Macro Overview
U.S. equities faced minor selling pressure on Friday as the S&P 500 (IVV) slipped 0.09%, closing a week defined by rising Treasury yields and high-profile earnings from the semiconductor sector. While domestic markets remained stable, Developed Markets ex-U.S. (EFA) managed a 0.27% gain, contrasted by a 0.38% decline in Emerging Markets (EEM), where Chinese volatility weighed on broader sentiment. Commodities (DJP) retreated 0.31% as precious metals like Silver (SLV) suffered a significant 2.76% technical correction. A notable outlier was South Korea (EWY), which surged 1.05% on the day, pushing its RSI to an overbought 77.29 as it maintains its position as the one-year performance leader.
U.S. Size & Style
Growth-oriented segments showed the most resilience today, with Large Growth (IVW) eking out a 0.09% gain despite the broader market’s slight decline. Conversely, Small Value (IJS) was the primary laggard, falling 0.53% as investors moved away from smaller-cap value plays amid rising rates. Technically, Mid Cap Blend (IJH) and Small Cap Blend (IJR) are both maintaining elevated RSIs above 70, signaling potentially overextended conditions even as 74.9% and 75.8% of their respective constituents trade above their 50-day moving averages.
| Name (Ticker) | 1-Day % Change | 1 Month | 3 Month | YTD | 1 Year |
|---|---|---|---|---|---|
| Large Growth (IVW) | 0.09% | 1.53% | 3.59% | 0.54% | 21.45% |
| Large Cap (IVV) | -0.09% | 2.18% | 4.99% | 1.42% | 18.33% |
| Small Growth (IJT) | -0.15% | 4.72% | 7.69% | 6.79% | 9.66% |
| Mid Growth (IJK) | -0.17% | 6.52% | 9.60% | 6.76% | 10.41% |
| Large Value (IVE) | -0.23% | 2.95% | 6.69% | 2.45% | 14.62% |
| Mid Cap (IJH) | -0.26% | 5.70% | 9.43% | 6.15% | 10.32% |
| Small Cap (IJR) | -0.34% | 5.22% | 9.70% | 7.02% | 11.25% |
| Mid Value (IJJ) | -0.35% | 4.78% | 9.18% | 5.48% | 9.88% |
| Small Value (IJS) | -0.53% | 5.75% | 11.68% | 7.20% | 12.80% |
U.S. Sectors & Industries
Real Estate (XLRE) led the sector board with a 1.22% advance, as Mortgage REITs and Residential segments found favor. Industrials (XLI) also performed strongly, rising 0.68% to hit a new 52-week high, supported by an 88.75% breadth reading. In contrast, Communication Services (XLC) was the day’s primary laggard, falling 0.89% and seeing its RSI dip toward the oversold threshold at 37.69. Health Care (XLV) also struggled, declining 0.78% on broad weakness in providers and services.
| Name (Ticker) | 1-Day % Change | 1 Month | 3 Month | YTD | 1 Year |
|---|---|---|---|---|---|
| Real Estate (XLRE) | 1.22% | 5.22% | 2.15% | 4.61% | 6.23% |
| Industrials (XLI) | 0.68% | 7.31% | 10.47% | 7.59% | 23.54% |
| Energy (XLE) | 0.17% | 9.77% | 12.79% | 6.67% | 5.72% |
| Financials (XLF) | 0.13% | -0.02% | 5.54% | -0.60% | 10.80% |
| Technology (XLK) | 0.11% | 2.30% | 2.52% | 1.15% | 27.13% |
| Consumer Staples (XLP) | -0.32% | 4.40% | 5.20% | 5.70% | 9.83% |
| Consumer Discretionary (XLY) | -0.33% | 0.50% | 5.45% | 2.42% | 9.13% |
| Utilities (XLU) | -0.50% | 1.57% | -4.86% | 1.64% | 13.35% |
| Materials (XLB) | -0.57% | 8.73% | 11.14% | 7.34% | 13.13% |
| Health Care (XLV) | -0.78% | 1.51% | 9.89% | 0.61% | 12.29% |
| Communication Services (XLC) | -0.89% | -0.95% | 1.20% | -2.17% | 20.73% |
Global Thematic
Digital asset themes dominated the thematic leaderboards, with Crypto Miners (WGMI) vaulting 6.42% and Blockchain (BKCH) rising 4.70% as digital assets showed renewed volatility. Uranium (URA) also maintained its momentum with a 3.07% gain. On the downside, Lithium Miners (LITP) collapsed 4.78%, and Sports Betting (BETZ) pulled back over 3%.
