Macro Overview
U.S. equities advanced as a cooler-than-expected Consumer Price Index reading and strong bank earnings bolstered investor sentiment. The S&P 500 (IVV) gained 0.34%, while international markets saw even stronger performance, with Developed ex-U.S. (EFA) rising 0.70%. Emerging Markets (EEM) were the standout, surging 1.81% on the day. Meanwhile, fixed income markets rallied on the inflation data, sending the U.S. Aggregate Bond (AGG) up 0.30%, and Broad Commodities (DJP) climbed 1.17% amid rising geopolitical tensions.
U.S. Size & Style
Growth stocks decisively outperformed their value counterparts across the capitalization spectrum, signaling a risk-on mood. Large Growth (IVW) jumped 1.05%, in stark contrast to the 0.41% decline for Large Value (IVE). This trend continued down the cap scale, with Mid Growth (IJK) adding 0.60% and Small Growth (IJT) rising 0.42%. Despite some divergence in daily performance, market breadth remains healthy, with the majority of constituents in every size and style segment trading above their 50-day moving averages.
| Name (Ticker) | 1-Day | 1 Month | 3 Month | YTD | 1 Year |
|---|---|---|---|---|---|
| Large Value (IVE) | -0.41% | 0.92% | 6.11% | 9.25% | 18.21% |
| Large Cap (IVV) | 0.34% | 1.61% | 8.52% | 10.83% | 21.72% |
| Large Growth (IVW) | 1.05% | 2.23% | 10.69% | 12.07% | 24.60% |
| Mid Value (IJJ) | 0.27% | 0.35% | 6.02% | 12.31% | 17.03% |
| Mid Cap (IJH) | 0.44% | -0.37% | 5.85% | 15.05% | 20.30% |
| Mid Growth (IJK) | 0.60% | -1.07% | 5.65% | 17.49% | 23.16% |
| Small Value (IJS) | 0.17% | 0.36% | 9.09% | 19.75% | 32.53% |
| Small Cap (IJR) | 0.27% | 1.50% | 10.11% | 21.52% | 30.20% |
| Small Growth (IJT) | 0.42% | 2.66% | 10.99% | 23.12% | 27.84% |
Explore the U.S. Size & Style Explorer →
U.S. Sectors & Industries
The Technology (XLK) sector led the market higher with a 1.29% gain, fueled by a rebound in semiconductor stocks. The Financials (XLF) sector also advanced 0.20% as the second-quarter earnings season kicked off with record profits from several major banks. In contrast, defensive sectors lagged significantly, with Health Care (XLV) and Consumer Staples (XLP) falling 1.93% and 1.38%, respectively. Elsewhere, Energy (XLE) rose 0.37% as geopolitical tensions pushed crude oil prices higher.
| Name (Ticker) | 1-Day | 1 Month | 3 Month | YTD | 1 Year |
|---|---|---|---|---|---|
| S&P 500 (SPY) | 0.36% | 1.62% | 8.54% | 10.84% | 21.66% |
| Technology (XLK) | 1.29% | -0.52% | 24.27% | 27.85% | 44.40% |
| Energy (XLE) | 0.37% | -0.34% | 2.51% | 29.11% | 33.21% |
| Financials (XLF) | 0.20% | 5.69% | 8.88% | 3.46% | 8.56% |
| Materials (XLB) | 0.12% | -2.59% | -2.27% | 12.57% | 13.30% |
| Industrials (XLI) | 0.04% | 2.67% | 4.35% | 16.94% | 21.02% |
| Utilities (XLU) | -0.07% | 3.26% | -1.05% | 8.45% | 13.45% |
| Consumer Discretionary (XLY) | -0.12% | -0.40% | -0.26% | -2.55% | 5.11% |
| Communication Services (XLC) | -0.13% | 0.09% | -4.13% | -4.77% | 5.42% |
| Real Estate (XLRE) | -0.49% | -1.09% | 3.30% | 11.93% | 9.92% |
| Consumer Staples (XLP) | -1.38% | -2.12% | 3.11% | 8.75% | 6.01% |
| Health Care (XLV) | -1.93% | 3.36% | 6.82% | 3.12% | 19.27% |
Explore the U.S. Sectors & Industries Explorer →
Global Thematic
Technology-centric themes dominated the day’s leaders, reflecting broad strength in the sector. Cybersecurity funds were notable outperformers, with the WisdomTree Cybersecurity Fund (WCBR) and Global X Cybersecurity ETF (BUG) climbing 6.08% and 5.93%, respectively. The Roundhill Memory ETF (DRAM) was the day’s top performer, gaining 6.86%. On the other end of the spectrum, healthcare-focused strategies struggled, as seen with the Tema Heart & Health ETF (HRTS) and Global X Aging Population ETF (AGNG), which declined 1.58% and 1.28%.
