs through NVLink. Two of the most powerful actors in technology, the US government and the world’s most valuable company, both bet on Intel within weeks of each other. Last Friday, those bets paid off with Intel’s spectacular run-up.

A global supply chain run-up

It is the entire technology value chain moving together. SK Hynix hit a record. Samsung Electronics posted record Q1 operating profit of 57.2 trillion won, or roughly $38 billion, the strongest quarterly result in South Korean corporate history. ASML, the Dutch maker of the lithography machines that produce every advanced chip in the world, reported Q1 revenue of pound 8.8 billion and raised its full-year guidance.

From the foundries in Taiwan to the memory makers in Korea, from the lithography equipment in the Netherlands to the chip designers and hyperscalers in the US, every link in the global semiconductor supply chain is profiting from the same AI capex cycle.

Follow the money

Why is this happening all at once? Follow the money. The four largest US hyperscalers, Amazon, Alphabet, Meta and Microsoft, have collectively committed to spending more than $600 billion on capital expenditure in 2026, nearly doubling 2025 levels. Amazon alone plans to spend $200 billion. Alphabet doubled its guidance to $175 to $185 billion. Meta raised its target to as much as $135 billion. Microsoft is on track for $120 billion or more.

All this spending goes straight to the supply chain. It pays for TSMC’s foundries, Samsung’s and SK Hynix’s memory chips, ASML’s lithography machines, Nvidia’s GPUs and Intel’s CPUs. It is why every link in the chain is moving in sync. No other country has companies investing at this scale.

Diversifying and gaining exposure

The story we have just told plays out in New York, Taipei, Seoul and Amsterdam. For our readers and investors who want to diversify and gain exposure to this AI-driven industrial revolution, we recently launched the Philequity Global Fund. Those who want to read, learn more or invest can visit us at www.philequity.net. We have been writing about diversification and global investing for years.

From crisis to opportunity

This rally came out of nowhere. Four weeks ago, the SandP 500 was at its 2026 low, down by seven percent on the year. Oil had surged past $100, the Strait of Hormuz was effectively shut, and the consensus was that the war in the Middle East would finally end the US market’s run. The same technology and semiconductor names that had fallen hardest led the recovery. The war was actually a buying opportunity for US stocks.

We made that case last week (see ‘USA Wins,’ April 20, 2026), explaining why US stocks were rising despite the war. The conflict did not change the narrative for the AI revolution. It may have caused a temporary pause, but the innovation, the earnings and the technological change all continue.

Why US stocks keep winning

Every 10 to 15 years, the US gives birth to a new technology platform that becomes the growth engine of the world. In the 1990s, it was the Internet. From 2007, it was Mobile. From 2015, it was Cloud. Since 2023, it has been Artificial Intelligence. These cycles are all US-originated. The companies building each platform are American. The capital follows the innovation.

The $600 billion capex wave, TSMC’s record earnings, the semiconductor rally, the massive datacenters and power infrastructure, the mega-IPO pipeline: these all flow from the same source. The world’s most important technologies are invented in the US, funded by US capital markets and built by US companies. The Internet, Mobile and Cloud cycles each ran for a decade or more. This AI cycle is history in the making. So is the US stock market. We are seeing it right before our eyes.

Bearish sentiment is expected to prevail in the coming days given the continuing uncertainties stemming from the Middle East conflict and growing concerns over faster inflation this April.

The Philippine Stock Exchange index (PSEi) comes from a three-day losing skid last week, finishing at 5,943.49 on Friday, down by 0.93 percent week-on-week.

Unicapital Securities head of research Wendy Estacio-Cruz said the PSEi edged lower as the combination of tighter monetary policy and lingering geopolitical risks kept the market largely flat, with investors adopting a wait-and-see approach as they assessed the broader implications on inflation, interest rates and economic growth.

She said the Bangko Sentral ng Pilipinas’ 25-basis-point rate hike last week tempered risk appetite for equities.

‘This week, the PSEi is expected to trade sideways with a slight downward bias, as investors remain cautious amid persistent inflation concerns and the prospect of further policy tightening,’ Estacio-Cruz said.

First Metro Investment Corp. head of research Cristina Ulang, for her part, said the market has its eyes on progress of the next round of US-Iran peace talks.

Ulang said any positive development will reignite appetite, while any setback will keep PSEi trapped in sideways movement around 5,900 to 6,100.

