Tech is bleeding into Tuesday and the only green name in the room is Intel — let that sink in.
Tech is bleeding into Tuesday and the only green name in the room is Intel — let that sink in. Futures first. SPY down 0.47. QQQ down 0.16. DIA down 0.49. IWM down 0.34. VIX sitting at 15.72 — not panic, but not comfortable. Gold up 0.68, which tells you where the cautious money is parking.
Transcript
Tech is bleeding into Tuesday and the only green name in the room is Intel — let that sink in.
Futures first. SPY down 0.47. QQQ down 0.16. DIA down 0.49. IWM down 0.34. VIX sitting at 15.72 — not panic, but not comfortable. Gold up 0.68, which tells you where the cautious money is parking.
Asian markets unavailable this morning. No economic calendar events scheduled. Clean data day.
Now the stocks.
META down 3.54%, $568.97. Biggest loser in today's lineup. Heaviest hit. MSFT down 3.04%, $480.35. Enterprise selling, broad rotation. Netflix down 2.74%, $76.02 — that price looks wrong against recent highs, watch the level. CRM down 2.67%, $190.97. SaaS taking hits across the board. ORCL down 2.57%, $146.65. Cloud names getting repriced. AMD down 1.63%, $506. Chips soft but holding better than the software crowd. UNH down 1.52%, $395.62. Healthcare defensive or not, it's still red. And then there's Intel — up 0.97%, $103.49. Only winner in the group. Turnaround narrative keeping buyers in.
META and MSFT leading the damage at three-plus percent each. The QQQ futures gap versus single-name moves tells you the index is masking how hard individual names are actually getting hit. The pain is concentrated, and it's concentrated in the names that were supposed to be safe.
BAC down 0.93%, $63.89. XOM up 0.85%, $161.46. TSLA down 0.87%, $339.30. WMT down 0.82%, $114.33. Outside the headline tech wreckage, banks are soft, energy is the one sector catching a bid, and even the defensive names aren't holding clean.
Earnings today. ADI reports before the open — consensus EPS estimate 3.3681. That's the only name with meaningful street coverage in today's lineup. AARD, ACRV, ADGM, ALMS, ALVO all reporting — all loss estimates, all smaller names. ADI is the one to watch.
No macro catalysts scheduled. No Fed speakers on the calendar. Price action is the only story today, and right now that story is red.
Numbers don't lie. People do. Trade accordingly.