| Name (Ticker) | 1-Day |
|---|---|
| Leaders | |
| Roundhill Memory ETF (DRAM) | 6.86% |
| WisdomTree Cybersecurity Fund (WCBR) | 6.08% |
| Global X Cybersecurity ETF (BUG) | 5.93% |
| Global X Copper Miners ETF (COPX) | 5.88% |
| Amplify Cybersecurity ETF (HACK) | 4.58% |
| Laggards | |
| Tema Heart & Health ETF (HRTS) | -1.58% |
| Global X Aging Population ETF (AGNG) | -1.28% |
| Roundhill GLP-1 & Weight Loss ETF (OZEM) | -1.27% |
| Roundhill Sports Betting & iGaming ETF (BETZ) | -1.07% |
| ROBO Global Healthcare Technology and Innovation ETF (HTEC) | -1.03% |
Explore the Thematic Explorer →
Developed ex-U.S. & Emerging Markets
International equity markets posted broad gains, with a remarkable surge in South Korea (EWY) which jumped 5.33%, extending its year-to-date return to over 82%. Other developed markets in the Asia-Pacific region also performed well, as Japan (EWJ) and Australia (EWA) gained 1.26% and 1.27%. Within emerging markets, China (MCHI) rose 1.33% after reporting better-than-expected export and import growth for June. Malaysia (EWM) was another strong performer, advancing 2.15%.
| Name (Ticker) | 1-Day | 1 Month | 3 Month | YTD | 1 Year |
|---|---|---|---|---|---|
| Developed Markets ex-U.S. | |||||
| Developed ex-U.S. (EFA) | 0.70% | 0.55% | 1.89% | 9.96% | 20.87% |
| Australia (EWA) | 1.27% | -0.35% | -3.52% | 11.17% | 12.23% |
| Canada (EWC) | 0.77% | 1.19% | 3.04% | 10.25% | 29.18% |
| France (EWQ) | 0.47% | -1.09% | -0.84% | 2.49% | 7.48% |
| Germany (EWG) | 0.39% | -0.23% | 0.05% | -0.68% | -0.32% |
| Hong Kong (EWH) | 1.74% | 0.08% | -7.76% | 3.61% | 13.03% |
| Japan (EWJ) | 1.26% | 1.81% | 5.57% | 16.91% | 35.29% |
| Netherlands (EWN) | 0.55% | -2.32% | 6.76% | 19.43% | 30.00% |
| South Korea (EWY) | 5.33% | -10.37% | 20.66% | 82.04% | 147.28% |
| Switzerland (EWL) | 0.00% | 1.28% | 2.69% | 5.94% | 16.11% |
| U.K. (EWU) | -0.11% | -0.39% | -2.27% | 6.82% | 19.63% |
| Emerging Markets | |||||
| Emerging Markets (EEM) | 1.81% | -2.77% | 6.04% | 20.64% | 38.53% |
| Brazil (EWZ) | 1.81% | 3.63% | -12.83% | 14.49% | 37.97% |
| China (MCHI) | 1.33% | -2.28% | -7.65% | -10.80% | -2.36% |
| India (INDA) | -0.12% | 0.83% | -1.95% | -9.84% | -11.27% |
| Indonesia (EIDO) | 0.75% | -0.44% | -25.22% | -34.30% | -29.63% |
| Malaysia (EWM) | 2.15% | 1.84% | -0.73% | 4.78% | 20.90% |
| Mexico (EWW) | 1.60% | -2.58% | -2.93% | 10.26% | 30.73% |
| South Africa (EZA) | 1.10% | -3.11% | -12.03% | -5.82% | 29.00% |
| Taiwan (EWT) | 0.00% | -0.72% | 27.02% | 60.37% | 84.35% |
| Thailand (THD) | 0.55% | -0.13% | 1.78% | 24.74% | 42.32% |
Explore the Global (ex-U.S.) Size & Style Explorer →
Fixed Income
Bonds rallied across the board after the June CPI report showed a larger-than-expected decline in headline inflation. The U.S. Aggregate Bond (AGG) benchmark gained 0.30%, with similar moves across the Treasury curve. Mortgage-Backed Securities (MBB) were a particularly strong area, rising 0.44% on the day. Credit-sensitive segments also participated in the rally, with Corporate (SPIB) and High Yield (HYG) bonds posting gains of 0.24% and 0.20%, respectively.
