Macro Overview
U.S. Size & Style
Growth styles continued to outperform value across market caps, led by Large Growth (IVW) at 0.61%, which now carries an RSI of 69, approaching overbought territory and reflecting persistent momentum in year-to-date gains of 18.87%. Large Cap (IVV) rose 0.55% with an RSI of 62, while Large Value (IVE) lagged at 0.50%. Mid-cap performance mirrored this pattern, with Mid Growth (IJK) up 0.57% versus Mid Value (IJJ) at 0.36%. Small caps were the notable laggards of the day, with Small Value (IJS) down 0.26% and Small Cap (IJR) off 0.12%, both showing RSI readings in the low-40s and fewer than 30% of constituents trading above their 50-day moving average, suggesting narrower breadth at the smaller end of the market.
| Name (Ticker) | 1-Day | 1 Month | 3 Month | YTD | 1 Year |
|---|---|---|---|---|---|
| Large Value (IVE) | 0.50% | -1.78% | 0.73% | 10.51% | 13.03% |
| Large Cap (IVV) | 0.55% | 1.41% | 3.98% | 15.19% | 17.32% |
| Large Growth (IVW) | 0.61% | 4.06% | 6.66% | 18.87% | 20.58% |
| Mid Value (IJJ) | 0.36% | -4.24% | -3.52% | 8.52% | 9.69% |
| Mid Cap (IJH) | 0.43% | -2.14% | -2.87% | 13.01% | 13.78% |
| Mid Growth (IJK) | 0.57% | -0.17% | -2.32% | 17.16% | 17.73% |
| Small Value (IJS) | -0.26% | -4.67% | -3.14% | 15.97% | 18.46% |
| Small Cap (IJR) | -0.12% | -4.12% | -5.08% | 16.49% | 17.43% |
| Small Growth (IJT) | -0.02% | -3.52% | -7.13% | 16.75% | 16.21% |
U.S. Sectors & Industries
Utilities (XLU) led all sectors with a 2.98% gain, benefiting from the nuclear power narrative tied to the Constellation-Google agreement that lifted independent power producers broadly. Consumer Discretionary (XLY) and Real Estate (XLRE) followed with gains of 1.18% and 1.06%, respectively, though Real Estate’s RSI of 30 and just 3% of constituents above their 50-day average point to persistent technical weakness despite the one-day bounce. Technology (XLK) added 0.53%, extending a 40.80% year-to-date advance, with an RSI of 72 now firmly in overbought territory and 74% of constituents above their 50-day moving average, the strongest breadth reading among all sectors. Real Estate was the only sector to post a decline on the day based on the verified context, though the data shown here reflects a positive print; Health Care (XLV) was the lone sector in the dataset to close lower, down 0.17%. Financials (XLF) posted a modest 0.24% gain but carries an RSI of 34 and only 7% of constituents above the 50-day average, reflecting weaker underlying technical conditions.
| Name (Ticker) | 1-Day | 1 Month | 3 Month | YTD | 1 Year |
|---|---|---|---|---|---|
| S&P 500 (SPY) | 0.55% | 1.41% | 3.96% | 15.14% | 17.25% |
| Utilities (XLU) | 2.98% | -3.75% | -8.47% | -1.58% | -5.69% |
| Consumer Discretionary (XLY) | 1.18% | -2.56% | -5.12% | -5.86% | -6.10% |
| Real Estate (XLRE) | 1.06% | -5.66% | -6.43% | 4.29% | 2.10% |
| Consumer Staples (XLP) | 0.94% | -2.65% | -2.09% | 7.34% | 8.51% |
| Industrials (XLI) | 0.87% | -1.84% | -7.29% | 11.49% | 11.86% |
| Technology (XLK) | 0.53% | 7.98% | 10.16% | 40.80% | 41.18% |
| Energy (XLE) | 0.47% | 0.12% | 20.72% | 45.41% | 46.75% |
| Materials (XLB) | 0.46% | -4.73% | -3.89% | 11.06% | 12.77% |
| Financials (XLF) | 0.24% | -6.71% | -3.46% | -0.19% | 2.15% |
| Communication Services (XLC) | 0.04% | -0.02% | 1.63% | -4.30% | -3.00% |
| Health Care (XLV) | -0.17% | -2.17% | 3.56% | 9.27% | 17.86% |
Global Thematic
Nuclear and uranium-themed funds dominated the thematic leaderboard, with the VanEck Uranium and Nuclear ETF (NLR) up 5.50%, followed by the Sprott Uranium Miners ETF (URNM) at 4.97% and the Sprott Junior Uranium Miners ETF (URNJ) at 4.87%, directly tied to the Constellation Energy-Google power agreement. The Global X Uranium ETF (URA) gained 4.01%, while the Roundhill Neocloud ETF (NCLD) added 4.15% on continued AI infrastructure optimism. On the other end, genomics and biotechnology-focused funds saw sharp declines, led by the ARK Genomic Revolution ETF (ARKG) down 8.84% and the Global X Genomics & Biotechnology ETF (GNOM) off 6.50%. The divergence highlights a rotation toward energy infrastructure and away from speculative biotech names on this particular session.
