Chips are running the show today and the rest of the market is just watching.

Chips are running the show today and the rest of the market is just watching.

AMD up 7.68%, closing at 580.91. That's the lead, full stop. Intel right behind it — up 6.01% to 139.63. Two chip names moving like that on the same day isn't coincidence. Nvidia up 2.63% to 200.09. The sector had a session.

Apple up 2.70% to 289.36. Quiet but consistent. Tesla up 2.13% to 420.60 — no drama, just green.

Now the red. Netflix down 3.23% to 71.40. Stands out in an otherwise bullish tape. Eli Lilly off 2.48% to 1,199.43 — give or take, that's a $30 pullback on a four-digit stock. Watch the level. Bank of America down 1.55% to 56.98. Financials didn't get the memo today.

Futures backed the move. QQQ up 1.70%, SPY up 0.78%. VIX sitting at 16.45 — not alarmed. IWM up 0.49%, DIA barely breathing at plus 0.14%. Small caps and Dow lagged. Tech led. That's the story.

Gold data unavailable. Asian markets unavailable. Economic calendar — nothing scheduled.

Earnings on deck: LNN reports before the open, EPS estimate 1.22. Parker Hannifin spinoff PKE also pre-market, estimate 14 cents. After the close, Bassett Furniture — BSET — with an estimate just under 20 cents. CULP reports after the close expecting a loss at negative 11 cents. BABB and EACO also on the calendar with no estimates posted.

Nothing on the macro front today. The tape had to carry itself — and chips made sure it did.

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