‘Inflation shooting up above five percent in April will weigh on sentiment and drag PSEi lower in the 5,850 to 5,950 range,’ she said.

Philstocks Financial research manager Japhet Tantiangco said the local market is already on a two-week losing streak and is now trading below the crucial 6,000 line.

With the market already giving up its ground at 6,000, Tantiangco said its new support is now seen at 5,800.

However, despite being at a bargain, the local market is still seen to have a bearish default in this week’s trading, he said.

‘Lingering uncertainties on the Middle East war amid the lack of a compromise among the countries involved, and the expectations of rising inflation and interest rates at home are expected to continue weighing on sentiment,’ Tantiangco said.

‘The peso’s weakness, if sustained, is also expected to negatively affect the local bourse. Still, the market’s bearish default could be negated if we see positive developments in the geopolitical tensions in the Middle East,’ he said.

There will be no trading on May 1 in observance of Labor Day.

Cebuano sportsman Engr. Jerry Maratas accomplished a milestone in his golf career after he scored a hole-in-one on the 14th hole of Mactan Island Golf Course in Lapu-Lapu City on Sunday, April 26.

Maratas used a TaylorMade Hybrid club and a Titleist ball in achieving the rare feat witnessed by his flight mates Jason Arquisola, Romeo Aguilon, and Dr. Samuel Mendero III.

‘After nearly a decade of playing golf (and thousands of bad shots), I finally achieved the coveted hole-in-one!,’ Maratas wrote on his Facebook page.

‘It happened today at the island green (Hole 14) of Mactan Island Golf Course. From 160 yards out, playing against the wind, I chose my 5-hybrid. The ball landed about a club short…then rolled straight into the hole,’ he added.

The longtime president of the Cebu Executives and Professionals Chess Association (CEPCA) earned a special prize of P100,000 for the ace.

‘Still feels surreal – after all those bad shots, one perfect swing made it all worth it,’ Maratas continued. ‘Grateful to my flight mates on this round – Dr. Samuel Mendero, Jason Arquisola, and JR Aguilon – for the never-ending kantyawan.’

‘Thank you, Lord, for this incredible blessing!,’ Maratas concluded.

More than half of the 36 mayors in Maguindanao del Sur and Maguindanao del Norte have joined the Bangsamoro Federalist Party, which has fielded candidates for the parliament of the autonomous region in its first regional elections on September 14 this year.

Besides the mayors, a number of municipal councilors, vice mayors, and traditional Moro leaders from across Maguindanao del Sur and Maguindanao del Norte also attended separate caucuses of the Bangsamoro Federalist Party on Sunday, April 26, where officials discussed its peace and development initiatives for Muslim, Christian and non-Moro indigenous communities in both provinces.

The new members of the Bangsamoro Federalist Party took their oath and pledged to support its peace and development agenda during the two gatherings, one held in Talayan, Maguindanao del Sur and the other in Cotabato City, the capital of the Bangsamoro Autonomous Region in Muslim Mindanao.

The Bangsamoro Federalist Party is one of more than 10 political blocs that the regional office of the Commission on Elections in Cotabato City has allowed to participate in the upcoming September 14 BARMM parliamentary elections.

Two ranking officials of the Bangsamoro Federalist Party, Tomanda Antok and Naguib Sinarimbo, both members of the 80-seat BARMM parliament, led the activities in Talayan and Cotabato City.

‘We shall also be reaching out to leaders in other provinces and cities in the autonomous region who had signified intention to join the Bangsamoro Federalist Party,’ Sinarimbo told reporters on the sidelines of their activity at the Al-Nor Complex in Cotabato City on Sunday afternoon.

The core territory of BARMM encompasses the provinces of Maguindanao del Sur, Maguindanao del Norte, Lanao del Sur, Basilan and Tawi-Tawi, as well as the cities of Lamitan, Marawi and Cotabato.

The party’s new members took their oath and pledged to abide by its rules during both events, held in the presence of their relatives and supporters, including barangay officials.

The new members of the Bangsamoro Federalist Party also assured support for the efforts of the Comelec, the police, and the military to ensure peaceful and honest elections in BARMM on September 14.

The ASUS Zenbook S16 2026 debuts in the Philippines as a stylish ultrathin laptop with serious AI performance under the hood, built for users who refuse to compromise between looks and capability.

We had our hands on it, and it’s immediately clear this isn’t just another pretty laptop that only looks the part. It’s slim, sleek and surprisingly powerful, a premium everyday machine that feels as good as it performs.

