Broadly speaking, the market is processing yesterday’s strong performance.
Broadly speaking, the market is processing yesterday’s strong performance. Chips and AI infrastructure are pulling back very modestly in the premarket, which shouldn’t surprise anyone. Larger moves are stock-specific and earnings driven. SPCX is down on news of its first earnings release and possible anxiety about upcoming IPO lockup expirations. ECHO is moving down in sympathy. TDC is down sharply on a guidance miss.
Until proven otherwise, sentiment is risk-on. The recovery to market highs went perhaps faster than most were expecting, but it’s still a target-rich environment for latecomers. Experienced hands will expect dips to be absorbed fairly quickly. Watch the Kapnotes board for updates throughout the day.
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