Global equity markets rise on Middle East de-escalation hopes, while U.S. retail sales and job growth exceed expectations despite rising mortgage rates impacting housing affordability.
XLE fell over 1% as declines in Chevron, Exxon and EOG weighed on the sector, even as oil prices surged. Rising gasoline prices above $4 and inflation concerns added pressure on energy equities despite higher crude.
XLF rose around 2% as gains in JPM and Citi lifted financials. With strength in mortgage-linked names like Fannie Mae and Freddie Mac supporting sector momentum on expectations of a potential exit from conservatorship.
XLY rose around 3% as strength in Amazon and Tesla lifted the sector, alongside broader market gains. The move comes despite ongoing geopolitical tensions, reflecting resilient consumer-driven sentiment.
VGT rose around 4% as strength in Nvidia, Microsoft, Apple, Broadcom and Oracle lifted the tech sector, supported by improved risk sentiment following geopolitical developments. Gains in the broader market, including the S&P 500, further reinforced momentum across tech stocks.
IBB rose over 4% as biotech rallied on renewed M&A momentum, led by Eli Lilly's agreement to acquire Centessa. Gains across holdings including Apellis, Regeneron, Moderna and Gilead supported the move, reflecting improved sentiment in the sector.
Global equity markets rise as U.S. considers ending military operations in Iran, while mixed economic data from Canada and Eurozone inflation concerns persist.
The Consumer Discretionary ETF (XLY) edged lower, extending a weak monthly trend as rising oil prices and inflation concerns continue to weigh on consumer spending sentiment.
The Financials ETF (XLF) rose nearly 1% as strength across major banks lifted the sector, outperforming others despite ongoing market volatility and inflation concerns.
(XLE) declined despite rising crude prices, as broader market weakness and geopolitical uncertainty weighed on energy equities.
The iShares Biotechnology ETF (IBB) rose nearly 1% as gains in Vertex Pharmaceuticals, United Therapeutics, and Regeneron supported the sector despite broader market pressure.
The Vanguard Information Technology ETF (VGT) moved lower as declines in Apple, Nvidia, and Broadcom pressured the sector. Rising oil prices and inflation concerns weighed on tech, with the Nasdaq 100 also trending lower.
