U.S. stocks fell sharply pre-market (SPX -1.0%, NDX -2.2%) after weak $Intel(INTC.US) and $Amazon(AMZN.US) results and g…
U.S. stocks fell sharply pre-market (SPX -1.0%, NDX -2.2%) after weak $Intel(INTC.US) and $Amazon(AMZN.US) results and guidance accelerated a rotation out of tech amid slowing growth. INTC plunged 25% on a soft PC demand outlook projected to persist through mid-2027; AMZN missed overall revenue estimates even as AWS beat and CapEx was higher than expected. Tech peers fell sharply with $NVIDIA(NVDA.US) -2.9%, $Broadcom(AVGO.US) -4.0%, $Micron Tech(MU.US) -5.2%, and $Dell Tech(DELL.US) -10%. Brent crude rose 1.6% to $117/bbl. 10-year yield fell to 4.93% as investors sought safety. #goon BTC dropped 1.5% to $75.6K post Binance’s $6.3B North Korea-linked hack. Gold and silver declined. S&P 2026 EPS estimates remain robust at $369 (+33% YoY) despite the weakness in tech. We remain cautious on $Tesla(TSLA.US).
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