Semis are getting punished and tech futures are ugly — this is not a soft open.

Semis are getting punished and tech futures are ugly — this is not a soft open.

INTC down 9.66% to 110.39. That's a crater, not a dip. AMD off 6.51% to 516.11 — the whole sector is bleeding. TSLA drops 4.02% to 402.90, no single catalyst, just pressure across growth. Three names, one read: tech is getting hit hard pre-bell.

Flip side. XOM up 3.85% to 141.69 — rotation into energy is real. LLY gains 2.96% to 1235.56, healthcare holding its ground. META adds 2.55% to 615.58, UNH up 2.44% to 428.19, CRM tacks on 2.34% to 169.52. Defensives and selective mega-cap names are catching bids while semis burn — that spread tells you exactly where money moved overnight.

Not everything in semis is equally wrecked. AVGO off less than a percent at 370.78, NVDA basically flat. The damage is concentrated — INTC and AMD are the bleeding edge, not the whole group. That distinction matters.

Futures: QQQ down 1.85%. That's the headline. SPY off 0.48%, IWM down 0.91%, DIA holding at minus 0.31%. Nasdaq is carrying the pain. VIX at 18.27 — elevated but not panicked. Gold down 1.61%, which is unusual when equities are soft. Watch that divergence.

Asian markets unavailable this morning.

Economic calendar is empty. No data drops, no Fed speakers on the board. Price action is the only story today.

Earnings: BYRN reports before the open, EPS estimate at negative 11.99 cents. CCEL also pre-market, estimate at zero. EDUC reports after the close. CBFC, CIBH, and CNBB have no estimates on the tape. None of these move the broader market, but know what's on your screen before the bell rings.

Bottom line: semis are the wound, energy is the hedge, and QQQ futures are flashing yellow. No macro catalyst scheduled to reverse this. The open is on the sellers until proven otherwise.

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