Chip stocks are ripping this morning, and it's pulling futures higher.
Semiconductors got smoked last week, and now they're bouncing hard. Marvell, Micron, Intel, Astera Labs all up 5-6% in pre-market. The SMH ETF is up over 3%.
This is the rotation everyone's been watching. Tech took a beating. Now it's trying to reclaim leadership while the rest of the market digests earnings.
Speaking of earnings, 87% of S&P 500 companies that have reported so far beat expectations. 3M and GM both crushed this morning. Alphabet, IBM, and Tesla report later this week.
Oil's bouncing too, sitting above $84 on ceasefire rumors between the U.S. and Iran.
The market's ignoring geopolitics again and betting on earnings. For now, that's working.
Don goes live at 9:20 am ET to break it all down.
– The TheoTrade Team