Broad indices opened flat to slightly positive (SPY +0.16%, QQQ -0.03%), but semiconductor weakness dominated overnight action. ARM Holdings plummeted 8.0% on profit-taking after its explosive 109% one-year run, dragging the chip complex lower and weighing on SOXL (-4.71%). Meanwhile, SNDK gained 7.4% on Jim Cramer's bullish call, while ALB rose 6.3% on recovering EV demand. Consumer discretionary stumbled with DPZ down 9.8% following disappointing same-store sales and a lowered earnings outlook.
Avoid ARM and the broader semiconductor space until the geopolitical headwinds clarify and momentum reverses. DPZ deserves to stay on the sidelines given deteriorating fundamentals. Consider selective exposure to ALB if lithium/battery demand signals strengthen further, but wait for confirmation before deploying capital into beaten-down chip names—the sector's near-term bias remains downward.