| Name (Ticker) | 1-Day | 1 Month | 3 Month | YTD | 1 Year |
|---|---|---|---|---|---|
| Multisector | |||||
| Core (AGG) | 0.30% | -0.44% | -0.79% | 0.08% | 3.99% |
| Core Enhanced (IUSB) | 0.23% | -0.43% | -0.65% | 0.24% | 4.21% |
| Long-Term (BLV) | 0.19% | -1.69% | -2.06% | -1.01% | 3.86% |
| Short-Term (BSV) | 0.18% | 0.04% | -0.07% | 0.46% | 3.22% |
| Government | |||||
| Intermediate (SPTI) | 0.21% | -0.14% | -0.96% | -0.44% | 2.82% |
| Long-Term (SPTL) | 0.20% | -1.24% | -2.19% | -1.23% | 3.24% |
| Short-Term (SPTS) | 0.14% | 0.13% | 0.19% | 0.68% | 3.17% |
| Inflation Protected (TIP) | 0.09% | -0.50% | -0.57% | 0.89% | 3.12% |
| Ultrashort (BIL) | 0.01% | 0.29% | 0.90% | 1.89% | 3.82% |
| Specialty | |||||
| Preferred Stock (PFF) | 0.53% | -1.35% | -1.04% | 1.02% | 3.46% |
| Mortgage Backed (MBB) | 0.44% | -0.40% | -0.83% | 0.47% | 5.42% |
| Convertible (CWB) | 0.27% | -2.48% | 5.73% | 17.58% | 25.61% |
| Corporate (SPIB) | 0.24% | -0.19% | -0.31% | 0.42% | 4.11% |
| High Yield (HYG) | 0.20% | 0.14% | 0.47% | 1.79% | 5.49% |
| Bank Loans (BKLN) | 0.10% | 0.65% | 1.11% | 0.46% | 3.83% |
| International & EM | |||||
| International Local (IGOV) | 0.53% | -1.69% | -2.82% | -2.08% | -2.05% |
| Emerging Local (EMLC) | 0.35% | 0.41% | -0.33% | 1.82% | 8.00% |
| Emerging USD (EMB) | 0.20% | -0.41% | 0.34% | 1.87% | 9.59% |
| International USD (BNDX) | 0.15% | -0.39% | 0.16% | 0.62% | 2.09% |
| Municipals | |||||
| Long-Term (MLN) | 0.06% | 0.62% | 1.03% | 2.69% | 9.61% |
| Intermediate (MUB) | 0.05% | 0.18% | 0.68% | 1.45% | 6.35% |
| High Yield (HYD) | 0.03% | 0.02% | 1.51% | 2.32% | 7.97% |
| Short-Term (SUB) | -0.01% | 0.04% | 0.34% | 0.86% | 2.36% |
Explore the related Explorers: Taxable → · Municipal → · Specialty →
Commodities
The commodities complex was driven higher primarily by a surge in energy and precious metals prices. Escalating geopolitical tensions in the Middle East sent Brent Crude (BNO) up 2.80% and WTI Crude (USO) up 2.02%. Precious metals also advanced, with Palladium (PALL) leading the group with a 4.27% gain, followed by Silver (SLV) which rose 1.94%. Agricultural commodities were mixed, as Wheat (WEAT) gained 1.06% while Soybeans (SOYB) edged down 0.36%.