The ASUS Zenbook S16 2026 makes a strong case for itself and here are six reasons why we think it stands out.

1. It’s impressively ultrathin – just 1.1 cm

At just 1.1 cm thin and around 1.4-kg light, the Zenbook S16 is designed for people who are constantly on the move. It slips easily into backpacks, or in my case, tote bag, making it ideal for hybrid workers, students, creatives and frequent travelers who want a machine that won’t weigh them down.

Considering it’s a 16′ laptop, you would think devices like this would be bulky, but surprisingly, it actually fits the ‘bring it everywhere’ lifestyle. It’s slim enough to feel effortless in transit, but still substantial enough to feel premium when you pull it out at a meeting, on a flight or at your favorite work spot.

But a thin laptop is one thing. A thin laptop that still feels elevated is another.

The Zenbook S16 comes in Scandinavian White and features ASUS’ exclusive Ceraluminum material, which gives it a polished, premium finish while also helping keep the chassis light and durable.

That matters more than people think. If you’re using your laptop every day, tossing it into bags and bringing it from one place to another, design isn’t just about aesthetics, but also how well it holds up over time.

For the Zenbook S16, it doesn’t just look stylish out of the box, but also feels built for real-life use.

2. A 16-inch OLED display that elevates everything

If you spend hours staring at a laptop, the screen can make or break the experience, and this is one of the first things I appreciated about the ASUS Zenbook S16 2026.

It features a 16-inch 3K ASUS Lumina OLED touchscreen with a 120Hz refresh rate and 16:10 aspect ratio, which in real life translates to sharper visuals, richer colors and smoother scrolling whether I was working or just watching content.

For me who’s used to using a 13-inch laptop, the extra screen space also came in handy for productivity. I had more room for documents, browser tabs and editing timelines, without the laptop ever feeling too bulky to bring around. I especially noticed the smoother visuals and richer colors while video editing and streaming, helped further by the laptop’s solid audio.

The touchscreen also adds a nice bit of flexibility, whether for editing, presenting or just navigating more intuitively. Overall, it’s easily one of the biggest highlights of this ultrathin laptop.

3. AI power that keeps up

This is where the AI laptop side of the Zenbook S16 really comes in.

It’s powered by the AMD Ryzen AI 9 465 processor with a 50 TOPS NPU, which means it’s equipped to handle newer AI-powered workflows more efficiently, whether that’s smarter productivity tools, AI-assisted creation or features built into the Windows ecosystem.

The laptop is also a Copilot+ PC, meaning it comes ready for the latest AI integrations in Windows 11. That gives users access to a more future-ready experience, especially as AI becomes more embedded into how people work, create and organize their daily lives.

Put simply, the ASUS Zenbook S16 2026 goes well beyond basic productivity. It is faster in AI-asisted tasks and smarter with productivity tools, plus performs better on creative workflows.

Lastly, as an ASUS Ryzen 9 laptop, it’s built to keep pace with the way modern work is evolving, and that’s what makes it worth a closer look.

4. Built to handle serious multitasking

With 32GB LPDDR5X RAM and a 1TB PCIe 4.0 SSD, the Zenbook S16 is more than capable of handling demanding workloads. For an ultrathin laptop, the performance ceiling here is impressively high.

In my experience, it handled the kind of multitasking that usually starts to slow slimmer laptops down, like multiple tabs open, music in the background, and even some editing work on the side, without feeling like it was struggling to keep up.

That makes it especially ideal for professionals managing heavier workflows, or creators working on high-resolution content who constantly need to switch between tasks.

5. Battery anxiety? Not found.

At first, I was actually pretty conscious about the battery. With a 16-inch screen and a display this vivid, I honestly expected it to drain faster, especially during longer stretches of work.

But the Zenbook S16 ended up being more reassuring than I expected. It packs an 83Wh battery with up to 21 hours of usage, and in real-life use, that translated to something more important: I wasn’t constantly checking the battery icon or mentally planning my day around where I could charge next.

That made a huge difference, especially for a laptop clearly built for mobility as it gave me the kind of freedom you really need.

6. It’s generous right out of the box

The laptop itself already ticks a lot of boxes, but the out-of-box inclusions make the package even more compelling. The Zenbook S16 comes with:

ASUS Quality and Service Package:

2-year international warranty

1-year accidental damage protection

ASUS exclusive laptop sleeve

Office 2024 Home lifetime license

1-year Microsoft 365 Basic

Free 1-year cloud storage

That means more than buying the hardware, you’re also getting practical add-ons. These give real everyday value, especially when you’re looking at a premium machine that’s meant to be used as an all-around productivity and lifestyle device for a long time.

