Afternoon Note
Yields are breaking out with the 10-year note rising above 4%, which is weighing down Technology. Hawkish comments from Federal Reserve speakers and stronger-than-expected economic data have increased expectations for higher rates. According to the CME FedWatch Tool, the probability of a 50-basis-point hike is now 33.6%, up 27% from a week ago.
Weak leadership from mega-cap Amazon (AMZN) and Tesla (TSLA) are adding pressure to Consumer Discretionary, making it the worst performer this afternoon.
Very intriguing breadth this afternoon, Up/Down volume on Nasdaq is positive by quite a bit.
Market Breadth |
NYSE |
NASDAQ |
Advancers |
1,191 |
1,708 |
Decliners |
1,828 |
2,631 |
New Highs |
56 |
72 |
New Lows |
46 |
146 |
Up Volume |
957.32 million |
1.76 billion |
Down Volume |
1.23 billion |
1.51 billion |
More earnings after the bell, with Costco (COST) reporting. Investors will be eyeing near-term guidance, especially after cautious guidance from Walmart (WMT) last week.
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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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