Macro Overview
U.S. Size & Style
Growth styles outperformed value across the capitalization spectrum, with Large Growth (IVW) up 0.80% versus a 0.36% gain for Large Value (IVE), extending a trend visible in the 18.15% versus 11.16% year-to-date spread between the two styles. Mid Growth (IJK) was the strongest size-style segment on the day at 1.02%, while Small Value (IJS) was the lone decliner, slipping 0.35% and carrying an RSI of 37 that approaches oversold territory. Large Cap (IVV) carries an RSI of 60, consistent with constructive but not overextended momentum, while only 35% of its constituents trade above their 50-day moving average. Small-cap breadth remains notably weak, with Small Cap (IJR) showing just 27% of holdings above the 50-day average despite a positive 15.40% year-to-date return.
| Name (Ticker) | 1-Day | 1 Month | 3 Month | YTD | 1 Year |
|---|---|---|---|---|---|
| Large Value (IVE) | 0.36% | -0.02% | 1.76% | 11.16% | 14.36% |
| Large Cap (IVV) | 0.60% | 2.37% | 3.87% | 15.10% | 17.30% |
| Large Growth (IVW) | 0.80% | 4.34% | 5.52% | 18.15% | 19.44% |
| Mid Value (IJJ) | 0.12% | -2.84% | -3.30% | 7.84% | 10.51% |
| Mid Cap (IJH) | 0.55% | -1.21% | -2.70% | 12.14% | 14.27% |
| Mid Growth (IJK) | 1.02% | 0.34% | -2.16% | 16.09% | 17.78% |
| Small Value (IJS) | -0.35% | -3.96% | -3.46% | 14.69% | 19.29% |
| Small Cap (IJR) | 0.17% | -3.26% | -5.10% | 15.40% | 18.13% |
| Small Growth (IJT) | 0.71% | -2.56% | -6.85% | 15.79% | 16.72% |
U.S. Sectors & Industries
Real Estate (XLRE) led all sectors with a 1.86% gain, followed closely by Health Care (XLV) at 1.58%, consistent with the verified market context noting these two groups dominated the session. Consumer Discretionary (XLY) and Financials (XLF) also advanced over 0.9%, while Technology (XLK) rose a more modest 0.51% despite carrying the strongest breadth in the group, with 68% of constituents above their 50-day moving average and an RSI of 61. Communication Services (XLC) was the clear laggard, falling 1.51%, pressured by sharp declines in legacy telecom names following SpaceX’s spectrum acquisition announcement. Energy (XLE) also slipped 0.25% on the day even as it remains the top-performing sector year-to-date at 48.44%, with an RSI of 62 signaling continued strength.
| Name (Ticker) | 1-Day | 1 Month | 3 Month | YTD | 1 Year |
|---|---|---|---|---|---|
| S&P 500 (SPY) | 0.60% | 2.37% | 3.83% | 15.07% | 17.25% |
| Real Estate (XLRE) | 1.86% | -3.35% | -5.14% | 5.58% | 4.70% |
| Health Care (XLV) | 1.58% | 2.93% | 5.73% | 11.70% | 20.43% |
| Consumer Discretionary (XLY) | 1.02% | 0.57% | -3.21% | -4.91% | -3.26% |
| Financials (XLF) | 0.92% | -3.75% | -1.11% | 1.14% | 4.25% |
| Utilities (XLU) | 0.83% | -2.85% | -7.57% | -0.98% | -5.96% |
| Technology (XLK) | 0.51% | 5.93% | 7.37% | 38.56% | 37.69% |
| Industrials (XLI) | 0.50% | -1.21% | -6.30% | 9.97% | 11.66% |
| Materials (XLB) | 0.32% | -3.37% | -1.20% | 10.39% | 13.49% |
| Consumer Staples (XLP) | 0.01% | 1.12% | 0.94% | 9.48% | 9.85% |
| Energy (XLE) | -0.25% | 0.25% | 19.44% | 48.44% | 52.53% |
| Communication Services (XLC) | -1.51% | -0.09% | 0.20% | -5.39% | -2.77% |
Global Thematic
Cybersecurity and genomics themes dominated Friday’s thematic leaderboard, with the WisdomTree Cybersecurity Fund (WCBR) gaining 4.94% and the Global X Cybersecurity ETF (BUG) rising 4.46%, alongside the Global X Genomics & Biotechnology ETF (GNOM) up 4.44%. The Amplify Cybersecurity ETF (HACK) rounded out the top five with a 4.32% advance, reflecting broad strength across security-focused names. On the laggard side, the iShares MSCI Agriculture Producers ETF (VEGI) fell 2.36%, while the iShares U.S. Home Construction ETF (ITB) declined 1.29%. Defense and agribusiness-linked themes, including the Defiance Drone and Modern Warfare ETF (JEDI) and the VanEck Agribusiness ETF (MOO), also underperformed the broader market.
