Afternoon Note
All major indices are moving higher today and remain on course to finish the day higher to end a volatile week.
Notably, the Magnificent 7 (MAGS) is making a recovery as well, with Nvidia (NVDA) leading the pack.
Every sector is in the green, with Technology (XLK) and Energy (XLE) as the best performers. Consumer Staples (XLP) is the laggard, but still marginally in the green.
The heatmap is broadly positive, with only small pockets of red in communications, health technology, and Consumer Staples.
Market breadth is also broadly positive, with advancers outpacing decliners and more up volume versus down volume. The number of stocks making new lows is also declining.
Economic Data
More weak “soft” economic data today with the Michigan Consumer Sentiment at 57.9 in March, down from 64.7 last month and below estimates of 63.1. Current Conditions fell marginally to 63.5 from 65.7, missing expectations of 65. The main factor contributing to the lower reading was expectations for the future which fell to 54.2 from 64 and below forecasts of 64.3. The results possess a stagflation vibe, which could be a challenge for the Fed.
Notably, 1 year inflation expectations rose to 4.9% from 4.3% and 5 year inflation expectations rose to 3.9% from 3.5%.
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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 |
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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 |
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