| Name (Ticker) | 1-Day |
|---|---|
| Leaders | |
| VanEck Uranium and Nuclear ETF (NLR) | 5.50% |
| Sprott Uranium Miners ETF (URNM) | 4.97% |
| Sprott Junior Uranium Miners ETF (URNJ) | 4.87% |
| Roundhill Neocloud ETF (NCLD) | 4.15% |
| Global X Uranium ETF (URA) | 4.01% |
| Laggards | |
| ARK Genomic Revolution ETF (ARKG) | -8.84% |
| Global X Genomics & Biotechnology ETF (GNOM) | -6.50% |
| iShares Genomics Immunology and Healthcare ETF (IDNA) | -4.33% |
| Fidelity Disruptive Medicine ETF (FMED) | -4.21% |
| F/M Emerald Life Sciences Innovation ETF (LFSC) | -4.15% |
Developed ex-U.S. & Emerging Markets
Within developed markets, Canada (EWC) gained 0.68% and Germany (EWG) added 0.58%, while Hong Kong (EWH) declined 0.69%. Japan (EWJ) was roughly flat on the day but remains a year-to-date standout at 23.67%. Among emerging markets, South Korea (EWY) fell 2.64%, a notable reversal given its extraordinary 91.73% year-to-date and 124.87% one-year gains, suggesting some profit-taking after an extended run. Taiwan (EWT) slipped 0.33% but also retains an 85.13% year-to-date gain, while Mexico (EWW) led gainers with a 1.14% advance. China (MCHI) continues to lag broader emerging-market performance, down 12.50% year-to-date against EEM’s 25.41% gain.
| Name (Ticker) | 1-Day | 1 Month | 3 Month | YTD | 1 Year |
|---|---|---|---|---|---|
| Developed Markets ex-U.S. | |||||
| Developed ex-U.S. (EFA) | 0.18% | -3.81% | -1.18% | 10.23% | 13.10% |
| Australia (EWA) | 0.42% | -5.56% | 0.78% | 10.55% | 7.64% |
| Canada (EWC) | 0.68% | -4.61% | 1.93% | 10.25% | 16.94% |
| France (EWQ) | 0.05% | -8.49% | -9.25% | -4.86% | -2.65% |
| Germany (EWG) | 0.58% | -5.47% | -2.74% | -0.44% | -0.25% |
| Hong Kong (EWH) | -0.69% | -6.81% | 1.84% | 3.37% | 5.28% |
| Japan (EWJ) | 0.02% | 1.06% | 4.25% | 23.67% | 24.45% |
| Netherlands (EWN) | 0.61% | -1.43% | -1.02% | 20.60% | 19.66% |
| South Korea (EWY) | -2.64% | -1.31% | -1.82% | 91.73% | 124.87% |
| Switzerland (EWL) | 0.05% | -6.08% | -6.92% | 0.63% | 6.38% |
| U.K. (EWU) | 0.39% | -4.57% | -1.80% | 6.95% | 12.61% |
| Emerging Markets | |||||
| Emerging Markets (EEM) | -0.67% | -0.63% | 1.04% | 25.41% | 27.76% |
| Brazil (EWZ) | 0.05% | 13.58% | 23.14% | 36.64% | 48.37% |
| China (MCHI) | -0.11% | -4.90% | 0.38% | -12.50% | -20.15% |
| India (INDA) | 0.34% | -6.37% | -6.32% | -13.54% | -11.43% |
| Indonesia (EIDO) | 0.08% | -8.65% | 1.02% | -35.06% | -29.61% |
| Malaysia (EWM) | 0.00% | -3.66% | -0.44% | 1.16% | 7.77% |
| Mexico (EWW) | 1.14% | -5.14% | -4.89% | 6.38% | 14.89% |
| South Africa (EZA) | 0.78% | -11.14% | -1.50% | -5.51% | 4.99% |
| Taiwan (EWT) | -0.33% | 4.84% | 9.64% | 85.13% | 89.19% |
| Thailand (THD) | 0.60% | -2.02% | -1.37% | 23.33% | 25.07% |
Fixed Income
Fixed income markets firmed broadly as Treasury yields pulled back from multi-decade highs, with the 10-year yield falling to 5.27% from Monday’s 5.34% peak. Long-Term Treasuries (BLV) gained 0.26% on the day, though the segment remains down 6.77% year-to-date, reflecting the broader pressure from this year’s rate environment. Core Aggregate exposure (AGG) rose 0.24%, while Emerging Market USD debt (EMB) led credit segments with a 0.68% gain. High Yield (HYG) added 0.38%, outperforming investment-grade Corporates (SPIB) at 0.25%, indicating modest risk appetite alongside the yield retreat. Municipal bonds were a relative laggard, with Intermediate Municipals (MUB) down 0.10% and Long-Term Municipals (MLN) off 0.37%.
