Macro Overview
The Large Cap (IVV) receded -0.55% during the session, underperforming Developed ex-U.S. (EFA) which posted a fractional decline of -0.09%. Emerging Markets (EEM) registered the most significant regional pullback, falling -0.95% as broad Asian market weakness weighed heavily on the complex. In contrast to equities, Broad Commodities (DJP) advanced 0.21%. Fixed income segments broadly gained as longer-duration assets captured a bid from compressing yields.
U.S. Size & Style
A distinct rotation toward value and smaller capitalizations defined the session. Mid Value (IJJ) led the matrix with a 0.84% gain, while Large Growth (IVW) lagged significantly at -1.27%. This divergence extends a 1-month trend where Mid Value (IJJ) has advanced 2.85% against a -2.91% contraction in Large Growth (IVW).
| Name (Ticker) | 1-Day | 1 Month | 3 Month | YTD | 1 Year |
|---|---|---|---|---|---|
| Large Value (IVE) | 0.16% | 2.21% | 5.80% | 4.65% | 15.49% |
| Large Cap (IVV) | -0.55% | -0.50% | 1.73% | 1.09% | 17.42% |
| Large Growth (IVW) | -1.27% | -2.91% | -1.85% | -2.09% | 18.84% |
| Mid Value (IJJ) | 0.84% | 2.85% | 8.49% | 7.74% | 15.14% |
| Mid Cap (IJH) | 0.40% | 3.53% | 9.76% | 9.20% | 17.87% |
| Mid Growth (IJK) | 0.09% | 4.35% | 11.03% | 10.66% | 20.46% |
| Small Value (IJS) | 0.61% | 2.53% | 10.47% | 9.44% | 20.45% |
| Small Cap (IJR) | 0.56% | 2.54% | 9.29% | 9.33% | 18.65% |
| Small Growth (IJT) | 0.52% | 2.52% | 8.11% | 9.10% | 16.75% |
U.S. Sectors & Industries
Financial (XLF) advanced 1.21% to lead all domestic sectors, supported by secondary gains in Industrials (XLI) at 0.63%. Technology (XLK) acted as the primary headwind, pulling back -1.40%. Utilities (XLU) registered a -0.38% decline but maintains an overbought technical posture with a 14-day RSI of 72.59, following a 10.05% surge over the prior month.
| Name (Ticker) | 1-Day | 1 Month | 3 Month | YTD | 1 Year |
|---|---|---|---|---|---|
| Financial (XLF) | 1.21% | -1.70% | -0.51% | -4.14% | 4.67% |
| Industrials (XLI) | 0.63% | 7.49% | 16.03% | 13.91% | 32.67% |
| Real Estate (XLRE) | 0.44% | 5.85% | 6.35% | 8.13% | 5.76% |
| Energy (XLE) | 0.33% | 11.84% | 24.36% | 23.13% | 27.66% |
| Communication Services (XLC) | 0.19% | -0.89% | 2.30% | -0.85% | 16.37% |
| Consumer Discretionary (XLY) | -0.03% | -4.31% | -0.19% | -1.98% | 9.53% |
| Materials (XLB) | -0.11% | 5.94% | 19.86% | 16.87% | 21.99% |
| Consumer Staples (XLP) | -0.17% | 7.34% | 13.52% | 14.39% | 11.33% |
| Health Care (XLV) | -0.26% | -0.43% | -0.21% | 1.69% | 8.36% |
| Utilities (XLU) | -0.38% | 10.05% | 5.64% | 10.52% | 21.60% |
| Technology (XLK) | -1.40% | -3.47% | -0.47% | -2.06% | 22.84% |
Global Thematic
Genomics and precious metal miners dominated the thematic landscape. ARK Genomic Revolution ETF (ARKG) gained 4.51%, while junior gold and silver miners also placed in the top decile. Conversely, clean energy themes faced steep headwinds, with State Street SPDR S&P Kensho Clean Power ETF (CNRG) contracting -3.57%.
| Name (Ticker) | 1-Day |
|---|---|
| Leaders | |
| ARK Genomic Revolution ETF (ARKG) | 4.51% |
| WisdomTree Cloud Computing Fund (WCLD) | 3.96% |
| Amplify Junior Silver Miners ETF (SILJ) | 3.79% |
| VanEck Junior Gold Miners ETF (GDXJ) | 3.67% |
| Sprott Silver Miners & Physical Silver ETF (SLVR) | 3.12% |
| Laggards | |
| State Street SPDR S&P Kensho Clean Power ETF (CNRG) | -3.57% |
| Invesco Solar ETF (TAN) | -2.92% |
| ALPS Clean Energy ETF (ACES) | -2.90% |
| First Trust Nasdaq Clean Edge Green Energy Index Fund (QCLN) | -2.53% |
| iShares A.I. Innovation and Tech Active ETF (BAI) | -2.30% |
Developed ex-U.S. & Emerging Markets
South Korea (EWY) added 1.02%, pushing its 1-year performance to 166.10% and driving RSI to an overbought 79.21. In the Developed sleeve, France (EWQ) and Australia (EWA) are similarly stretched from a technical standpoint with RSIs over 70. Broad weakness in the Emerging Markets complex was anchored by China (MCHI), which fell -2.37%.
