Afternoon Note
Industrial production was cooler-than-expected at -0.1%m/m; consensus 0.0%m/m. The soft number combined with the weak retail sales this morning is possibly a relief for bonds and stocks, which have been worried about a no landing scenario.
Homebuilder Sentiment Float
The National Association of Homebuilders (NAHB) Sentiment came in at 48 from 44 in the prior month against Wall Street’s consensus of 46. Prospective buyer traffic expected sales, and current sales increased.
Energy and Real Estate sit at the top of the leaderboard as yields slip, while weak leadership from mega-cap names are dragging down Technology this afternoon.
Breadth is decidedly bullish.
Market Breadth |
NYSE |
NASDAQ |
Advancers |
2,254 |
2,855 |
Decliners |
545 |
1,295 |
New Highs |
182 |
191 |
New Lows |
14 |
58 |
Up Volume |
1.73 billion |
2.78 billion |
Down Volume |
397.4 million |
1.08 billion |
Tweet |
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 |
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 |
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