Tech is ripping into Friday and AMD is leading the charge.

Tech is ripping into Friday and AMD is leading the charge.

AMD up 5.67%, sitting at 546.72. Chips are the story this morning. META up 4.7% to 631.48 — momentum. Broadcom up 3.2% at 401.11, confirming the sector isn't a one-name trade. TSLA up 3.17% at 406.55, no catalyst needed when sentiment runs this hot. ORCL up 2.65% at 144.22 — cloud names catching a bid.

Now the other side. COST down 4.21% to 912.97 — that's a real hit on a defensive name. XOM off 2.6% at 137.46, energy getting no love today. CRM down 2.45% at 162.50, lagging while the rest of software runs.

Futures confirm the skew. QQQ up 1.66%. SPY up 0.85%. IWM up 1.28%. DIA barely moves at plus 0.27% — this rally is tech-led, not broad. VIX sitting at 15.93, calm enough to let momentum run. Gold down 0.36%, risk-on posture holding.

Asian markets unavailable this morning.

Nothing on the economic calendar. Clean tape, no scheduled landmines.

Earnings side — DAL reports before the open. Estimate is 1.47. Airlines have been a choppy trade; watch whether Delta prints above that number and how guidance lands. AMBK, BUKS, FGFH, GDHG, and GDST also reporting. Smaller names, but check your positions.

The read here is simple. Semis and mega-cap tech are dragging the market higher. Defensive and energy are getting sold into that strength. When COST drops 4% on a green tape, someone is rotating out, not just taking profits.

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