Chips ran the table today and the rest of the market had to watch.

Chips ran the table today and the rest of the market had to watch.

Intel up 10.64% to 133.99 — that's the headline. Whatever lit that fuse pulled the whole sector with it. AMD up 4.86% to 537.37. Broadcom up 4.7% to 411.35. Nvidia up 2.95% to 210.69. Four chip names. All green. All significant.

Amazon up 2.9% to 244.39 — tech broadly caught the bid. Meta up 1.7% to 577.22. Google up 1.17% to 368.03. The mega-caps leaned in behind the semiconductor move.

Now the other side. JPMorgan down 2.47% to 325.22 — financials didn't participate. Salesforce down 2.09% to 151.78. Exxon down 2.08% to 137.81. Costco down 1.46%. Eli Lilly down 1.21%. Energy and software both faded while semis flew. That split matters.

Futures told the same story. QQQ up 2.51% — tech leads. SPY up 0.78% — broader market came along for a partial ride. DIA down 0.15% — Dow sat it out entirely. IWM up 1.97%, so small caps joined the move. Gold slipped 0.27%. VIX data unavailable. Asian markets unavailable tonight.

No economic calendar events scheduled for Monday. Clean tape on that front.

Earnings to watch. FedEx reports after the close — consensus sitting at 6.02 EPS. That's the number to beat. General Mills also after the close, EPS estimate 0.84. CBRS reports after the bell with a negative estimate at negative 0.16. ATXG, CLRC, and GRCE also on the docket — GRCE carrying a negative 0.23 estimate.

FedEx is the one the market will react to. Watch how the print lands against 6.02.

Bottom line: semiconductors dominated the session. Everything else was either along for the ride or left behind. Rotation within tech was clear. Financials, energy, healthcare — not today.

Numbers don't lie. People do. Trade accordingly.