It was a tough session, and fresh tariff warnings were hanging overhead last week, so investors retreated to traditional safe havens, led by Utilities (XLU) and Artificial Intelligence (AI)/Data Centers proxies—mid-cap momentum is the best factor.

Buying the Dip

The great news that continues into today's session is the 2025 bounceback, which is becoming the stuff of legends. It gets an assist today after President Trump pushed potential 50% European Union (EU) tariffs to July 9^th.

Magnanimous

There are intriguing earnings, but the real action begins tomorrow.

Today’s Session

Durable goods came in better than expected on headline and ex-defense.

Now, we await the latest on consumer confidence.