SPY closed at $751.28, challenging its 90-day high, while QQQ gained 0.40%. Gold softened to $380.25 – a move off last week’s highs signals reduced safe-haven demand and corroborates risk appetite. The 10-year Treasury yield held steady at 4.49%, providing a stable backdrop for equities heading into a busy earnings week.
Health Care (XLV) is leading the charge – up nearly 2% over the last five days, it’s outperforming SPY by a significant margin. Industrials (XLI), and Utilities (XLU) are also showing strength, suggesting a risk-on but not overly exuberant mood. Communication Services (XLC) continues to lag, weighed down by macro concerns around ad spend.
We’re watching HWM (earnings after close — semi read across), ROK (broke $480 last week – momentum play), UNH (leading the healthcare sector - confirmation bias), and CVS (sympathy play following recent earnings data).
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