It's the last day of the month, and the market is exploding higher, in a strong risk-onmove driven by a series of stellar earnings in the Tech sector. The day is dominated by impressive rallies, although key divergences remain.

🇺🇸 US Equities (Pre-market/Open)

$SPX500 — Futures are moving decidedly higher, driven by the Mega-Cap rally.

$DJ30 — Up, as positive sentiment spreads.

$NSDQ100 — In a strong rally, the index is being pulled higher by $AMZN$ and $GOOGL$.

💻 Tech & Growth Snapshot

$NVDA (+1,62%) — In a solid rise, the stock is outperforming and leading the AI sector.

$GOOGL (-0,02%) — Rallying strongly, the market reacts with euphoria to its earnings, pushing the stock higher.

$AVGO (+0,31%) — Slightly down, counter-trending the sector, showing weakness.

$META (-1,6%) — Up, the stock is recovering lost ground and joining the positive sentiment.

$MSFT (-0,26%) — Slightly up, attempting a modest recovery along with the Nasdaq rally.

$TSM (+0,28%) — Slightly up, showing resilience in the chip sector.

$RR. (-0,22%) — Slightly down, the industrial/aerospace sector is weak.

$RKLB (-1,86%) — Slightly up, showing cautious optimism in the new techspace.

$RGTI (+0,25%) — Up, the quantum sector follows the speculative sentiment.

🛍️ Retail & Commerce

$AMZN (-2,52%) — Exploding higher, the stock is dominating the market with an impressive rally, clearly following earnings that beat all expectations.

$BABA (-1,98%) — Falling sharply, continuing its negative performance, crashing against the US tech trend.

$CVNA (-1,53%) — Up, the stock is participating in the risk-onmove and recovering ground.

$SHOP (+2,01%) — Stable, failing to benefit from the $AMZN rally.

⚕️ Health & Pharmaceutical

$LLY (-0,12%) — Slightly down, the defensive Pharma sector is being sold as capital rotates into Tech.

$HIMS (+3,23%) — Stable, awaiting catalysts.

$INSM (+0,3%) — Stable, the biotech sector is flat.

🇪🇺 Europe & Industrials

STOXX 600 — Mixed, Europe is not fully participating in the US rally.

GER40 — Mixed/Slightly down, reflecting uncertainty.

$LDO (+2,15%) — Slightly up, the defense sector shows some strength.

$IBE (+0%) — Slightly up, utilities are stable/positive.

$OKLO — Stable, the nuclear stock is flat.

$CS (-4,62%) — Down, the European financial sector is weak.

🏦 Banking & Finance

$UCG (+0,84%) — Slightly up, the Italian banking sector is mixed.

$ISP (-1,91%) — Slightly up, showing modest strength.

$BPE (+1,29%) — Solidly up, continuing its outperformance and positive trend.

$CE (+0%) Up, another strong performer in Italian banking.

$BBVA (+0,34%) — Up, the Spanish bank is recovering ground.

$AXP (+0,39%) — Slightly down, the payments sector is weak.

$V (-0,18%) — Down, following the weakness in $AXP$.

🌏 Asia

$JPN225 / $KOSPI / $HK50 / $CHINA50 — Closed mixed/negative, weighed down by weakness in Chinese stocks ($BABA$).

💱 Forex

$DXY — The Dollar Index is stable/slightly down, reflecting the conflicting sentiment.

$EURUSD — Stable/Slightly upagainst a weaker Dollar.

$USDJPY — Stable.

💎 Commodities & Precious Metals

$GLD (+0,09%) — Stable, gold is flat, not benefiting from the defensive sell-off or the tech risk-on.

$CDE (-1,76%) — Stable, following gold.

$BRENT / $WTI — Down, oil is dropping due to demand fears (e.g., $BABA data).

💰 Crypto

$BTC (+1,59%) / $ETH (+1,82%) — Up, crypto is following the risk-onrally led by $AMZN and $GOOGL.

$TRX (+1,49%) — Up, the altcoin sector is participating in the positive sentiment.

$CRO (+2,44%) — Up, in line with the sector.

📈 Benchmark ETFs

$VOO (+0,23%) / $VGT (+0,24%) / $CNDX — The real sentiment is being pulled higher by their main components.

$BND (+0,24%) — Stable, investors are also looking for safety in bonds.

🔎 Deep Dive: The Great Earnings Divergence

Today is the definition of a "stock market," not a "market of stocks." There is no single sentiment. Quarterly results are creating massive divergences:

1. The Winners: $AMZN (-2,52%) and $GOOGL (-0,02%) are on fire, saving the $NSDQ100 single-handedly.

2. The Losers: $BABA (-1,98%) is collapsing, signaling weakness in Chinese and speculative retail.

3. The Isolated Strong:Italian banks ($BPE (+1,29%) , $CE (+0%) ) and $BBVA (+0,34%) continue to outperform.

4. The Defensives:Gold ($GLD (+0,09%) ) is flat, while Pharma ($LLY (-0,12%) ) and European financials ($CS (-4,62%)

) are weak.

Follow the Analysis:

For daily real-time market insights, deep dives, and trading discussions, follow me on X: https://x.com/ThomasVioli

To copy my portfolio, strategies, and complete trade insights, you can follow me on eToro: https://www.eToro.com/people/farlys

⚠️ Disclaimer:Past performance is not indicative of future results. Investing involves risks, including the loss of capital.

🇺🇸 US Equities (Pre-market/Early Trading)

$SPX500 — Indicating a sharp decline, as the collapse in major tech components weighs heavily on the index.

