[UPDATE] Memory names lead while the broad tape falls on 08-17; Dow and S&P lower into retail earnings
The Dow and S&P 500 fell on Monday as crude rose and the 30-year Treasury yield tested multi-decade highs, with most sectors lower apart from energy and selected semiconductors. Western Digital gained 6.5% and Marvell 5.8% ahead of its 08-27 print, alongside Micron's 4.13%. The distinction matters to the desk's memory thesis: the complex outperformed on a down tape, which reads as idiosyncratic strength rather than beta — though the attribution circulating for WDC still points back to SanDisk's 08-13 investor day rather than a Monday-dated event.