After hitting their 2026 lows in late March, U.S. equity indexes have staged a remarkable recovery, with the Nasdaq leading the charge. Initially, higher oil prices and geopolitical tensions raised fears of renewed inflation, threatening the Federal Reserve's anticipated rate cuts. However, the market has rapidly shifted its perspective, particularly regarding the technology sector. In this market update, we explore why large-cap tech is suddenly trading more like a safe haven than a speculative risk asset. We also examine the semiconductor sector's continued market leadership and look ahead to a critical two-week stretch where nearly half of the Nasdaq's market cap will report earnings. For retail traders watching Micro E-mini Nasdaq-100 and S&P 500 futures, this heavy concentration of tech earnings presents potential volatility and key price levels to monitor in the days ahead.