Macro Overview
Global equity markets advanced, driven by a rebound in technology and strong performance in Asia. In the U.S., the S&P 500 (IVV) gained 0.88%, while international markets saw even stronger returns, with Developed ex-U.S. (EFA) up 1.45%. The standout performer was Emerging Markets (EEM), which surged 2.80%. In contrast, rising Treasury yields pushed the U.S. Aggregate Bond (AGG) index down 0.21%, while Broad Commodities (DJP) rose 1.46% amid geopolitical tensions.
U.S. Size & Style
A broad-based rally lifted all U.S. size and style segments, with a clear preference for growth and smaller-capitalization stocks. Mid-Cap Growth (IJK) led the advance with a 1.47% gain, followed closely by Large Growth (IVW) at 1.23%. Smaller companies also saw strong buying interest, as the Russell 2000 proxy Small Cap (IJR) rose 1.01%. Value-oriented funds also gained but lagged their growth counterparts across the cap spectrum.
| Name (Ticker) | 1-Day | 1 Month | 3 Month | YTD | 1 Year |
|---|---|---|---|---|---|
| Large Value (IVE) | 0.36% | 1.85% | 5.33% | 9.55% | 18.79% |
| Large Cap (IVV) | 0.88% | 0.25% | 6.60% | 10.37% | 20.45% |
| Large Growth (IVW) | 1.23% | -1.17% | 7.59% | 10.81% | 21.51% |
| Mid Value (IJJ) | 0.59% | 1.83% | 4.46% | 12.83% | 18.95% |
| Mid Cap (IJH) | 1.05% | -0.08% | 4.10% | 15.28% | 21.69% |
| Mid Growth (IJK) | 1.47% | -1.84% | 3.63% | 17.44% | 24.05% |
| Small Value (IJS) | 1.01% | 3.02% | 7.98% | 21.47% | 36.26% |
| Small Cap (IJR) | 1.01% | 2.35% | 8.83% | 22.52% | 33.04% |
| Small Growth (IJT) | 1.15% | 1.78% | 9.62% | 23.47% | 29.86% |
Explore the U.S. Size & Style Explorer →
U.S. Sectors & Industries
The Technology (XLK) sector was the unambiguous leader, climbing 2.89% on the back of a significant rebound in semiconductor and AI-related stocks. The Energy (XLE) sector also posted a solid 0.97% gain as crude oil prices rose amid geopolitical tensions in the Middle East. On the other end of the spectrum, defensive sectors lagged, with Consumer Staples (XLP) and Communication Services (XLC) being the only two sectors to finish in negative territory, down 0.94% and 0.69% respectively.
| Name (Ticker) | 1-Day | 1 Month | 3 Month | YTD | 1 Year |
|---|---|---|---|---|---|
| S&P 500 (SPY) | 0.83% | 0.21% | 6.55% | 10.32% | 20.32% |
| Technology (XLK) | 2.89% | -5.46% | 17.00% | 25.87% | 39.13% |
| Energy (XLE) | 0.97% | 9.57% | 5.45% | 32.63% | 41.78% |
| Health Care (XLV) | 0.63% | 7.73% | 10.30% | 4.40% | 24.37% |
| Industrials (XLI) | 0.30% | -1.00% | 4.47% | 15.78% | 20.10% |
| Consumer Discretionary (XLY) | 0.23% | -1.76% | -3.25% | -3.42% | 3.72% |
| Materials (XLB) | 0.14% | -2.94% | -2.86% | 11.37% | 12.50% |
| Financials (XLF) | 0.12% | 5.11% | 7.66% | 3.33% | 8.75% |
| Utilities (XLU) | -0.04% | 1.00% | 0.57% | 6.63% | 9.89% |
| Real Estate (XLRE) | -0.07% | 3.95% | 4.14% | 13.74% | 11.30% |
| Communication Services (XLC) | -0.69% | 0.80% | -5.84% | -5.99% | 3.54% |
| Consumer Staples (XLP) | -0.94% | 1.62% | 3.43% | 9.58% | 6.83% |
Explore the U.S. Sectors & Industries Explorer →
Global Thematic
Thematic performance was dominated by the sharp recovery in semiconductor-related industries. Memory chip strategies were the day’s top performers, with the Tema Memory ETF (DISK) and Roundhill Memory ETF (DRAM) advancing 11.87% and 10.91%, respectively. This strength in hardware contrasted sharply with weakness in software and cybersecurity themes. Cybersecurity funds were among the worst performers, evidenced by the WisdomTree Cybersecurity Fund (WCBR) falling 3.28%.
