Premarket: chip stocks that ripped 7–12% yesterday are giving it back before the open.
→ Micron +11.9% yesterday, now −4.5%; Oracle +8.8% → −3.8%; Intel +7.5% → −3.4%
→ Nasdaq futures −1.34%, VIX 19 (+8.6%), Nvidia −8.8%
→ Jobless claims 200K vs. 195K est.; 30-year bond auction at 1:00 PM ET
I think yesterday's jump was priced in before the Nvidia news hit.
Worst case: if Micron drops below $725, yesterday's entire rally gets wiped out and the selling spreads across all chips; I'll be watching the first half hour.
#Stocks #Semiconductors #Economy
Watching: $MU $NVDA $QQQ
→ Micron +11.9% yesterday, now −4.5%; Oracle +8.8% → −3.8%; Intel +7.5% → −3.4%
→ Nasdaq futures −1.34%, VIX 19 (+8.6%), Nvidia −8.8%
→ Jobless claims 200K vs. 195K est.; 30-year bond auction at 1:00 PM ET
I think yesterday's jump was priced in before the Nvidia news hit.
Worst case: if Micron drops below $725, yesterday's entire rally gets wiped out and the selling spreads across all chips; I'll be watching the first half hour.
#Stocks #Semiconductors #Economy
Watching: $MU $NVDA $QQQ