| Name (Ticker) | 1-Day % Change |
|---|---|
| Top 5 Leaders | |
| CoinShares Bitcoin Mining ETF (WGMI) | 6.42% |
| VanEck Digital Transformation ETF (DAPP) | 4.78% |
| Global X Blockchain ETF (BKCH) | 4.70% |
| Bitwise Crypto Industry Innovators ETF (BITQ) | 4.12% |
| iShares Blockchain and Tech ETF (IBLC) | 3.93% |
| Bottom 5 Laggards | |
| Sprott Lithium Miners ETF (LITP) | -4.78% |
| Roundhill Sports Betting & iGaming ETF (BETZ) | -3.14% |
| Sprott Nickel Miners ETF (NIKL) | -3.07% |
| Amplify Seymour Cannabis ETF (CNBS) | -2.50% |
| AdvisorShares Pure US Cannabis ETF (MSOS) | -2.45% |
Developed ex-U.S. & Emerging Markets
International markets saw a divergence between North Asia and the rest of the world. South Korea (EWY) continues its exceptional run, adding 1.05% on the day to bring its 1-year return to a staggering 110.44%. Conversely, Hong Kong (EWH) and China (MCHI) were heavy laggards, falling 1.18% and 1.68% respectively, as concerns over regulatory environments and economic growth weighed on sentiment. Mexico (EWW) provided a bright spot in Emerging Markets with a 1.02% daily gain.
| Name (Ticker) | 1-Day % Change | 1 Month | 3 Month | YTD | 1 Year |
|---|---|---|---|---|---|
| Developed ex-U.S. | |||||
| South Korea (EWY) | 1.05% | 25.36% | 30.60% | 15.43% | 110.44% |
| Netherlands (EWN) | 0.50% | 9.75% | 9.90% | 8.56% | 41.98% |
| Australia (EWA) | 0.34% | 3.56% | 0.85% | 2.10% | 13.50% |
| Germany (EWG) | 0.23% | 3.12% | 4.21% | 1.98% | 34.19% |
| United Kingdom (EWU) | 0.20% | 5.73% | 9.68% | 2.73% | 37.10% |
| Japan (EWJ) | 0.07% | 5.73% | 8.79% | 5.87% | 35.81% |
| Switzerland (EWL) | -0.02% | 2.52% | 5.29% | 0.92% | 30.89% |
| Canada (EWC) | -0.16% | 4.06% | 9.89% | 2.23% | 38.57% |
| France (EWQ) | -0.24% | 0.78% | 0.82% | 0.67% | 25.57% |
| Hong Kong (EWH) | -1.18% | 6.62% | 10.87% | 6.07% | 47.44% |
| Emerging Markets | |||||
| Mexico (EWW) | 1.02% | 8.38% | 12.51% | 6.74% | 62.03% |
| Thailand (THD) | 0.80% | 1.74% | 3.12% | 1.88% | 8.51% |
| Taiwan (EWT) | 0.07% | 10.18% | 8.09% | 6.00% | 35.52% |
| Malaysia (EWM) | -0.39% | 5.15% | 11.87% | 2.96% | 25.86% |
| Indonesia (EIDO) | -0.42% | 2.62% | 11.32% | 2.35% | 8.09% |
| Brazil (EWZ) | -0.57% | 5.32% | 17.52% | 4.41% | 49.71% |
| India (INDA) | -0.70% | -0.19% | -2.25% | -2.22% | 3.53% |
| South Africa (EZA) | -1.30% | 10.78% | 14.04% | 5.78% | 84.84% |
| China (MCHI) | -1.68% | 4.72% | -0.17% | 4.08% | 41.13% |
Fixed Income
Fixed income markets were pressured as Treasury yields climbed to four-month highs, with the 10-year yield settling near 4.24%. Long-duration assets bore the brunt of the move, as Government Long (SPTL) fell 0.64% and Long-Term Corporate Bond (BLV) dropped 0.44%. Shorter-duration and credit-sensitive areas showed more resilience; Bank Loans (BKLN) rose 0.10% and High Yield (HYG) edged up 0.06%, while Convertibles (CWB) gained 0.29% as they tracked equity momentum.
