Welcome to closing bell overtime. We're live from studio be at the NASDAQ market site. I'm Melissa Lee,

along with Mike Santoli. Sox sliding across the board today. The Dow losing about 300 points. The S&P 500 down a third of a percent. The NASAC near the flat line. Russell 2000, the biggest loser. More in the market straight ahead. But it's going to be another big hour of earnings. Among the names we are watching Expedia, Corweave, Airbnb, Lyft, and Coinbase.

We'll also hear from D Lyft, and Coinbase.

We'll also hear from Draft Kings, and we'll talk to the company's CEO once those results come out.

Breather Day. Yes. Some interesting currents underneath, though. Exactly. We went into this with

everybody pointing to semiconductors being being mega overbought,

NASDAQ 102, a little bit of extremes and short-term sentiment. Normally on a day like that,

when the leading edge of tech is having a pullback, the Dow would be the outperformer.

We can't do that now because Caterpillar was down three and a half percent. It's an AI stock,

and therefore the Dow was the underperformer. So a lot of that happening, I think also the outer edge of the AI trade, like the AI power ETF was down 4%. Bloom Energy down 10%. So it shows you that, you know, we're turning the dial down just a little bit. I don't think it changes the trend. Two weeks ago, we had a two-day 7% shakeout in semis, and they went right back up.

Within this, though, within this sort of rotation away from the hot pockets, we did see a

little bit of the catch-up trade showing some signs of life. We had the media continuing its

run. We also had Microsoft catching a bit. I mean, the broader software sector was strong,

but Microsoft in particular was strong. And Apple hitting a new eye today,

even though it backed off. It qualifies somewhat as relative defense. And in fact, without the moves

in Nvidia and Microsoft, the S&P is probably down twice as much as it was. So, you know,

the heavyweights did their job on a day when the vast majority of stocks were lower.

Yep. The split between chips and software stocks continuing, but today it is software taking the lead,

as we mentioned.

Seema Modi's got all the details, Seema.

Yeah, it's been some time, Melissa, software staging a comeback fueled by shares of Datadog,

which just witnessed its biggest one-day pop since going public back in 2023,

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