SPY closed at $773.26, flirting with its 90-day high, while gold edged lower to $397.50 – a three-month low suggests risk appetite is holding steady. The 10-year yield remains anchored around 4.66%, providing continued support for growth stocks as earnings season heats up.
Materials (XLB +1.8% 5d) are leading the charge, outperforming SPY by nearly a full percentage point this week — bullish price action in steel names suggests industrial demand is holding up despite broader economic concerns. Health Care (XLV) continues to show relative strength, benefiting from defensive positioning and steady earnings expectations.
Watching ABNB (new highs – momentum play), XOM (testing $155 resistance — energy outlier), BMY (breaking out of consolidation– bullish setup), and KNSA (bounce or break after recent weakness).
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