Tech is getting hit from every angle this morning and the QQQs are already telling you the story before the bell.
Tech is getting hit from every angle this morning and the QQQs are already telling you the story before the bell. Futures first. SPY down 0.68%. QQQ down 1.69% — that spread says this is a tech-specific bleed, not a broad market panic. IWM down 1.26%. DIA holding at minus 0.24%. VIX at 15.77, not…
Transcript
Tech is getting hit from every angle this morning and the QQQs are already telling you the story before the bell.
Futures first. SPY down 0.68%. QQQ down 1.69% — that spread says this is a tech-specific bleed, not a broad market panic. IWM down 1.26%. DIA holding at minus 0.24%. VIX at 15.77, not alarming but creeping. Gold up 1.21% — someone is hedging.
No Asian market data overnight. No economic calendar today. Eyes stay on price action.
Now the tape.
INTC down 6.58% to 96.69. Worst on the board. Intel is structurally struggling and the market keeps making that point.
META down 4.45% to 543.67. No single catalyst, but when QQQ drops 1.7% pre-market, mega-cap pays the tax.
AMD down 4.27% to 484.39. Semis are getting punished broadly — this is not AMD-specific.
AVGO down 3.17% to 380. Same sector, same story. Broadcom follows the chip tape lower.
ORCL down 2.63% to 142.79. Cloud names are not immune today.
NVDA down 2.34% to 219.74. Nvidia off over two percent — the bellwether is bleeding with the rest of the sector.
Now the other side.
LLY up 3.60% to 1,225.73. Eli Lilly is a freight train. GLP-1 demand narrative stays intact.
CRM up 2.71% to 196.14. Salesforce bucking the tech selloff entirely — enterprise software holding where semis are not.
XOM up 2.54% to 165.56. Oil names catching a bid while tech bleeds. Money is rotating, not running.
NFLX up 2.30% to 77.77. Netflix green in a red tape — streaming is not the same trade as semis and the market is drawing that line today.
AAPL up 1.45% to 310.03. Apple holding positive while the rest of big tech gets hit. Relative strength worth watching.
Earnings this morning. BABA reports before the open — estimate is 10.62 EPS. Alibaba always carries geopolitical noise alongside the numbers, so watch the reaction more than the beat. AAP also before the bell, estimate 0.80. ATAT and ATHM reporting too. None of these move the broader market, but BABA can move sentiment on China-exposed names.
Sector read: semis are the wound today, healthcare and energy are the tourniquet. Consumer staples quietly green — COST and WMT both holding. Defensive rotation is real.
Numbers don't lie. People do. Trade accordingly.