The market had a solid session. Nine sectors were higher, led by Financials (XLF) and Consumer Staples (XLP). Usually, when staples are in the led, the broad market is under pressure and down on the session.

Financials were sparked by Trump's move to allow 401(k)'s to invest in private equity as well as a mix of regional and money-center banks that reported earnings this week (the earnings season is separating the wheat from the chaff). And crypto continues to be felt in the markets, as Coinbase (COIN) keeps marching higher.

Remember, new highs beget new highs.

Heat Map

Health Care (XLV) is still the sick sector in the market – not sure how that changes.

There were substantial gains across various factors.

American Exceptionalism

We see American exceptionalism in companies like Nvidia (NVDA), as well as in companies like Johnson & Johnson (JNJ).

As for the narrative about the fall of the U.S. Dollar (DXY), it was also overhyped. Moreover, it's staging a strong rebound.

They're Coming to America Today

Check out the inflow into the U.S. to own our assets.  I haven’t heard it as much lately, but anyone still talking smack about the end of American Exceptionalism isn’t paying attention.

Today’s Session

Major indices are all in the green in the premarket, as investors weigh economic and earnings data, as well as awaiting the signing of the Genius Act.

Crypto Week may be back on, as Trump is expected to sign the Genius Act into law today at 2:30 P.M. EST and will be covered live on Making Money.

Housing Starts and Building Permits for June both grew and came in above forecasts. Notably permits were driven by buildings with 5 or more units, which rose by 8.1%, whereas single family permits fell 3.7%.

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