$DJ30 — Trading significantly lower, pulled down by the broad *risk-offsentiment.

$NSDQ100 — Falling sharply, dragged down by heavy losses in major tech names.

💻 Tech & Growth Snapshot

$NVDA (+1,62%) — Down slightly, showing significant resilience and holding up well compared to the broader tech wreck.

$GOOGL (-0,02%) — Surging dramatically higher, completely defying the market sell-off, likely on a stellar earnings report.

$AVGO (+0,31%) — Up moderately, showing strong relative strength in the semiconductor sector.$META (-1,6%) — Collapsing, in a sharp sell-off likely due to a major earnings miss.

$MSFT (-0,26%) — Falling sharply, a massive drop indicating a very negative reaction to its earnings, pulling the $SPX500$ down.

$QBTS (-1,64%) Not shown, but likely down significantly*in this *risk-offenvironment for speculative tech.

$RGTI (+0,25%) — Down moderately, following the negative sentiment in speculative tech.

$TSM (+0,28%) — Down slightly, giving back some recent gains.

$RR. (-0,22%) — Down moderately, the industrial/aerospace sector is weak.

$RKLB (-1,86%) — Up slightly, showing some resilience in the space sector.

🛍️ Retail & Commerce

$AMZN (-2,52%) — Down moderately, reflecting weakness in consumer-focused tech.

$BABA (-1,98%) — Down moderately, under pressure alongside other Chinese and e-commerce stocks.

$CVNA (-1,53%) — Falling sharply, continuing its pattern of high volatility and weakness.

$SHOP (+2,01%) — Down moderately, indicating pressure on e-commerce platforms.

⚕️ Health & Pharmaceutical

$LLY (-0,12%) — Likely flat or slightly down, as investors rotate out of defensive names or brace for the downturn.

$HIMS (+3,23%) — Holding steady, showing no significant price change.

$INSM (+0,3%) — Flat, the biotech sector remains cautious.

🇪🇺 Europe & Industrials

STOXX 600 — Trading lower, struggling as the US tech crash impacts global sentiment.

GER40 — Trading cautiously lower, reflecting the uncertain global sentiment.

$LDO (+2,15%) — Down moderately, suggesting pressure on the defense sector.

$IBE (+0%) — Down slightly, utilities are also facing some selling pressure.

$OKLO Down moderately, indicating profit-taking in the nuclear technology space.

$CS (-4,62%) — Down moderately, reflecting broader caution across parts of the European financial sector.

🏦 Banking & Finance

$UCG (+0,84%) — Down moderately, following the negative trend in European financials.

$ISP (-1,91%) — Down slightly, showing some weakness.

$BPE (+1,29%) — Making moderate gains, continuing its strong counter-trend rally.

$CE (+0%) — Up slightly, joining the isolated strength in Italian mid-cap banks.

$BBVA (+0,34%) — Falling sharply, showing significant weakness and vulnerability.

$AXP (+0,39%) — Down moderately, reflecting caution in the payments sector.

$V (-0,18%) — Down slightly, mirroring the hesitation seen in other payment stocks.

🌏 Asia

$JPN225 / $KOSPI / $HK50 / $CHINA50 — Likely closed mixed to negative*as the US tech crash sentiment spread.

💱 Forex

$DXY — The Dollar Index is likely trading higher*as investors flee to safety (cash).

$EURUSD — Likely edging lower*against a stronger Dollar.

$USDJPY — Likely trading higher*reflecting the strong Dollar.

💎 Commodities & Precious Metals

$GLD (+0,09%) — Holding steady, pausing as investors prefer the $DXY$ as the primary safe haven over gold.

$CDE (-1,76%) — Flat, mirroring gold's lack of direction.

$BRENT / $WTI (W&T Offshore Inc) — Likely trading down*as growth concerns spike, tempering demand outlook.

💰 Crypto

$BTC (+1,59%) / $ETH (+1,82%) — Likely experiencing significant downward pressure, following the Nasdaq crash.

$TRX (+1,49%) — Holding steady, though the broader crypto market is likely weak.

$CRO (+2,44%) — Likely tracking the negative trend in crypto.

📈 Benchmark ETFs

$VOO (+0,23%)
$VGT (+0,24%)
$CNDX — Holding steady (0.00%) in the image, likely reflecting a pre-market halt or lag, but they are clearly heading for a sharp drop*based on their components.

$BND (+0,24%) — Flat, as bond yields likely fall (prices rise) during the flight to safety.

🔎 Deep Dive: The Great Tech Divergence

Today's story is a brutal earnings-driven divergence. The market is split in two: $MSFT (-0,26%) and $META (-1,6%) are collapsing, pulling the entire $SPX500 and risk-onsentiment down with them. Retail stocks like $BABA and $AMZN are falling in sympathy.

However, $GOOGL (-0,02%) is surging dramatically, completely disconnecting from the sector on what must be a stellar earnings report. This divergence shows the market is differentiating between AI narratives: $NVDA (+1,62%) is also holding up remarkably well (down only slightly), while other tech ($TSM (+0,28%) , $AVGO (+0,31%) ) is mixed.

Away from tech, Italian banks ($BPE (+1,29%)) continue their isolated rally, but the overall mood is clearly *risk-off*.

Follow the Analysis:

For daily real-time market insights, *deep dives*, and trading discussions, follow me on X: https://x.com/ThomasVioli

To copy my portfolio, strategies, and complete trade insights, you can follow me on eToro: https://www.eToro.com/people/farlys

⚠️ Disclaimer:*Past performance is not indicative of future results. Investing involves risks, including the loss of capital.