| Name (Ticker) | 1-Day | 1 Month | 3 Month | YTD | 1 Year |
|---|---|---|---|---|---|
| Broad Commodities (DJP) | 1.17% | 1.30% | -1.52% | 23.88% | 34.54% |
| Agriculture | |||||
| Wheat (WEAT) | 1.06% | 7.03% | 5.75% | 19.73% | 6.50% |
| Sugar (CANE) | 0.92% | 4.79% | 4.02% | 0.87% | -10.22% |
| Broad (DBA) | -0.32% | 5.30% | 1.88% | 8.27% | 10.59% |
| Corn (CORN) | -0.34% | 4.11% | -1.52% | -1.35% | 0.17% |
| Soybeans (SOYB) | -0.36% | 4.60% | 4.21% | 15.46% | 17.67% |
| Energy | |||||
| Brent Crude (BNO) | 2.80% | -1.11% | -0.46% | 66.98% | 55.87% |
| WTI Crude (USO) | 2.02% | -4.19% | -2.97% | 73.76% | 58.91% |
| Broad (DBE) | 1.79% | 0.60% | 3.67% | 69.05% | 57.79% |
| Natural Gas (UNG) | 1.45% | -7.31% | -0.38% | -14.19% | -31.20% |
| Industrial Metals | |||||
| Copper (CPER) | 1.58% | -2.55% | 3.44% | 10.24% | 12.43% |
| Broad (DBB) | 0.57% | -4.31% | -1.48% | 7.32% | 31.77% |
| Precious Metals | |||||
| Palladium (PALL) | 4.27% | 2.02% | -17.98% | -18.49% | 8.61% |
| Silver (SLV) | 1.94% | -13.25% | -26.19% | -17.46% | 53.54% |
| Platinum (PPLT) | 1.79% | -4.89% | -22.80% | -20.72% | 18.92% |
| Broad (DBP) | 1.58% | -5.62% | -18.69% | -9.23% | 24.78% |
| Gold (GLD) | 1.37% | -3.72% | -16.39% | -6.10% | 20.82% |
Explore the Commodities Explorer →
Cryptocurrency
Digital assets posted strong gains, rallying alongside traditional risk assets amid positive macro data. Ethereum (ETHA) was a standout performer, climbing 6.06% and extending its one-month gain to nearly 13%. Bitcoin (IBIT) also advanced solidly, rising 3.86% on the session. The broad-based Multi-Coin (NCIQ) index increased by 4.23%, reflecting widespread strength across the cryptocurrency market.
| Name (Ticker) | 1-Day | 1 Month | 3 Month | YTD | 1 Year |
|---|---|---|---|---|---|
| Solana (SOLZ) | 2.79% | 15.67% | -8.36% | -38.63% | -56.81% |
| Bitcoin (IBIT) | 3.86% | 1.50% | -13.17% | -26.32% | -46.35% |
| Multi-Coin (NCIQ) | 4.23% | 3.13% | -13.83% | -29.00% | -47.55% |
| XRP (XRP) | 4.41% | -1.53% | -18.32% | -39.30% | — |
| Ethereum (ETHA) | 6.06% | 12.81% | -18.93% | -36.78% | -37.67% |
Explore the Digital Assets Explorer →
What to Watch Today
Looking ahead to Wednesday, market participants will be closely watching the next round of inflation data with the release of the Producer Price Index (PPI) for June. Other key economic reports include the July Empire State Manufacturing Index, both due before the market opens. In the afternoon, the Federal Reserve will release its Beige Book, which provides anecdotal evidence on economic conditions. Investors will also monitor the second day of testimony from Federal Reserve Chair Kevin Warsh, this time before the Senate Banking Committee.