| Name (Ticker) | 1-Day |
|---|---|
| Leaders | |
| Tema Memory ETF (DISK) | 11.87% |
| Roundhill Memory ETF (DRAM) | 10.91% |
| Tuttle Capital Pure Play Photonics ETF (FOTO) | 9.05% |
| First Trust SkyBridge Crypto Industry & Digital Economy ETF (CRPT) | 7.25% |
| Corgi Lithography & Semiconductor Photonics ETF (EUV) | 7.00% |
| Laggards | |
| WisdomTree Cloud Computing Fund (WCLD) | -3.33% |
| WisdomTree Cybersecurity Fund (WCBR) | -3.28% |
| Global X Cybersecurity ETF (BUG) | -2.82% |
| Amplify Cybersecurity ETF (HACK) | -1.98% |
| iShares Cybersecurity & Tech ETF (IHAK) | -1.96% |
Explore the Thematic Explorer →
Developed ex-U.S. & Emerging Markets
A powerful rally across Asian markets propelled international equities higher, with South Korea (EWY) delivering an exceptional 6.16% return. Taiwan (EWT) also posted a very strong session, gaining 4.84%, while Japan (EWJ) rose 2.55%. This regional strength stood in contrast to China (MCHI), which was a notable exception with a slight decline of 0.15%. European markets, such as Germany (EWG), also participated in the global rally, adding 1.13%.
| Name (Ticker) | 1-Day | 1 Month | 3 Month | YTD | 1 Year |
|---|---|---|---|---|---|
| Developed Markets ex-U.S. | |||||
| Developed ex-U.S. (EFA) | 1.45% | -0.34% | 4.00% | 10.07% | 21.15% |
| Australia (EWA) | 0.56% | 0.42% | -1.34% | 11.06% | 12.19% |
| Canada (EWC) | 0.73% | 2.04% | 2.60% | 10.01% | 28.15% |
| France (EWQ) | 1.01% | -1.35% | 1.99% | 2.83% | 8.06% |
| Germany (EWG) | 1.13% | -0.46% | 0.22% | -0.82% | -0.63% |
| Hong Kong (EWH) | 0.72% | 4.79% | -2.68% | 6.62% | 14.27% |
| Japan (EWJ) | 2.55% | -3.66% | 6.99% | 15.47% | 33.27% |
| Netherlands (EWN) | 2.18% | -4.02% | 8.38% | 20.37% | 33.45% |
| South Korea (EWY) | 6.16% | -21.12% | 17.79% | 77.84% | 139.39% |
| Switzerland (EWL) | 0.53% | 2.17% | 4.83% | 6.35% | 16.98% |
| U.K. (EWU) | 0.82% | 2.88% | 1.07% | 7.88% | 20.88% |
| Emerging Markets | |||||
| Emerging Markets (EEM) | 2.80% | -7.70% | 5.49% | 20.03% | 34.85% |
| Brazil (EWZ) | 0.39% | 5.60% | -11.84% | 13.19% | 37.56% |
| China (MCHI) | -0.15% | 2.33% | -6.54% | -9.51% | -4.82% |
| India (INDA) | 0.47% | -1.61% | -2.05% | -9.75% | -10.90% |
| Indonesia (EIDO) | 1.36% | 2.17% | -19.75% | -30.87% | -26.38% |
| Malaysia (EWM) | 0.11% | 1.53% | -1.70% | 4.22% | 20.55% |
| Mexico (EWW) | 1.00% | -1.93% | -1.35% | 10.99% | 32.42% |
| South Africa (EZA) | 1.05% | -6.68% | -10.46% | -7.56% | 20.46% |
| Taiwan (EWT) | 4.84% | -8.56% | 20.41% | 58.32% | 77.25% |
| Thailand (THD) | 0.70% | 1.69% | 8.17% | 26.11% | 35.33% |
Explore the Global (ex-U.S.) Size & Style Explorer →
Fixed Income
Fixed income markets broadly declined as U.S. Treasury yields moved higher. The core U.S. Aggregate Bond (AGG) index shed 0.21%, with longer-duration funds experiencing more significant price drops. A notable exception to the trend was the Convertible (CWB) bond ETF, which rallied 1.84%, benefiting from the strong upward move in its underlying equities. Credit-sensitive areas like High Yield (HYG) were relatively stable, finishing the day nearly unchanged.
