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.
The MarketReader Minute
The SPDR S&P Regional Banking ETF (KRE) has seen a daily return drop of approximately 0.14%. This decline follows the unexpected strength in the U.S. labor market, with 254,000 jobs added in September and unemployment decreasing to 4.1%.
The MarketReader Minute
The iShares Biotechnology ETF (IBB) has experienced a price decline since Friday. Recent conversations on social media indicate that long buys outpaced short sales, with a ratio of 2.3 to 1, as reported by Goldman.
The MarketReader Minute
Some of the largest macro moves in the market today include: USD/CNH -0.4%. US 2Y Treasury Bond -0.1%. US 10Y Treasury Bond -0.4%. Some of the largest moves among US mega-cap stocks include: Amazon.com Inc (AMZN) -1.4%. Exxon Mobil Corp (XOM) +0.8%.
The MarketReader Minute
The U.S. economy added 254,000 jobs in September, surpassing expectations and lowering the unemployment rate to 4.1%. This robust labor market performance has prompted adjustments in outlook regarding Federal Reserve interest rate
The MarketReader Minute
XLF has seen a price increase as the U.S. economy demonstrates resilience, highlighted by the September jobs report, which showed the addition of 254,000 nonfarm payrolls and a decrease in the unemployment rate to 4.1%. This labor market may influence Federal Reserve policy.
The MarketReader Minute
Some of the largest macro moves in the market today include: US 2Y Treasury Bond -0.3%. USD/CNH +0.5%. US 10Y Treasury Bond -0.6%. Some of the largest moves among US mega-cap stocks include: Amazon.com Inc (AMZN) +2.0%. JPMorgan Chase & Co (JPM) +0.7%.
The MarketReader Minute
Significant movements among VGT's holdings included declines from major contributors such as Apple, Intuit, Texas Instruments, Qualcomm, and Oracle. Apple CEO Tim Cook sold over $50 million in stock amid company transitions, while Qualcomm's CTO sold shares, raising concerns about insider sentiment.
The MarketReader Minute
XLE has experienced a price increase, attributed to recent comments from President Biden regarding oil market stabilization measures. The Biden administration has purchased an additional 6 million barrels of crude oil for the Strategic Petroleum Reserve at an average price of $68.56 per barrel.
The MarketReader Minute
Among the ETF's holdings, notable declines were observed in Amazon, Tesla, TJX, Home Depot, and Chipotle Mexican Grill, with Amazon planning to hire seasonal workers amid profit concerns.
The MarketReader Minute
Some of the largest macro moves in the market today include: Copper -2.6%. US Dollar Index +0.3%. GBP/USD -1.1%.
The MarketReader Minute
Significant contributors to this performance include Illumina (ILMN), which increased notably, alongside Gilead Sciences (GILD) and Mettler-Toledo (MTD), both of which also posted gains.
