Ahead of Big Tech earnings, AI gets sold and staples get bought

Wall Street closed a touch softer, the S&P 500 off 0.47% and the Nasdaq down 0.28%. With Big Tech earnings coming up, worry about how much they're all pouring into AI spooked semiconductor and AI names, and the money seemed to drift toward cloud and staples instead. Exports and jobs still look solid and the currency/commodity backdrop stays friendly, so it's not panic-worthy — but I'm just watching today, nothing in the book.