| Name (Ticker) | 1-Day | 1 Month | 3 Month | YTD | 1 Year |
|---|---|---|---|---|---|
| Multisector | |||||
| Long-Term (BLV) | 0.26% | -4.68% | -7.40% | -6.77% | -7.02% |
| Core Enhanced (IUSB) | 0.25% | -2.34% | -3.23% | -2.34% | -1.38% |
| Core (AGG) | 0.24% | -2.38% | -3.35% | -2.62% | -1.73% |
| Short-Term (BSV) | 0.08% | -0.83% | -0.85% | -0.19% | 0.90% |
| Government | |||||
| Long-Term (SPTL) | 0.25% | -5.29% | -7.74% | -7.56% | -7.62% |
| Inflation Protected (TIP) | 0.19% | -2.61% | -3.27% | -1.97% | -1.91% |
| Intermediate (SPTI) | 0.18% | -2.00% | -2.77% | -2.72% | -1.66% |
| Short-Term (SPTS) | 0.07% | -0.40% | -0.11% | 0.65% | 1.70% |
| Ultrashort (BIL) | 0.01% | 0.29% | 0.92% | 2.74% | 3.66% |
| Specialty | |||||
| Convertible (CWB) | 0.47% | -0.41% | -2.31% | 16.18% | 12.23% |
| High Yield (HYG) | 0.38% | -1.95% | -1.82% | 0.18% | 1.35% |
| Mortgage Backed (MBB) | 0.30% | -3.22% | -4.13% | -3.06% | -1.68% |
| Corporate (SPIB) | 0.25% | -1.55% | -2.18% | -1.27% | -0.21% |
| Bank Loans (BKLN) | 0.15% | 0.12% | 2.30% | 2.42% | 4.41% |
| Preferred Stock (PFF) | 0.10% | -2.24% | -2.53% | -0.79% | -2.09% |
| International & EM | |||||
| Emerging USD (EMB) | 0.68% | -3.25% | -4.31% | -1.72% | 0.73% |
| Emerging Local (EMLC) | 0.57% | -2.58% | -1.42% | 0.80% | 3.86% |
| International Local (IGOV) | 0.30% | -3.60% | -2.64% | -4.25% | -4.54% |
| International USD (BNDX) | 0.13% | -1.02% | -2.11% | -0.97% | -0.57% |
| Municipals | |||||
| Short-Term (SUB) | 0.06% | -1.03% | -1.05% | -0.10% | 0.66% |
| Intermediate (MUB) | -0.10% | -2.63% | -5.31% | -3.38% | -2.01% |
| High Yield (HYD) | -0.15% | -2.81% | -6.02% | -3.14% | -1.27% |
| Long-Term (MLN) | -0.37% | -3.99% | -7.68% | -4.55% | -3.30% |
Explore the related Explorers: Taxable → · Municipal → · Specialty →
Commodities
Broad Commodities (DJP) advanced 1.02%, with agricultural commodities leading the session as Wheat (WEAT) rose 1.59%, Soybeans (SOYB) gained 1.50%, and Corn (CORN) added 2.06%. Energy commodities posted more modest gains despite falling oil prices, with Brent Crude (BNO) up 0.78% and WTI Crude (USO) up 0.64%, though both remain up more than 98% over the past year amid continued strength tied to Hormuz Strait flows running near 76% of prewar levels. Natural Gas (UNG) rose 1.80% on the day but remains down 12.40% year-to-date. Precious metals were mixed, with Gold (GLD) up 0.72% while Platinum (PPLT) declined 0.71%. Industrial metals were firm, with Copper (CPER) up 0.43%.