| Name (Ticker) | 1-Day | 1 Month | 3 Month | YTD | 1 Year |
|---|---|---|---|---|---|
| Developed ex-U.S. | |||||
| South Korea (EWY) | 1.02% | 28.20% | 68.03% | 54.71% | 166.10% |
| Canada (EWC) | 0.97% | 4.42% | 12.29% | 7.82% | 42.56% |
| France (EWQ) | 0.69% | 5.91% | 9.38% | 7.47% | 24.58% |
| Germany (EWG) | 0.47% | 1.64% | 9.75% | 4.85% | 23.39% |
| Hong Kong (EWH) | 0.04% | 4.56% | 11.21% | 12.33% | 42.61% |
| Japan (EWJ) | 0.04% | 9.28% | 15.28% | 14.54% | 39.20% |
| Australia (EWA) | -0.07% | 9.12% | 18.74% | 15.08% | 27.35% |
| Dev ex-U.S. (EFA) | -0.09% | 5.08% | 13.30% | 9.93% | 32.80% |
| U.K. (EWU) | -0.10% | 6.07% | 15.27% | 10.53% | 37.60% |
| Switzerland (EWL) | -0.34% | 5.62% | 12.30% | 7.79% | 26.58% |
| Netherlands (EWN) | -1.13% | 0.38% | 13.28% | 10.56% | 36.89% |
| Emerging Markets | |||||
| South Africa (EZA) | 0.61% | 4.37% | 25.61% | 17.38% | 86.99% |
| Mexico (EWW) | 0.26% | 5.16% | 21.14% | 16.34% | 62.59% |
| Thailand (THD) | 0.25% | 17.76% | 28.89% | 25.37% | 40.78% |
| India (INDA) | -0.30% | 2.22% | -3.82% | -2.72% | 7.26% |
| Emerging (EEM) | -0.95% | 5.98% | 17.28% | 14.62% | 43.74% |
| Taiwan (EWT) | -1.19% | 8.86% | 25.12% | 19.85% | 50.05% |
| Malaysia (EWM) | -1.20% | 0.51% | 13.07% | 8.37% | 27.32% |
| Brazil (EWZ) | -1.24% | 6.80% | 21.02% | 23.07% | 65.76% |
| Indonesia (EIDO) | -1.81% | -6.82% | -4.27% | -4.33% | 9.24% |
| China (MCHI) | -2.37% | -5.47% | -3.15% | -1.40% | 9.28% |
Fixed Income
Longer-duration segments outperformed as yields compressed across the curve, highlighted by Government Long (SPTL) advancing 0.40%. Credit risk appetite was mixed, with Mortgage Backed (MBS) returning 0.24%, while higher beta segments like Convertible (CWB) and Bank Loans (BKLN) experienced pullbacks of -0.58% and -0.39% respectively.
| Name (Ticker) | 1-Day | 1 Month | 3 Month | YTD | 1 Year |
|---|---|---|---|---|---|
| Multisector | |||||
| Taxable Long Term (BLV) | 0.25% | 1.90% | 0.83% | 3.01% | 4.79% |
| Taxable Core (AGG) | 0.16% | 1.27% | 1.23% | 1.65% | 6.34% |
| Taxable Core Enhanced (IUSB) | 0.13% | 1.19% | 1.26% | 1.61% | 6.59% |
| Taxable Short-Term (BSV) | 0.09% | 0.80% | 1.02% | 0.81% | 5.58% |
| Government | |||||
| Government Long (SPTL) | 0.40% | 2.49% | 0.93% | 3.54% | 3.68% |
| Inflation Protected (TIP) | 0.27% | 1.20% | 0.78% | 1.64% | 5.39% |
| Government Intermediate (SPTI) | 0.21% | 1.51% | 0.99% | 1.37% | 6.54% |
| Government Short (SPTS) | 0.07% | 0.59% | 0.96% | 0.59% | 4.79% |
| Taxable Ultrashort (BIL) | 0.01% | 0.31% | 0.91% | 0.54% | 4.04% |
| Specialty | |||||
| Mortgage Backed (MBS) | 0.24% | 1.40% | 1.88% | 1.96% | 7.61% |
| Corporate (SPIB) | 0.06% | 0.98% | 1.24% | 1.19% | 7.20% |
| Taxable High Yield (HYG) | -0.09% | 0.09% | 1.31% | 0.77% | 7.02% |
| Preferred Stock (PFF) | -0.25% | -0.23% | 3.68% | 2.74% | 5.83% |
| Bank Loans (BKLN) | -0.39% | -1.92% | -1.17% | -2.16% | 4.04% |
| Convertible (CWB) | -0.58% | 1.56% | 6.21% | 6.68% | 22.22% |
| International & EM | |||||
| International USD (BNDX) | 0.16% | 1.43% | 1.30% | 1.87% | 3.87% |
| International (IGOV) | 0.12% | 1.06% | 3.18% | 2.88% | 10.49% |
| Emerging (EMLC) | -0.04% | 1.34% | 4.98% | 3.42% | 18.20% |
| Emerging USD (EMB) | -0.06% | 1.32% | 2.25% | 1.89% | 12.00% |
| Municipals | |||||
| Municipal High Yield (HYD) | 0.21% | 1.01% | 1.50% | 1.19% | 2.61% |
| Municipal Long (MLN) | 0.17% | 1.76% | 1.94% | 1.70% | 2.83% |
| Municipal Intermediate (MUB) | 0.16% | 1.43% | 2.23% | 1.95% | 4.51% |
| Municipal Short (SUB) | 0.02% | 0.41% | 1.30% | 0.86% | 3.60% |
Commodities
Precious Metals exhibited strength across the board, with Gold (GLD) advancing 0.86% and Silver (SLV) adding 0.51%. Energy commodities painted a mixed picture; Brent Crude Oil (BNO) climbed 0.48% while Natural Gas (UNG) extended its steep downward trajectory with a -1.90% drop, bringing its 1-year loss to -46.19%.
