π Midday check: S&P 500 +0.35% at 7,606, Nasdaq +0.30%, Dow leading the pack at +0.96% (+499).
β οΈ The story is the fade. The S&P ripped to 7,662 by 10:25 and has bled out ever since. It's now sitting right on the day's lows, basically back where it opened. Green on the screen, but the tape says buyers lost interest fast.
π Part of that is Apple. Down 2.3% into tonight's earnings, and when the biggest name in the index gets sold ahead of a print, the index feels it. Amazon is doing the opposite, up 4% as the street warms back up to the AWS story after last week's capex sell-off. Marvell is the ugly one in chips, down 9% after agreeing to combine with Lumentum. Big AI optics ambitions, but the market isn't paying up for the deal today.
π Afternoon look-ahead: Apple reports after the bell and midterms are tomorrow. That's two catalysts stacked back to back, so don't expect anyone to get aggressive here. Watch 7,600 on the S&P. Hold it and this is just a cooling-off from a hot open. Lose it and the green day could turn red by the close. Dow strength is carrying the headlines, but the S&P chart is the one telling the truth today.
π See you all on the trading floor
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