| Name (Ticker) | 1-Day | 1 Month | 3 Month | YTD | 1 Year |
|---|---|---|---|---|---|
| Broad Commodities (DJP) | 1.02% | 0.90% | 16.66% | 38.62% | 45.18% |
| Agriculture | |||||
| Corn (CORN) | 2.06% | -3.89% | 10.54% | 8.80% | 9.60% |
| Wheat (WEAT) | 1.59% | -3.78% | 11.16% | 27.64% | 23.14% |
| Soybeans (SOYB) | 1.50% | 0.29% | 9.87% | 26.85% | 27.32% |
| Broad (DBA) | 1.37% | 0.00% | 4.76% | 13.05% | 11.76% |
| Sugar (CANE) | 0.49% | 7.27% | 23.24% | 25.58% | 14.51% |
| Energy | |||||
| Natural Gas (UNG) | 1.80% | 1.70% | -8.28% | -12.40% | -19.25% |
| Broad (DBE) | 0.90% | 6.65% | 41.35% | 111.22% | 102.69% |
| Brent Crude (BNO) | 0.78% | 10.37% | 55.06% | 118.68% | 107.89% |
| WTI Crude (USO) | 0.64% | 2.08% | 38.87% | 109.53% | 98.86% |
| Industrial Metals | |||||
| Copper (CPER) | 0.43% | 0.20% | 5.79% | 14.50% | 28.59% |
| Broad (DBB) | 0.40% | -2.21% | 3.79% | 9.76% | 23.16% |
| Precious Metals | |||||
| Gold (GLD) | 0.72% | -6.02% | 0.04% | -3.54% | 4.91% |
| Broad (DBP) | 0.64% | -6.34% | -0.22% | -6.62% | 7.59% |
| Silver (SLV) | 0.58% | -7.31% | -1.18% | -13.92% | 25.85% |
| Palladium (PALL) | -0.14% | -16.04% | -8.21% | -26.92% | -12.43% |
| Platinum (PPLT) | -0.71% | -6.24% | 4.32% | -17.02% | 4.41% |
Cryptocurrency
Digital asset products were modestly weaker across the board, with Ethereum (ETHA) declining 0.65% and Bitcoin (IBIT) off a smaller 0.14%. Solana exposure (SOLZ) was the lone gainer, up 0.42% on the day and standing out with an 18.70% one-month advance. XRP (XRP) slipped a marginal 0.06%, while the Multi-Coin basket (NCIQ) fell 0.23%. Despite the modest daily pullback, most crypto products retain strong one-month momentum, with Ethereum up 9.59% and Solana up 18.70% over that period, even as year-to-date figures remain negative across the group. The divergence between short-term momentum and year-to-date performance reflects the volatility that has characterized digital assets through 2026.
What to Watch Today
Markets will focus on Wednesday’s release of the FOMC Meeting Minutes from the September 15-16 meeting at 2:00 PM ET, which should offer clarity on whether the Fed’s prior rate action was a one-time move or the start of a tightening cycle, with traders currently pricing roughly 20% odds of an October hike. Ahead of that, MBA Mortgage Applications and the MBA 30-Year Mortgage Rate are due at 7:00 AM ET, following a prior weekly decline of 6% in applications. The NY Fed’s 1-Year Inflation Expectations survey for September is also scheduled, with expectations for a modest rise to 3.64% from 3.58% previously. Additional data include the weekly EIA Crude Oil Inventory report and the Consumer Credit report, both set for release on October 7.
U.S. equities extended their record run, with the S&P 500 (IVV) rising 0.55% to build on a 15.19% year-to-date advance, aided by cooling oil prices that eased inflation concerns and lifted broad market sentiment. Developed ex-U.S. markets via the MSCI EAFE (EFA) added a more modest 0.18%, while Emerging Markets (EEM) slipped 0.67%, dragged lower by a sharp 2.64% decline in South Korea. Fixed income was broadly firmer as Treasury yields retreated from multi-decade highs, with the U.S. Aggregate Bond index (AGG) up 0.24%. Broad Commodities (DJP) stood out with a 1.02% gain, extending a 38.62% year-to-date advance driven by energy and agricultural strength. The standout theme of the session was nuclear and uranium-linked equities, which surged on news of a Constellation Energy-Google power agreement, overshadowing otherwise steady broad-market gains.