| Name (Ticker) | 1-Day |
|---|---|
| Leaders | |
| WisdomTree Cybersecurity Fund (WCBR) | 4.94% |
| Global X Cybersecurity ETF (BUG) | 4.46% |
| Global X Genomics & Biotechnology ETF (GNOM) | 4.44% |
| iShares Genomics Immunology and Healthcare ETF (IDNA) | 4.33% |
| Amplify Cybersecurity ETF (HACK) | 4.32% |
| Laggards | |
| iShares MSCI Agriculture Producers ETF (VEGI) | -2.36% |
| iShares U.S. Home Construction ETF (ITB) | -1.29% |
| Defiance Drone and Modern Warfare ETF (JEDI) | -1.26% |
| REX Drone ETF (DRNZ) | -1.03% |
| VanEck Agribusiness ETF (MOO) | -0.98% |
Developed ex-U.S. & Emerging Markets
Within developed markets, Hong Kong (EWH) led with a 1.57% gain, followed by Australia (EWA) and Canada ('>EWC) both rising above 1.2%, while France (EWQ) lagged with a 0.48% gain against a steep 5.52% year-to-date decline. South Korea (EWY) remains the standout longer-term performer with an extraordinary 82.31% year-to-date return despite a more modest 0.54% move on the day. Emerging markets outperformed broadly, led by China (MCHI) at 2.32% and Brazil (EWZ) at 2.23%, with Brazil also showing strong momentum across the 1-month (14.37%) and 3-month (24.54%) windows. Indonesia (EIDO) advanced 1.89% on the day but remains the weakest emerging market performer year-to-date at -35.28%, highlighting the divergence within the asset class.
| Name (Ticker) | 1-Day | 1 Month | 3 Month | YTD | 1 Year |
|---|---|---|---|---|---|
| Developed Markets ex-U.S. | |||||
| Developed ex-U.S. (EFA) | 0.68% | -2.97% | -0.50% | 9.37% | 13.80% |
| Australia (EWA) | 1.38% | -3.38% | 1.49% | 10.83% | 9.67% |
| Canada (EWC) | 1.22% | -3.21% | 1.11% | 9.97% | 18.42% |
| France (EWQ) | 0.48% | -7.51% | -7.82% | -5.52% | -2.66% |
| Germany (EWG) | 0.71% | -4.83% | -1.40% | -1.71% | -0.75% |
| Hong Kong (EWH) | 1.57% | -2.78% | 4.01% | 5.47% | 7.33% |
| Japan (EWJ) | 0.55% | 0.89% | 4.64% | 21.85% | 25.21% |
| Netherlands (EWN) | 0.70% | -2.70% | -2.10% | 17.98% | 20.68% |
| South Korea (EWY) | 0.54% | -7.10% | -4.06% | 82.31% | 117.28% |
| Switzerland (EWL) | 0.84% | -1.66% | -5.11% | 1.41% | 7.89% |
| U.K. (EWU) | 0.63% | -2.74% | 0.24% | 7.30% | 14.35% |
| Emerging Markets | |||||
| Emerging Markets (EEM) | 1.06% | -2.45% | 0.03% | 22.71% | 26.28% |
| Brazil (EWZ) | 2.23% | 14.37% | 24.54% | 38.36% | 53.47% |
| China (MCHI) | 2.32% | -1.48% | -1.20% | -11.94% | -17.77% |
| India (INDA) | 1.03% | -5.42% | -6.10% | -14.84% | -12.84% |
| Indonesia (EIDO) | 1.89% | -9.44% | 0.76% | -35.28% | -30.76% |
| Malaysia (EWM) | 1.06% | -4.82% | -2.13% | -0.55% | 6.39% |
| Mexico (EWW) | 0.59% | -5.95% | -3.08% | 5.30% | 13.76% |
| South Africa (EZA) | 1.82% | -10.53% | 0.82% | -5.30% | 5.64% |
| Taiwan (EWT) | 0.86% | 2.28% | 8.81% | 79.93% | 84.45% |
| Thailand (THD) | 0.62% | -4.30% | -0.58% | 22.82% | 23.97% |
Fixed Income