| Name (Ticker) | 1-Day | 1 Month | 3 Month | YTD | 1 Year |
|---|---|---|---|---|---|
| Multisector | |||||
| Short-Term (BSV) | -0.12% | 0.04% | -0.09% | 0.37% | 2.87% |
| Core Enhanced (IUSB) | -0.15% | -0.75% | -0.61% | 0.06% | 3.65% |
| Core (AGG) | -0.21% | -0.84% | -0.75% | -0.18% | 3.36% |
| Long-Term (BLV) | -0.36% | -2.84% | -1.98% | -1.51% | 2.69% |
| Government | |||||
| Ultrashort (BIL) | 0.00% | 0.28% | 0.87% | 1.95% | 3.77% |
| Short-Term (SPTS) | -0.10% | 0.13% | 0.15% | 0.65% | 2.93% |
| Inflation Protected (TIP) | -0.16% | -0.42% | -0.42% | 0.77% | 2.45% |
| Intermediate (SPTI) | -0.25% | -0.35% | -0.90% | -0.62% | 2.24% |
| Long-Term (SPTL) | -0.31% | -2.78% | -2.02% | -1.73% | 2.21% |
| Specialty | |||||
| Convertible (CWB) | 1.84% | -6.15% | 4.16% | 17.07% | 23.99% |
| Bank Loans (BKLN) | 0.00% | 0.69% | 0.74% | 0.65% | 3.93% |
| Preferred Stock (PFF) | 0.00% | -2.46% | -1.63% | 0.39% | 2.78% |
| High Yield (HYG) | -0.04% | 0.01% | 0.60% | 1.75% | 5.09% |
| Mortgage Backed (MBB) | -0.17% | -0.78% | -0.69% | 0.19% | 4.73% |
| Corporate (SPIB) | -0.18% | -0.28% | -0.28% | 0.30% | 3.58% |
| International & EM | |||||
| International USD (BNDX) | 0.02% | -0.85% | 0.14% | 0.35% | 1.31% |
| Emerging USD (EMB) | 0.01% | -0.99% | 0.48% | 1.67% | 8.81% |
| Emerging Local (EMLC) | 0.00% | -0.26% | -0.26% | 1.38% | 6.98% |
| International Local (IGOV) | -0.25% | -1.50% | -2.83% | -2.59% | -3.16% |
| Municipals | |||||
| Short-Term (SUB) | 0.00% | -0.14% | 0.18% | 0.79% | 2.29% |
| Long-Term (MLN) | -0.14% | -0.29% | 0.06% | 1.99% | 9.92% |
| Intermediate (MUB) | -0.22% | -0.81% | -0.20% | 0.71% | 5.86% |
| High Yield (HYD) | -0.32% | -0.99% | 0.34% | 1.50% | 8.13% |
Explore the related Explorers: Taxable → · Municipal → · Specialty →
Commodities
Commodities posted broad gains, influenced by geopolitical developments and a risk-on mood. Energy markets were strong, with WTI Crude (USO) rising 2.66% as tensions in the Middle East supported prices. Precious metals also had a robust session, led by a 4.12% jump in Silver (SLV), while Gold (GLD) gained 1.96%. Industrial metals joined the rally, with Copper (CPER) advancing 2.89%.
