The MarketReader Minute
The Financial Select Sector SPDR Fund (XLF) has seen a price increase of 1.9% since Thursday. A recent macro strategy update from Citi suggests expectations for long positions on the dollar and U.S. banks, which may positively influence financial sector sentiment.
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Some of the largest macro moves in the market today include: A50 Index (China) -2.2%. Some of the largest moves among US mega-cap stocks include: Tesla Inc (TSLA) -6.5%. JPMorgan Chase & Co (JPM) +1.7%.
The MarketReader Minute
VGT has declined by 0.2%, coinciding with a broader market trend as the S&P 500 Index has dropped by 0.15%. The recent U.S. Consumer Price Index (CPI) data revealed a 0.2% increase from August, slightly above expectations, while core CPI rose by 0.3%, exceeding forecasts.
The MarketReader Minute
The Consumer Discretionary Select Sector SPDR Fund (XLY) has decreased by 0.4% today, coinciding with a broader decline in the S&P 500 Index, which fell by 0.19%. Recent economic data revealed an annual inflation rate of 2.4% for September, exceeding forecasts, while core inflation rose to 3.3%.
The MarketReader Minute
Some of the largest macro moves in the market today include: Oil (WTI) +1.4%. Gold +0.6%. Some of the largest moves among US mega-cap stocks include: Amazon.com Inc (AMZN) +1.4%.
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Among the ETF's holdings, notable contributors to performance include BNTX, SRPT, HALO, MDGL, and MRNA, all of which experienced declines. Additionally, the iShares iBoxx $ High Yield Corporate Bond ETF (HYG) has decreased, reflecting broader market sentiment that may also influence the IBB.
The MarketReader Minute
The Energy Select Sector SPDR Fund (XLE) has seen a daily return decrease amid a backdrop of fluctuating oil prices. Brent and WTI crude futures have rebounded slightly today after a significant drop yesterday, rising by approximately 0.8%.
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Key contributors to this performance include Goldman Sachs (GS), which rose significantly, supported by JMP Securities raising its price target from 525 to 550 while maintaining a Market Outperform rating ahead of its earnings report on October 15.
The MarketReader Minute
Some of the largest macro moves in the market today include: Copper -1.5%. Some of the largest moves among US mega-cap stocks include: Exxon Mobil Corp (XOM) -0.7%.
The MarketReader Minute
XLE has experienced a decline of 3.0% during Tuesday's market hours, primarily due to profit-taking as oil prices fell sharply. WTI crude dropped significantly, reflecting broader market concerns, particularly related to Hurricane Milton and disappointing economic stimulus measures from China.
The MarketReader Minute
Some of the largest macro moves in the market today include: Oil (WTI) -2.1%. Copper -1.9%. A50 Index (China) +1.6%. Some of the largest moves among US mega-cap stocks include: Mastercard Inc (MA) +1.2%. Exxon Mobil Corp (XOM) -1.1%.
The MarketReader Minute
XLE has recorded a notable increase for the week, marking its largest weekly gain since October 2022. This surge coincides with rising tensions in the Middle East, particularly following Iran's missile strikes on Israel, which have raised concerns about potential supply disruptions.
