9am Hour: Stocks Shrug Off U.S-Iran Tensions, Chips Surge, PepsiCo CEO "First On CNBC" 7/9/26

Chip stocks lead market gains as investors weigh bullish demand commentary against ongoing geopolitical tensions in the Middle East, which have disrupted tanker traffic and pressured oil markets. Major technology firms continue to aggressively expand AI computing capacity, raising questions about the long-term return on capital and the potential for enterprise cost-cutting as companies shift toward open-source models. PepsiCo CEO Ramon Laguarta addresses recent consumer headwinds, attributing sluggish North American performance to inflationary pressures and changing spending habits, while emphasizing the company's strategic pivot toward functional, portion-controlled products to navigate the impact of GLP-1 weight-loss drugs. Meanwhile, the broader software sector faces volatility amid concerns over slowing adoption of AI-driven tools, with analysts scrutinizing the sustainability of current capital expenditure levels across the hyperscaler landscape.