META is up 6.55% pre-market and it is carrying this entire session on its back.

META is up 6.55% pre-market and it is carrying this entire session on its back.

Futures are soft. SPY off 0.46, QQQ off 0.29, IWM getting hit hardest at down 1.37. VIX sitting at 16.62 — not alarming, but not calm either. Gold up a quarter point. Asian markets unavailable this morning. No economic calendar events today, so the tape trades on itself.

META up 6.55%, sitting at 653.69. One name doing the heavy lifting today.

AMD up 3.04% at 521.09. Chips getting selective love.

Intel up 1.69% at 106.24. Two chip names green while the broader market fades — that divergence is worth watching.

Exxon up 2.22% at 164.23. Energy quietly outperforming.

Now the red side, and there is more of it. Google down 2.28% at 330.65. Salesforce down 1.99% at 244.16. UnitedHealth down 1.94% at 393.06. Amazon down 1.78% at 252.40. Broadcom down 1.13%, Netflix down 0.96%, Nvidia down 0.91%, Costco down 0.83%. The red cluster is broad and it is hitting mega-cap tech hard. META is the exception, not the rule this morning.

On earnings today — nothing that moves the broader tape. After the close, ANAB reports against a negative EPS estimate. Before the open, HOFT, MNY, RENT, and CRMT all reporting, all with negative consensus. RENT is the standout with an estimate of negative 4.42 per share. BUKS also on the board with no estimate attached. None of these are market movers, but know what is coming.

Bottom line — one stock is green and loud, most of the market is red and quiet. Futures confirm the lean. Watch whether META's strength bleeds into the rest of tech or sits alone all session.

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