SPY closed at $741.75, holding near its 90-day high, while gold surged to $398.14 – a three-month high – reflecting continued demand for safe haven assets. The 10-year Treasury yield is steady at 4.49%, suggesting a pause in the recent upward pressure on rates. This dynamic is supporting risk-on sentiment heading into a busy earnings week.
Health Care (XLV) is leading the charge, up 1.8% over the last 5 days, driven by strong relative strength and defensive positioning. Utilities (XLU) are also showing resilience, benefiting from the bond market’s stability. Industrials (XLI) are lagging, down 1.2% over the same period, as cyclical exposure weighs on performance.
We’re watching LLY (earnings season bellwether), FTNT (broke $150 last week – breakout confirmation), STX (making new highs – momentum play), and INCY (sector laggard – potential bounce).
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