Fixed income trading was largely subdued ahead of the Columbus Day bond-market closure, with Core bonds (AGG) off a marginal 0.04% and Short-Term Treasuries (BSV) similarly flat. Long-duration exposure continues to underperform over longer horizons, with Long-Term Treasuries (BLV) down 6.19% year-to-date against a slight 0.03% gain Friday. Convertible bonds (CWB) stood out with a 0.81% daily gain and a 14.44% year-to-date return, benefiting from their equity-linked structure amid Friday’s risk-on tone. High Yield (HYG) and municipal paper, including Intermediate Munis (MUB) at 0.34%, also posted modest gains, consistent with stable credit conditions.
| Name (Ticker) | 1-Day | 1 Month | 3 Month | YTD | 1 Year |
|---|---|---|---|---|---|
| Multisector | |||||
| Long-Term (BLV) | 0.03% | -3.73% | -5.71% | -6.19% | -6.64% |
| Core Enhanced (IUSB) | 0.00% | -1.83% | -2.52% | -2.10% | -1.20% |
| Short-Term (BSV) | -0.04% | -0.59% | -0.59% | -0.10% | 0.99% |
| Core (AGG) | -0.04% | -1.82% | -2.64% | -2.38% | -1.55% |
| Government | |||||
| Long-Term (SPTL) | 0.13% | -4.04% | -6.07% | -6.86% | -7.44% |
| Ultrashort (BIL) | 0.04% | 0.34% | 0.95% | 2.81% | 3.71% |
| Short-Term (SPTS) | 0.00% | -0.19% | 0.07% | 0.75% | 1.77% |
| Intermediate (SPTI) | -0.07% | -1.54% | -2.28% | -2.58% | -1.62% |
| Inflation Protected (TIP) | -0.10% | -2.23% | -2.71% | -1.75% | -1.91% |
| Specialty | |||||
| Convertible (CWB) | 0.81% | -2.30% | -4.03% | 14.44% | 10.75% |
| High Yield (HYG) | 0.12% | -1.78% | -1.72% | 0.13% | 1.85% |
| Mortgage Backed (MBB) | 0.07% | -2.24% | -3.20% | -2.59% | -1.23% |
| Preferred Stock (PFF) | 0.03% | -2.12% | -2.42% | -1.26% | -1.53% |
| Corporate (SPIB) | -0.03% | -1.19% | -1.71% | -1.12% | 0.04% |
| Bank Loans (BKLN) | -0.10% | -0.03% | 1.85% | 2.17% | 4.56% |
| International & EM | |||||
| Emerging Local (EMLC) | 0.24% | -2.38% | -0.80% | 0.84% | 4.19% |
| Emerging USD (EMB) | 0.23% | -2.71% | -3.69% | -1.48% | 1.02% |
| International USD (BNDX) | 0.11% | -0.29% | -1.43% | -0.69% | -0.49% |
| International Local (IGOV) | 0.03% | -3.66% | -2.48% | -4.61% | -3.97% |
| Municipals | |||||
| Long-Term (MLN) | 0.43% | -3.42% | -7.11% | -4.66% | -3.64% |
| High Yield (HYD) | 0.36% | -2.15% | -5.36% | -2.96% | -0.95% |
| Intermediate (MUB) | 0.34% | -2.05% | -4.70% | -3.32% | -2.05% |
| Short-Term (SUB) | 0.17% | -0.62% | -0.71% | 0.12% | 0.84% |
Explore the related Explorers: Taxable → · Municipal → · Specialty →
Commodities
Precious and industrial metals led commodity markets Friday, with Platinum (PPLT) up 2.90%, Silver (SLV) up 2.49%, and Copper (CPER) up 2.15%, while Gold (GLD) rose 1.57% amid reported prices near $4,221 per ounce. Energy markets were mixed, with WTI Crude (USO) and Brent Crude (BNO) both posting modest gains near 0.4-0.5% as oil stabilized following assurances regarding Iran, while Natural Gas (UNG) jumped 1.85%. Agricultural commodities diverged sharply, with Corn (CORN) falling 2.85% and Wheat (WEAT) down 1.41%, contrasting with gains in Sugar (CANE) and Soybeans (SOYB). Broad Energy exposure (DBE) remains the strongest commodity category year-to-date at 116.26%, underscoring the sustained strength in the energy complex over the past year.
