Afternoon Note
Technology is trying to recover some ground after following yesterday’s sharp selloff. Several tech stocks continue their slide with Tesla (TSLA) and Netflix (NFLX) down about 2% each; however, other mega-cap tech stocks are rising with Meta Platforms (FB) and Google (GOOGL) up 3.3% and 1%, respectively.
Rates continue to rise, with the 10-year yield hitting 1.74% during early afternoon. The 10-year real yield (adjusted for inflation) sits at -0.77%, having moved quickly from below -1%.
Energy holds the lead again in the S&P 500, extending this week’s gains to 8.5%. Crude oil is up 1.8% at $79.30 driven by protests in OPEC member Kazakhstan, and supply outages in Libya.
S&P 500 Index |
+0.20% |
|
Communication Services XLC |
+1.16% |
|
Consumer Discretionary XLY |
-0.02% |
|
Consumer Staples XLP |
+0.04% |
|
Energy XLE |
+1.74% |
|
Financials XLF |
+1.22% |
|
Health Care XLV |
-0.33% |
|
Industrials XLI |
+0.51% |
|
Materials XLB |
-0.89% |
|
Real Estate XLRE |
+0.18% |
|
Technology XLK |
-0.21% |
|
Utilities XLU |
-0.30% |
ISM Services weakens
The December ISM Services index dropped to 62 from 69.1 last month. Business activity, new orders, backlogs, and supplier deliveries all fell but are still expanding. Respondents continue to struggle with inflation, supply chain issues, logistics, and labor and material shortage.
-Business Activity 67.6 vs. 74.6 prior
-New Orders 61.5 vs 69.7 prior
-Employment 54.9 vs 56.5 prior
-Suppliers Deliveries 63.9 vs 75.7 prior
All eyes on the jobs report tomorrow, which is expected to have added 422,000 jobs in December.
Tweet |
7/14/2025 1:32 PM | Decisive Week |
7/14/2025 9:32 AM | GET READY! |
7/11/2025 1:45 PM | Facing Pressure |
7/11/2025 9:48 AM | CLEAR FOR TAKEOFF |
7/10/2025 1:53 PM | Small Caps Rally |
7/10/2025 9:56 AM | ENOUGH ZEN TO SHARE |
7/9/2025 1:32 PM | NVDA New Milestone |
7/9/2025 9:46 AM | PASSING THE BATON |
7/8/2025 1:33 PM | Seesaw Session |
7/8/2025 9:55 AM | MORE SUMMER BLAHS THAN FEAR OF MYANMAR'S TARIFF |
7/7/2025 1:27 PM | Trade Talks and Profit Taking |
7/7/2025 9:51 AM | LOVING MOOD |
7/3/2025 9:45 AM | NICE & STEADY AS SEMIS CONTINUE TO CHIP IN |
7/2/2025 1:44 PM | Materials' Strength Continues |
7/2/2025 9:38 AM | BARNBURNER |
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 |
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