| Name (Ticker) | 1-Day % Change | 1 Month | 3 Month | YTD | 1 Year |
|---|---|---|---|---|---|
| Multisector | |||||
| Core Enhanced (IUSB) | -0.15% | 0.31% | 0.19% | 0.19% | 7.61% |
| Core (AGG) | -0.17% | 0.28% | -0.06% | 0.17% | 7.35% |
| Long-Term (BLV) | -0.44% | 0.57% | -1.78% | 0.63% | 7.47% |
| Short-Term (BSV) | -0.06% | 0.08% | 0.42% | -0.09% | 5.79% |
| Government | |||||
| Ultrashort (BIL) | 0.04% | 0.32% | 0.98% | 0.18% | 4.16% |
| Short-Term (SPTS) | 0.03% | 0.15% | 0.60% | -0.03% | 4.97% |
| Inflation Protected (TIP) | -0.19% | 0.17% | -0.76% | 0.10% | 6.29% |
| Intermediate (SPTI) | -0.24% | -0.20% | -0.30% | -0.24% | 7.04% |
| Long-Term (SPTL) | -0.64% | 0.31% | -2.21% | 0.49% | 6.33% |
| Specialty | |||||
| Convertible (CWB) | 0.29% | 5.63% | 2.05% | 5.26% | 20.60% |
| Bank Loans (BKLN) | 0.10% | 0.68% | 2.82% | 0.29% | 6.88% |
| High Yield (HYG) | 0.06% | 1.01% | 2.19% | 0.57% | 8.20% |
| Corporate (SPIB) | -0.06% | 0.31% | 0.54% | 0.06% | 7.91% |
| Mortgage Backed (MBS) | -0.09% | 0.66% | 0.74% | 0.37% | 8.80% |
| Preferred Stock (PFF) | -0.13% | 2.49% | 2.80% | 2.65% | 6.83% |
| International & EM | |||||
| International (IGOV) | -0.02% | -0.43% | -1.61% | -0.36% | 10.87% |
| International USD (BNDX) | -0.10% | 0.43% | -0.31% | 0.46% | 3.88% |
| Emerging USD (EMB) | -0.20% | -0.06% | 1.75% | -0.07% | 12.96% |
| Emerging Local (EMLC) | -0.23% | 1.24% | 3.23% | 0.43% | 19.36% |
| Municipals | |||||
| Short-Term (SUB) | -0.06% | 0.64% | 0.96% | 0.42% | 4.26% |
| Intermediate (MUB) | -0.11% | 0.85% | 0.97% | 0.47% | 4.81% |
| Long-Term (MLN) | -0.14% | 0.76% | 0.10% | 0.08% | 3.23% |
| High Yield (HYD) | -0.16% | 0.98% | 1.90% | 0.53% | 3.95% |
Commodities
Commodity markets broadly retreated today, with the Broad Composite (DJP) falling 0.31%. Precious metals experienced a notable sell-off as safe-haven demand cooled, led by Platinum (PPLT) at -4.30% and Silver (SLV) at -2.76%. In contrast, Energy was a source of strength as Brent Oil (BNO) rose 0.90% and WTI Crude (USO) added 0.73%. Agriculture remained flat, though Sugar (CANE) and Wheat (WEAT) both posted gains of over 1.4%.
