Broad strength across equities overnight, with QQQ (+0.61%) and SPY (+0.50%) gaining as semiconductor and storage plays dominate gainers. INTC surged 7.0% on BofA's double upgrade citing CPU growth, while WDC (+6.9%) and SNDK (+5.2%) capitalized on AI-driven storage demand—WDC also announced a $4B buyback. COHR (+7.1%) caught a JPMorgan Overweight reiteration on Nvidia-backed optical momentum. Beyond tech, ALB (+8.0%) and MOS (+7.0%) rallied as investors rotated into commodities amid rising yields and strong fertilizer sector tailwinds. The lone notable casualty was ADBE (-6.4%), where CFO departure to Marvell overshadowed solid earnings, and TKO (-6.1%) stumbled on shareholder distribution concerns.
Buy the AI infrastructure narrative: INTC, WDC, and COHR remain well-positioned on near-term upgrades and secular demand. Consider rotating into ALB for lithium exposure if commodity momentum sustains. Avoid ADBE near-term until leadership transitions clarify strategy, and stay cautious on TKO given capital allocation headwinds. Monitor sector breadth—strength in both semiconductors and hard assets suggests rotational rather than panic buying; lock in gains on extended movers if momentum cools.