TLDR: Thin, smart and ready for modern life

The ASUS Zenbook S16 2026 works because it gets the assignment. It’s ultrathin and lightweight enough to bring anywhere but still packs the kind of specs that make it feel genuinely capable for everyday work and creative use.

You’re getting a 1.1 cm-thin Ceraluminum chassis, AMD Ryzen AI 9 465 processor with up to 50 TOPS NPU, a Copilot+ PC, a 16-inch 3K 120Hz ASUS Lumina OLED touchscreen, and an 83Wh battery with up to 21 hours of use-all in a machine that still feels sleek and lifestyle-friendly.

More importantly, it doesn’t just look good on a desk. It feels built for how people actually work now: on the go, across multiple tasks, and increasingly with AI in the mix.

If you’ve been looking for a premium AI laptop that can balance work, style and mobility, this one makes a pretty convincing case.

Two Americans were among those killed in the armed encounter between the military and New People’s Army (NPA) in Toboso, Negros Occidental last week, the National Task Force to End Local Communist Armed Conflict said.

NTF-ELCAC executive director Ernesto Torres Jr. over the weekend said Lyle Prijoles and Kai Dana-Rene Sorem were identified among the 19 dead in the clash on April 19.

Prijoles was reported to have been an active member of Anakbayan-USA since 2012, based on information from his publicly accessible Facebook profile, where he indicated that he served as the organization’s solidarity officer until 2016 before assuming the role of education officer from 2016 to 2019.

Anakbayan-USA is another organization linked to the communist movement, alongside Bayan-USA. His profile also indicates that he studied at San Francisco State University in California.

‘We extend our deep condolences to his family. His passing is a tragedy. But it is also a warning,’ Torres said in a statement.

Sorem, from Tacoma, Washington, was also reported by the Philippine Army as a founding member of Anakbayan USA.

The task force warned Americans of Filipino descent in the US to be wary of being lured by left-wing activist groups into joining or supporting Filipino insurgents in the Philippines in a recruitment process it described as ‘terror-grooming.’

‘What is increasingly evident is the emergence of a disturbing pattern involving members of the Filipino-American community – from Chantal Anicoche, to Cristina Pasion, and now Lyle Prijoles – whose cases raise serious concerns about how individuals are being influenced, guided, or drawn into situations that ultimately place their lives at grave risk,’ Torres said.

On Jan. 8 this year, Filipino-American activist Anicoche, 24, was also rescued by Army troops, following an encounter with a group of NPA rebels in Abra de Ilog, Occidental Mindoro.

The US and the Philippines have separately designated the NPA as a terrorist organization.

Torres said the facts surrounding the Toboso encounter, an engagement triggered by civilian reporting, involving a ranking NPA leader with a P1 million bounty, the recovery of firearms, a wounded soldier, and the arrest of fleeing elements, showed that those present were in a live combat environment, not a civilian setting.

The Philippine Army denied allegations on social media that those killed during the encounter were not NPA insurgents but civilians.

Human rights groups called for an independent probe, saying that civilians were killed, including a student leader from the University of the Philippines, two local advocates for farmers’ rights and a local community journalist who wanted to show support for impoverished villagers.

Mamamayang Liberal party-list Rep. Leila de Lima and ACT party-list Rep. Antonio Tinio are pushing for a congressional investigation into what had transpired, to find clarity and the truth, as the Commission on Human Rights has started its probe of the incident in Negros.

The Miss Universe Philippines (MUPh) organization announced the first half of its qualifiers for the 2026 Top 20 quarterfinalists.

The Top 10 delegates who will advance to the quarterfinals, in alphabetical order, are:

Jensel Mansala Caña (Cavite)

Charieze Lianne Cacayorin (Ilocos Norte)

Lyneree Montero Yodong (Mountain Province)

Alexandria Colmenares (Negros Occidental)

Donna Rein Nuguid (Pangasinan)

Patricia Ella Evangelista (Quezon Province)

Alicia Chelsea Buendia (Rizal Province)

Jayka Noelle Munsayac (San Jose, Negros Oriental)

Jenrose Javier (Sultan Kudarat), and

Chrystel Mae Correos (Tandag City)

Half of those who placed on the April 23 canvassing were scrapped from this new list.

