Coming off yesterday’s broad market gains – the QQQ leading with a +0.78% move – we’re heading into today with cautiously optimistic sentiment. Gold is slightly lower, and treasury yields remain relatively stable, suggesting a continued appetite for risk assets. The VIX is also edging lower, indicating reduced fear in the near term.
Technology continues to demonstrate momentum, leading gains yesterday and showing no signs of slowing. Energy also performed well, benefiting from sustained commodity prices. We're watching to see if this rotation into cyclical sectors continues, while Materials, Industrials, and Real Estate are lagging and may face headwinds.
We’re watching AVGO, GLW, GOOGL, LRCX, and MU today as key bellwethers in the tech space, anticipating continued focus on AI-related developments and earnings reports.
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