SPY closed at $754.83, clinging to its 90-day high, while QQQ mirrored the move with a +0.80% gain. Gold is up 0.46% today, continuing its 90-day climb, and 10-year Treasury yields are steady at 4.49% — this combination suggests risk appetite remains elevated heading into a busy earnings week and Wednesday’s FOMC decision.
Consumer Staples (XLP) are leading today, +1.2% in the first hour, defying the broader risk-on tone. This divergence, combined with bullish signals in Health Care (XLV) and Utilities (XLU), points to defensive positioning ahead of potential volatility from the Fed. Industrials (XLI) are lagging, down nearly 1%, suggesting investors are rotating out of cyclical names.
We're watching LLY (earnings tonight — healthcare bellwether), FTNT (broke $149 last week — momentum play), and ROKU (making new highs — growth outlier). Also monitoring STX and SNDK as they continue to print new highs.
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