| Name (Ticker) | 1-Day % Change | 1 Month | 3 Month | YTD | 1 Year |
|---|---|---|---|---|---|
| Broad Composite (DJP) | -0.31% | 6.41% | 8.68% | 4.15% | 14.53% |
| Agriculture | |||||
| Sugar (CANE) | 2.11% | 0.26% | -3.68% | -0.77% | -12.71% |
| Wheat (WEAT) | 1.44% | 2.16% | 0.54% | 1.95% | -14.27% |
| Corn (CORN) | 0.73% | -2.36% | -1.91% | -3.13% | -10.92% |
| Soybeans (SOYB) | 0.41% | -1.39% | 1.52% | 0.55% | 1.85% |
| Broad-based (DBA) | 0.04% | 1.02% | -0.79% | 0.31% | 0.68% |
| Energy | |||||
| Broad-based (DBE) | 1.24% | 5.57% | 4.50% | 2.89% | -7.48% |
| Brent Crude Oil (BNO) | 0.90% | 9.71% | 7.42% | 5.37% | -9.27% |
| WTI Crude Oil (USO) | 0.73% | 8.28% | 5.66% | 3.60% | -13.61% |
| Natural Gas (UNG) | 0.29% | -14.63% | -10.79% | -15.74% | -48.19% |
| Gasoline (UGA) | 0.16% | 6.12% | 5.65% | 4.20% | -3.33% |
| Industrial Metals | |||||
| Broad-based (DBB) | -2.18% | 10.28% | 15.77% | 3.57% | 27.24% |
| Copper (CPER) | -2.26% | 9.27% | 16.54% | 2.80% | 29.51% |
| Precious Metals | |||||
| Gold (GLD) | -0.48% | 6.42% | 6.27% | 6.30% | 68.11% |
| Broad-based (DBP) | -1.26% | 12.81% | 16.62% | 10.28% | 83.06% |
| Palladium (PALL) | -1.46% | 11.63% | 10.49% | 12.19% | 89.30% |
| Silver (SLV) | -2.76% | 40.34% | 64.78% | 25.77% | 188.94% |
| Platinum (PPLT) | -4.30% | 24.74% | 34.46% | 12.25% | 144.65% |
Cryptocurrency
Digital assets showed technical resilience on Friday, with Solana (SOLZ) leading the major coins with a 2.70% advance. Bitcoin (IBIT) and Ethereum (ETHA) both posted modest gains of 0.44% and 0.20% respectively. The space remains highly volatile but continues to attract interest as an alternative asset class, with Bitcoin maintaining a year-to-date gain of over 9% despite recent price swings.
| Name (Ticker) | 1-Day % Change | 1 Month | 3 Month | YTD | 1 Year |
|---|---|---|---|---|---|
| XRP (XRPZ) | -0.31% | 7.96% | — | 13.65% | — |
| Multi-Coin (NCIQ) | 0.14% | 9.27% | -13.08% | 9.91% | — |
| Ethereum (ETHA) | 0.20% | 11.67% | -14.91% | 10.92% | -1.62% |
| Bitcoin (IBIT) | 0.44% | 9.11% | -11.70% | 9.24% | -4.99% |
| Solana (SOLZ) | 2.70% | 12.66% | -22.97% | 16.64% | — |
What to Watch Today
As domestic markets close for the Martin Luther King Jr. Day holiday on Monday, investors are preparing for the return to trade on Tuesday, January 20th. The primary focus shifts to the housing sector with the release of Housing Starts and Building Permits data, which will provide a critical look at interest-rate sensitivity within the real estate market following recent yield spikes. Additionally, market participants will be monitoring any spillover from international markets during the long U.S. weekend, particularly regarding continued volatility in Chinese equities. This influx of data, combined with the ongoing quarterly earnings cycle, is expected to define the trajectory for broad indices as they test key technical support levels heading into the month’s final stretch.
