SPY closed at $745.40, and is testing its recent highs, while gold sits at $376.32 – a move from last week’s lows suggests some rotation out of risk assets. The 10-year yield holds steady at 4.57%, giving growth stocks breathing room as earnings season begins in earnest.
Industrials (XLI +1.2% 5d) are leading the charge, boosted by a strong backlog and positive sentiment surrounding infrastructure spending. Health Care (XLV) is also showing strength, outperforming with consistent buying pressure over the past week. Energy (XLE), however, continues to lag — crude prices haven’t kept pace with the broader market rally.
We're watching HWM (earnings tonight – semi read-through), CASY (broke $840 resistance – momentum play), and UAL (sector laggard – potential bounce). Also, ANET is making new highs, confirming the AI spend thesis.
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