Major indices are under pressure today driven by profit-taking action from mega-caps and AI plays. Semiconductors are among today’s laggards as the Technology Sector (XLK) is the worst performing sector (more below).

The Magnificent Seven names are mostly moving lower, except for Apple (AAPL). However, there are still many green patches in the broader market.

Four sectors are moving higher, with the defensive sectors holding in the green. Financials (XLF) is the best performing sector, getting a boost from several favorable earnings reactions, including Apollo Global management (APO) and Global Payments (GPN).

Meanwhile, Technology (XLK) is the laggard driven by profit-taking action and some poor earnings reactions, including Palantir (PLTR), Gartner (IT), and CDW (CDW).

The Fear and Greed gauge made an anxiety driven move to the “extreme fear” zone.

The Supreme Court is set to hear oral arguments tomorrow on the legality of President Trump's proposed tariffs on imports. The end decision is expected in early 2026, but the Trump administration is already looking at other options if the court rules against some of the tariffs.

Housing update

The median price of luxury homes hit a record of $1.26M in September, up 4.8% YoY and doubling the pace of regular homes. As a result, inventories have climbed 7.7% YoY while non-luxury inventories are also rising, up 11.4% YoY, as home prices become more unaffordable across the board.

The age of first-time homebuyers continues to surge, reaching 40 for the first time. Additionally, first time buyers only make up 21% of home purchases, the lowest since 1981.

Tweet

 

Home | Products & Services | Education | In The Media | Help | About Us | Disclaimer | Privacy Policy | Terms of Use | All Rights Reserved.