The MarketReader Minute
US Retail Sales for July exceeded expectations, surging 1.0%, while Initial Jobless Claims fell to 227,000, both of which have historically influenced XLY's performance. Additionally, the S&P 500 Index has increased by 1.01%, reflecting broader market sentiment.
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Cisco (CSCO) benefited from favorable analyst actions following better-than-expected Q4 earnings, while Broadcom (AVGO) posted a solid return. Additionally, the S&P 500 Index's rise of 0.89% reflects broader market movements that may be influencing VGT's performance.
The MarketReader Minute
Key contributors to this performance include CVX, which saw a return of 0.72%, contributing 0.12% to the ETF's overall performance. VLO reported a return of 1.39%, contributing 0.05%
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Some of the largest macro moves in the market today include: US 2Y Treasury Bond -0.3%. USD/CNH +0.6%. US 10Y Treasury Bond -0.7%. Some of the largest moves among US mega-cap stocks include: Walmart Inc (WMT) +8.6%. Amazon.com Inc (AMZN) +2.9%. Broadcom Inc (AVGO) +1.9%.
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Moderna Inc (MRNA) also contributed positively after announcing a partnership with Coursera to launch a free online course on mRNA technology, aimed at enhancing education in STEM fields.
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The Consumer Discretionary Select Sector SPDR Fund (XLY) experienced a slight decrease. Among its holdings, Amazon led with a notable return, followed by Chipotle Mexican Grill, General Motors, Airbnb, and eBay.
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BAC and MMC each contributed minimally to the overall performance with small declines. Additionally, the AUD/USD currency pair has dropped by 0.29%, reflecting broader market sentiment that may correlate with the recent movement in XLF.
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Microsoft has announced a partnership with Ituran Location and Control and Porsche to improve real-time data telemetry for racing teams in Brazil, Argentina, and Portugal for the upcoming season.
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The U.S. core consumer price index (CPI) rose by 0.2% in July, aligning with market expectations and slightly up from June's increase of 0.1%. On an annual basis, the core CPI increased by 3.2%, marking its lowest level since April 2021.
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NVIDIA returned significantly, contributing the most to the ETF's performance. Apple maintained its $3 trillion market cap and is set to launch the Apple Intelligence and iPhone 16 series with AI capabilities.
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Significant contributors to the ETF's performance included ExxonMobil, ConocoPhillips, Occidental Petroleum, Schlumberger, and Marathon Petroleum, all of which posted negative returns.
The MarketReader Minute
Significant contributors to this performance included Starbucks, which saw a notable return following the appointment of Brian Niccol as its new Chairman and CEO, alongside Amazon, Tesla, Booking Holdings, and TJX, all of which posted positive returns.
