SPY is up 0.4% pre-market, with growth and semis leading.

Technology (XLK) leads sectors at +1.0%, led by chip names including SK hynix (+4.8%), Seagate (+2.9%) and Micron Technology (+2.8%), while Accenture lags the group at -1.3%. Financials (XLF) is up 0.3%. Health Care (XLV) is down 0.4%, with IDEXX Labs the weakest member at -1.5%. Energy (XLE) is the weakest sector at -0.6%, consistent with Brent crude dropping 4% on hopes for a US-Iran resolution.

Among factors, High Beta (+1.1%) and Momentum (+0.9%) outperform, while the Equal Weight S&P 500 is up just 0.1%, pointing to narrow breadth.

In mega-cap growth, AMD leads at +2.2% while Accenture and Vertex Pharmaceuticals (-0.9%) lag.

Elsewhere, semiconductor ETFs are broadly strong, with iShares Semiconductor ETF up 1.9% and VanEck Semiconductor ETF up 1.5%, while Oil & Gas E&P ETF is down 1.4% and Defense ETF (SHLD) is down 1.2%.

Chip-adjacent names dominate the top gainers, while Rollins is the standout loser, dropping sharply pre-market.

• Fabrinet +3.3%
• Space Exploration Technologies Corp +3.1%
• Marvell Technology +3.1%
• Invitation Homes +3.0%
• Lumentum Holdings +3.0%
• CoStar Group -1.0%
• Revvity -1.2%
• Deckers Brands -1.3%
• Automatic Data Processing -1.4%
• Rollins -6.8%

Among thematic and regional names, the WisdomTree Quantum Computing Fund is up 2.4% and the iShares MSCI South Korea ETF is up 3.6%. In commodities, the Crude Oil ETF is down 3.2% on the Iran de-escalation hopes, while the Rare Earth and Strategic Metals ETF is up 2.3%.

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