Afternoon Note
It has been quiet for most of the market but explosive for hot sectors.
S&P 500 Index |
|
-0.23% |
Communication Services (XLC) |
+0.30% |
|
Consumer Discretionary (XLY) |
|
-0.45% |
Consumer Staples (XLP) |
|
-0.62% |
Energy (XLE) |
|
1.25% |
Financials (XLF) |
-0.59% |
|
Health Care (XLV) |
|
-0.16% |
Industrials (XLI) |
|
0.33% |
Materials (XLB) |
+0.31% |
|
Real Estate (XLRE) |
-0.38% |
|
Technology (XLK) |
+0.37% |
|
Utilities (XLU) |
|
-0.23% |
Like yesterday, Communications Services are leading the pack, led by Twitter (TWTR,) which laid an egg in its last earnings release and has seen a strong list of Wall Street downgrades over the past two months. Facebook (FB) and Alphabet (GOOG) are also doing some heavy lifting.
Meanwhile, chip names continue to rocket higher getting the latest boost this morning from an upgrade on Micron (MU) from Cowen, which now sees the stock rallying to $70.00 a share instead of $50.00.Like yesterday, Communications Services are leading the pack, led by Twitter (TWTR,) which laid an egg in its last earnings release and has seen a strong list of Wall Street downgrades over the past two months. Facebook (FB) and Alphabet (GOOG) are also doing some heavy lifting.
Semiconductors are on fire, but volume is declining (see chart). Still, we are going to ride this for all its worth.
Unlike yesterday, an early reversal has lost steam. There isn’t a great sense of fear, just general anxiety associated with every week that finishes with the jobs report. The market is looking for a spark beyond momentum names, and it’s not getting it right now.
I don’t think the situation in Iran impacting the market at all at this point.
Tweet |
7/1/2025 1:29 PM | Rotation |
7/1/2025 9:45 AM | FEAR OF MISSING OUT IS CREEPING IN |
6/30/2025 1:24 PM | Steady As She Goes |
6/30/2025 9:54 AM | SUMMER RALLY STARTS |
6/27/2025 1:35 PM | Reaching New Heights |
6/27/2025 9:39 AM | THERE'S MORE! |
6/26/2025 1:10 PM | S&P Approaches Record |
6/26/2025 9:51 AM | CHIPS MOMENTUM CONTINUES |
6/25/2025 1:42 PM | Tech Stocks Power Nasdaq 100 |
6/25/2025 9:47 AM | CLIMBING MOUNTAINS OF WORRY |
6/24/2025 1:47 PM | Peace Rally |
6/24/2025 9:48 AM | PEACE THROUGH STRENGTH: THE MARKET LOVES IT |
6/23/2025 1:47 PM | Getting Some Resolve |
6/23/2025 9:51 AM | BRACING |
6/20/2025 1:29 PM | Second Triple Witching |
6/20/2025 9:38 AM | POWELL BLEW IT |
6/18/2025 12:41 PM | FED Day |
6/18/2025 9:45 AM | ROOM WITH A VIEW |
6/17/2025 1:26 PM | Tension Continues |
6/17/2025 9:50 AM | THE BIG TECH TEN & CO |
6/16/2025 1:34 PM | Fears Subside |
6/16/2025 9:44 AM | DRUMBEATS OF PEACE |
6/13/2025 1:30 PM | Showing Resilience |
6/13/2025 9:37 AM | THE NEW NUCLEAR AGE |
6/12/2025 1:27 PM | Interest Rates in Focus |
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