They were:

Erica Jean Cadayday (Camiguin)

Neil Silva (Occidental Mindoro)

Jacqueline Aluning (Nueva Vizcaya)

Alexandra Krishna Oriño (Albay), and

Michelle Burchelle (Nueva Ecija)

Eliminated delegates may still qualify as wild cards, if and when they top either the Pina Beauty or Maya online voting that ends on coronation night.

Catch the exciting Miss Universe Philippines 2026 finale on May 2 at the SM Mall of Asia Arena. Stay tuned!

One of the country’s major grocery chains is redefining the traditional fun run with the annual ‘Hakot Relay’, turning a race into a timely lifeline as Filipinos confront rising prices of basic goods and household staples.

Kicking off its 2026 Hakot Relay series in Iloilo on April 25, Puregold Price Club Inc. gave away at least 12,000 grocery packs to runners on the second year of the race, providing them vital support during challenging times.

Each pack contained everyday necessities, from pantry essentials and snacks to hygiene and household cleaning supplies.

Held along the scenic Iloilo Sunset Boulevard, the 2026 Puregold Hakot Relay drew no less than 4,000 participants from across the Visayas, including Antique, Bacolod, Cebu and Panay.

The event proved to be a showcase of Puregold’s caliber in delivering large-scale, on ground experiences. Building on the success of its inaugural Hakot Relay in 2025, which went viral for its unprecedented race loot, this year’s event gave Visayas runners the signature Puregold race experience, complete with finisher medals, race waves, loot stations with surprise item drops, exclusive event merchandise, and other on-ground activities.

Participants also got to enjoy live performances from top OPM acts, including Pinoy hip-hop icons Skusta Clee and Flow G.

‘We’re happy to introduce the Hakot Relay to more regions this year, starting with the Visayas. It’s our way of giving back by helping in a simple but meaningful way. Seeing the positive response from our Iloilo customers and participants makes this leg deeply fulfilling for us,’ said Puregold President Vincent Co.

The company said Southern Luzon and Metro Manila legs of the Hakot Relay will be held soon.

Team Philippines continued making waves in the sands as the women’s sprint team bagged a silver medal in beach athletics while the Alas Pilipinas beach volleyball squads both reached the quarterfinals with the country keeping its hold on third place overall yesterday in the 6th Asian Beach Games here.

Jessica Rose Laurance added a silver medal to her bronze won Saturday by teaming up with Shane Joy Ponce, Lianne Diana Pama, and Olympian Kristina Marie Knott as the quartet finished second in the 4×60 meter relay at Phoenix Island.

By noon yesterday, the official medal tally showed the Philippines in third place with three gold, two silver, and two bronze medals behind second-running Thailand with a 4-5-3 haul and host China which leads the pack with 13-11-4.

The Pinoy bets’ campaign in this resort city is supported by the Philippine Olympic Committee under President Abraham ‘Bambol’ Tolentino and the Philippine Sports Commission helmed by chairman Patrick ‘Pato’ Gregorio.

‘It’s so different. There’s no baton. The exchange zone is three meters versus 30 meters. So, I think that was our only enemy in the race – the zone,’ Knott said.

It’s another taste of sweet victory for Laurance.

‘It feels great. Honestly, I came here not knowing what to expect. I really just wanted to have fun and see what I could do on sand,’ Laurance said.

‘I’ve never run on sand and I really beat my expectations. So, I’m really happy.’

Over at the Tianya Haijiao Venue Cluster, Sunny Villapando and Grydelle Matibag clobbered Sri Lanka’s Shehani Ashanga Wattelage and Ktl Alawaththage, 21-15, 21-13 in their Round of 16 tiff.

The Phl pair will take on Japan’s Matsumoto Ren and Matsumoto Non today.

Five people were arrested by the National Bureau of Investigation over alleged illegal notary public service in Manila, the NBI reported yesterday.

Agents of the NBI-Fraud and Financial Crimes Division conducted the operation on April 23 following a complaint from a commissioned notary public who reported that her notarial commission, including her stamp and seal, was being used without her consent.

The complainant also alleged that her signature was being falsified in notarized documents.

Authorities verified the report through a test-buy operation, which confirmed that the suspects were using the complainant’s notarial details and forging her signature.

An entrapment operation was conducted after an NBI agent posed as a client and submitted an affidavit of loss for notarization.

The suspects will face charges of falsification of public documents, possession of instruments intended for falsification and attempted estafa.