Major Movers
Published
SPY is down 0.8% pre-market. Technology leads sector losses as XLK falls 1.5%, with semiconductor names broadly weak: KLAC -3.1%, Intel -3.7%, AMD -2.6%, Nvidia -1.4%. XLY is off 0.6%, dragged lower by MGM Resorts, down 8.3% and the clear standout within the sector. XLE is the only sector higher, up 1.0%, as Brent crude futures climb 2.2% to a session high of $105.38 a barrel. XLF and XLV are little changed, down 0.1% and 0.2%.
Growth and momentum factors lead losses: SPHB -1.3%, SPMO -1.2%, SPYG and MTUM both -1.0%, while SCHD is the only factor higher, up 0.1%.
Within mega-cap growth, chip and hardware names lead declines: KLA Corp -3.1%, Lam Research and Applied Materials both -2.9%, Meta Platforms -2.7%, AMD -2.6%, Oracle -1.9%. Energy majors ExxonMobil +1.2% and Chevron +1.1% top the cohort.
Elsewhere, SOXX -2.6% and SMH -2.3% underline the semiconductor weakness, while XOP +1.3% tracks the move in crude.
Several semiconductor and hardware suppliers are among the sharpest individual decliners.
- V2X +1.4%
- Labcorp +0.9%
- Copart +0.8%
- Coca-Cola Europacific Partners +0.8%
- Texas Pacific Land +0.7%
- Credo Technology Group -4.5%
- Astera Labs -4.4%
- Arm Holdings -4.4%
- Iridium Communications -3.9%
- Marvell Technology -3.6%
iShares MSCI Japan ETF is down 2.0%, as Japan's 10-year bond yield rises to its highest level since 1996.