Futures soft, gold ripping 3.35%, and CRM is already bleeding — Friday's not playing nice.

Futures soft, gold ripping 3.35%, and CRM is already bleeding — Friday's not playing nice.

Futures first. SPY down 0.16%. QQQ off 0.37%. Small caps worse — IWM down 0.51%. Dow lagging hardest, DIA minus 0.85%. VIX sitting at 15.21, not panicked but not relaxed either. Gold up 3.35% — that's a defensive move, full stop.

Asian markets unavailable this morning. No data, no read. Watch the opens in Europe for directional cues.

Nothing on the economic calendar today. The tape trades the tape.

Now the stocks.

CRM down 3.22% to 186.77 — biggest drag in this lineup, something spooked the room. UNH down 2.13% to 403.97 — healthcare selling off, not isolated. GOOGL down 1.29% to 357.75, quiet bleed. Intel off 1.24% to 99.81 — still no floor found.

Flip side. Microsoft up 2.54% to 499.86, nearly touching 500 — cloud narrative holding. XOM up 2.12% to 154.84, energy catching a bid with macro jitters. Eli Lilly up 1.89% to 1191.94 — weight loss trade still has legs. AMD up 1.50% to 489.28, chips mixed but AMD holding green.

Sector read: Tech is split — hyperscalers up, enterprise software and legacy chips down. Energy and pharma catching defensive rotation.

Earnings on deck. Before the open: ACMR with a consensus estimate of 34 cents. AD estimated at 64 cents. ANIP expected to print 2.09. Also reporting pre-market: PFSB, STSR, and AIRT — no consensus estimates available on those. Watch for reactions in the first 30 minutes.

That's your setup. Futures soft, gold hot, tech split, and a handful of small-cap earnings landing at the open. Know your levels.

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