Afternoon Note
After a massive selloff yesterday, the markets have fluctuated between gains and losses in today’s session. The first rally attempt failed, which was expected. We are impressed there has been a second try, but still, nobody is taking the bait.
Treasuries are pulling back, but the 10-year note neared 1.9% earlier today. Commodities are also higher with Aluminum reaching a record high and above $3,000/tonne and Copper heading again towards $10,000/tonne.
A big move in the WTI market today with the soon to expire February contract (Friday) rallying quite a lot above the March contract.
Consumer Staples is leading in today’s session driven by Procter & Gamble’s (PG) earnings results this morning, which beat consensus and raised its full-year guidance.
S&P 500 Index |
+0.39% |
|
Communication Services XLC |
+1.29% |
|
Consumer Discretionary XLY |
-0.19% |
|
Consumer Staples XLP |
+1.15% |
|
Energy XLE |
-0.29% |
|
Financials XLF |
-0.81% |
|
Health Care XLV |
+0.54% |
|
Industrials XLI |
-0.07% |
|
Materials XLB |
+0.60% |
|
Real Estate XLRE |
+0.08% |
|
Technology XLK |
+0.53% |
|
Utilities XLU |
+0.93% |
It’s going to be interesting to see if this bounce settles into the close. Most indices are still under their 50-day moving average with Nasdaq within striking distance of a correction.
Tweet |
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 |
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 |
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