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Next Day Prep #130: Trade War Fallout Tech Turmoil & Semis Crushed – Friday 10/10/2025

By WaveRider AI1 min read

Key takeaways

  • Stay nimble amidst geopolitical uncertainties. Monitor critical support levels like SPY 648 and QQQ 584. Focus on stock-specific catalysts such as earnings surprises and technical setups to navigate the volatile market environment.

Next Day Prep: Trade War Fallout Tech Turmoil & Semis Crushed

A quick analysis of today’s market outlook and key trading opportunities to start your day.

Intro & Market Mood

The market experienced a significant pullback driven by renewed trade war tensions between the U.S. and China. The sharp decline across major indices reflected broad-based selling and a flight to safety assets like U.S. Treasuries.

Overnight Headlines

  • President Trump’s trade war remarks on Truth Social triggered the market selloff.
  • The S&P 500 and Nasdaq plunged, with technology and semiconductor sectors hit hardest.
  • Defensive sectors like Consumer Staples saw minimal gains, while rare earth materials producers rallied.
  • Applied Digital (APLD) stood out with strong earnings performance, defying the market downtrend.

Economic Announcements

No major economic announcements noted in the transcript.

Earnings Highlights

  • APLD (Applied Digital): Reported exceptional revenue growth of 84% year-over-year, highlighting its strong position in the AI data center market.
  • PepsiCo: Showed resilience in the Consumer Staples sector with positive performance post-earnings.

Top Movers

  • MP Materials: Surged over 8% due to Beijing’s rare earth materials control.
  • NVIDIA and AMD: Semiconductor stocks plummeted amid tariff fears and export restrictions.

Quick Trade Ideas

Traders can consider monitoring T-B-H and M-L-T-X for potential continuation trades based on late-day accumulation patterns. Stocks like Bloom Energy and C-M-E may signal caution due to distribution patterns.