I'm Dear Joe Boza and you're listening to CNBC's Tech Check. Our show is live weekdays at 11 a.m. Eastern. Listen in.

Good Monday morning. Welcome to Tech Check. I'm Carl Cantania with John Fort and Julia Borsden. Dear Debosa has the morning off today.

Markets are rallying a bit, although we're off session highs, the Nasdaq's trying to make it three up days in a row.

Stocks have not hit new lows in about a month have we found a bottom. We'll talk about that. Plus, could another poor earnings report make Netflix a target for M&A? We'll break down the streaming landscape. And then with a vote on the $52 billion chips act possibly coming this week, we'll talk with the CEO of Global Foundries on US semi-production and the CEO of Lockheed Martin, what that bill could mean for your chip stocks

in your portfolio, John. Yeah, Carl Stocks rallying to start the week, as you mentioned, does the

banks give the entire market a boost? Despite some economic headwinds and investor caution,

it's been a slow grind higher for weeks.

Mike Santoli tracking this bear market from the NYSC. Mike, is this bear going into early

hibernation? You know, or maybe it's just resting up, John. That's pretty much looks the same

either way. But it is notable that we have not necessarily plumb new

lows for about a month. And since the start of the third quarter, the market has acted as if

people came in somewhat underinvested. And here's the breakdown of some of the bigger kind of

growth in tech bellwethers since that point one month ago. You see Apple. I mean, a 15% move in Apple

is obviously going to do a whole lot of

work in terms of supporting the overall indexes. It's been having its defensive and quality

characteristics of the stock shine through. It seems to be the lesson here. Nasdaq 100 up about half

as much. So the NDX outside of Apple, as you can imagine, has been that much

less impressive. This is the equal-weighted tech sector. So again, somewhat more muted gains

there. It's been a little lumpy in terms of where the gains have been coming from. The

semiconductor index also up 6%. But you see here, that made kind of an early July low, so it's not

been on the same cadence.

So I think you'd have to say, look, you keep these rallies on a relatively short lease.

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