AMD down seven percent while Nvidia rips three — that's the divergence you watch all day.

AMD down seven percent while Nvidia rips three — that's the divergence you watch all day.

Futures first. SPY off two tenths. QQQ down nine tenths — tech is the drag. VIX sitting at 15.81, not panicking, not sleeping. Gold data unavailable. Asian overnight — nothing to work with. DIA is the outlier, up four tenths. Dow components holding while growth sells off.

Now the tape.

AMD down 7.04%, closing at 482.05. Earnings aftermath, no sugar-coating.

Eli Lilly up 4.86% to 1169.86. GLP-1 demand isn't slowing.

Google down 4.03% to 362.43. Ad revenue concern, full stop.

Nvidia up 3.43% to 219.22. AI spend narrative intact.

Tesla down 1.77% to 321.55. Volume story, not a catalyst story.

Amazon down 1.72% to 272.65. Cloud guidance doing the damage.

Exxon down 1.51% to 151.63. Oil softness, nothing more.

UnitedHealth up 1.28% to 412.75. Defensive money rotating in.

Microsoft down 1.09% to 487.46. Dragged by the broader tech bleed — no single catalyst, just contagion.

Salesforce up 1.04% to 192.98. Enterprise software catching a quiet bid while the rest of tech sells.

Sector read: growth and semiconductors split in half today — AMD and Google bleed while Nvidia catches a bid. Healthcare and energy diverged the same way. Money is moving fast and not picking sides cleanly.

Economic calendar is empty. No data events to front-run or fade today.

Earnings on deck. ACM Research reports this morning, estimate at 34 cents. Archer Daniels Midland before open, estimate 64 cents — grain and ag traders watch that one. ANI Pharmaceuticals this morning, estimate over two dollars. ARKO and ASIX also report pre-market, lighter estimates. AIRT on the board with no consensus published.

QQQ down nine tenths pre-market with AMD already wrecked and Google soft — tech bulls need Nvidia to carry a lot of weight today.

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