| Name (Ticker) | 1-Day | 1 Month | 3 Month | YTD | 1 Year |
|---|---|---|---|---|---|
| Broad Commodities (DJP) | 1.46% | 6.42% | 0.23% | 27.36% | 36.58% |
| Agriculture | |||||
| Wheat (WEAT) | 0.84% | 9.85% | 8.81% | 26.19% | 12.25% |
| Corn (CORN) | 0.56% | 6.25% | -0.94% | 1.58% | 2.45% |
| Broad (DBA) | 0.46% | 5.71% | 3.61% | 10.31% | 12.59% |
| Sugar (CANE) | 0.31% | 4.81% | 6.29% | 0.46% | -10.30% |
| Soybeans (SOYB) | -0.12% | 6.51% | 4.49% | 18.25% | 18.23% |
| Energy | |||||
| WTI Crude (USO) | 2.66% | 12.17% | 0.47% | 86.31% | 70.46% |
| Brent Crude (BNO) | 2.51% | 15.22% | 0.98% | 78.53% | 66.75% |
| Broad (DBE) | 1.74% | 13.21% | 4.97% | 78.09% | 66.06% |
| Natural Gas (UNG) | 1.07% | -11.41% | -5.02% | -15.17% | -29.16% |
| Industrial Metals | |||||
| Copper (CPER) | 2.89% | 1.72% | 8.12% | 13.07% | 13.14% |
| Broad (DBB) | 1.63% | -1.50% | 0.57% | 8.63% | 29.80% |
| Precious Metals | |||||
| Silver (SLV) | 4.12% | -10.80% | -22.50% | -17.60% | 50.16% |
| Platinum (PPLT) | 2.42% | -3.58% | -19.05% | -20.51% | 13.10% |
| Broad (DBP) | 2.32% | -4.76% | -15.28% | -8.90% | 22.80% |
| Palladium (PALL) | 2.11% | 0.22% | -15.73% | -19.93% | 0.95% |
| Gold (GLD) | 1.96% | -3.18% | -12.75% | -5.42% | 19.70% |
Explore the Commodities Explorer →
Cryptocurrency
Digital assets moved higher in line with the positive sentiment seen across other risk assets. The largest crypto-tracking products posted gains, with Bitcoin (IBIT) rising 2.11% and Ethereum (ETHA) adding 1.40%. The broader Multi-Coin (NCIQ) index also advanced 1.91%. The positive performance was widespread across the complex, reflecting increased investor appetite for speculative assets during the session.
| Name (Ticker) | 1-Day | 1 Month | 3 Month | YTD | 1 Year |
|---|---|---|---|---|---|
| Solana (SOLZ) | 0.26% | 12.39% | -8.38% | -38.07% | -63.48% |
| Ethereum (ETHA) | 1.40% | 12.81% | -16.25% | -35.22% | -48.69% |
| Multi-Coin (NCIQ) | 1.91% | 5.69% | -12.63% | -27.28% | -46.63% |
| Bitcoin (IBIT) | 2.11% | 5.76% | -11.39% | -24.13% | -43.21% |
| XRP (XRP) | 3.53% | 1.10% | -18.23% | -37.04% | — |
Explore the Digital Assets Explorer →
What to Watch Today
Looking ahead to Wednesday, market participants will monitor several key data releases and events. The morning will feature the MBA Mortgage Applications report, followed by the EIA Petroleum Status Report, which will be watched closely given recent oil price volatility. In the afternoon, the U.S. Treasury is scheduled to hold a 20-Year Bond Auction. Additionally, the corporate earnings calendar is active, with notable reports expected from AT&T and Google.