| Name (Ticker) | 1-Day | 1 Month | 3 Month | YTD | 1 Year |
|---|---|---|---|---|---|
| Broad Commodities (DJP) | 0.21% | 0.05% | 13.38% | 11.99% | 22.05% |
| Agriculture | |||||
| Wheat (WEAT) | 0.78% | 6.77% | 4.58% | 9.76% | -12.84% |
| Corn (CORN) | 0.23% | 2.25% | -1.11% | 0.06% | -10.72% |
| Soybeans (SOYB) | 0.00% | 6.99% | 1.15% | 8.60% | 8.35% |
| Sugar (CANE) | -0.11% | -2.20% | -4.26% | -4.46% | -25.68% |
| Agriculture (DBA) | -0.27% | 1.13% | 3.27% | 2.08% | -0.50% |
| Energy | |||||
| Brent Crude Oil (BNO) | 0.48% | 10.60% | 17.31% | 19.39% | 13.49% |
| Gasoline (UGA) | 0.46% | 9.82% | 9.17% | 16.35% | 16.97% |
| Energy (DBE) | 0.15% | 6.54% | 10.65% | 14.69% | 9.70% |
| WTI Crude Oil (USO) | 0.05% | 8.56% | 13.89% | 15.34% | 8.02% |
| Natural Gas (UNG) | -1.90% | -23.26% | -20.14% | -7.18% | -46.19% |
| Industrial Metals | |||||
| Copper (CPER) | -0.14% | 0.52% | 15.36% | 5.06% | 28.43% |
| Industrial Metals (DBB) | -0.66% | -0.45% | 14.24% | 5.41% | 29.55% |
| Precious Metals | |||||
| Gold (GLD) | 0.86% | 2.75% | 24.63% | 20.48% | 77.48% |
| Precious Metals (DBP) | 0.83% | -3.57% | 31.87% | 20.65% | 89.87% |
| Silver (SLV) | 0.51% | -18.19% | 66.22% | 24.88% | 177.99% |
| Palladium (PALL) | -0.04% | -11.61% | 25.38% | 11.73% | 91.32% |
| Platinum (PPLT) | -0.09% | -16.08% | 42.87% | 11.08% | 134.12% |
Cryptocurrency
Digital assets faced uniform selling pressure, compounding deep short-term drawdowns. XRP (XRP) posted the steepest daily decline at -4.99%. Bitcoin (IBIT) and Ethereum (ETHA) each fell approximately -2.50%, both nursing 1-month returns worse than -20%.
| Name (Ticker) | 1-Day | 1 Month | 3 Month | YTD | 1 Year |
|---|---|---|---|---|---|
| XRP (XRP) | -4.99% | -26.29% | -37.47% | -23.88% | |
| Solana (SOLZ) | -3.96% | -30.75% | -40.42% | -31.25% | |
| Multi-Coin (NCIQ) | -2.76% | -24.39% | -27.90% | -24.34% | -21.57% |
| Ethereum (ETHA) | -2.49% | -30.18% | -33.23% | -31.83% | -13.42% |
| Bitcoin (IBIT) | -2.47% | -22.94% | -25.02% | -22.94% | -20.23% |
What to Watch Today
Market participants will look toward incoming macroeconomic releases for directional cues as trading resumes tomorrow. Focus will center on incoming personal consumption and inflation-related data to confirm the trajectory of the broader U.S. consumer base, which may dictate near-term yield curve adjustments and heavily influence interest-rate-sensitive equity and fixed income segments.