| Name (Ticker) | 1-Day | 1 Month | 3 Month | YTD | 1 Year |
|---|---|---|---|---|---|
| Broad Commodities (DJP) | 0.19% | -0.63% | 15.58% | 39.09% | 46.04% |
| Agriculture | |||||
| Sugar (CANE) | 0.58% | 3.79% | 20.86% | 23.53% | 16.26% |
| Soybeans (SOYB) | 0.51% | -0.47% | 9.68% | 25.94% | 26.05% |
| Broad (DBA) | -0.04% | -2.31% | 2.24% | 11.01% | 10.78% |
| Wheat (WEAT) | -1.41% | -7.12% | 5.90% | 22.23% | 19.36% |
| Corn (CORN) | -2.85% | -7.11% | 6.78% | 3.89% | 5.56% |
| Energy | |||||
| Natural Gas (UNG) | 1.85% | 9.12% | 1.66% | -10.20% | -13.58% |
| Brent Crude (BNO) | 0.55% | 7.87% | 51.74% | 125.95% | 116.11% |
| WTI Crude (USO) | 0.42% | -1.18% | 35.95% | 114.29% | 104.39% |
| Broad (DBE) | -0.66% | 3.82% | 38.96% | 116.26% | 108.96% |
| Industrial Metals | |||||
| Copper (CPER) | 2.15% | -1.80% | 6.78% | 15.30% | 27.28% |
| Broad (DBB) | 1.62% | -4.30% | 2.65% | 9.68% | 21.32% |
| Precious Metals | |||||
| Platinum (PPLT) | 2.90% | -11.08% | 4.31% | -18.20% | 3.27% |
| Silver (SLV) | 2.49% | -9.78% | 1.18% | -14.96% | 22.52% |
| Broad (DBP) | 1.90% | -6.12% | 1.52% | -6.49% | 7.92% |
| Gold (GLD) | 1.57% | -4.65% | 1.69% | -2.96% | 5.24% |
| Palladium (PALL) | 1.37% | -15.47% | -8.50% | -28.57% | -19.76% |
Cryptocurrency
Digital assets posted modest gains across most major tokens Friday, with XRP (XRP) leading at 1.05% and Bitcoin (IBIT) adding 0.63%. Solana (SOLZ) was the lone decliner, slipping 0.74% despite a strong 37.95% three-month return. Year-to-date performance remains negative across the complex, with Bitcoin (IBIT) down 6.24% and Ethereum (ETHA) down 16.79%. Despite the recent weakness on a longer-term basis, three-month returns across the group remain robust, suggesting a notable rebound from earlier-year lows even as year-to-date figures stay in negative territory.
What to Watch Today
Monday, October 12 is the Columbus Day holiday, meaning bond markets are closed while U.S. equity markets remain open for regular trading; no major U.S. economic data releases are scheduled. Some calendars note potential Fed commentary from Cleveland Fed President Beth Hammack and Governor Christopher Waller, though these are unconfirmed on a bond-market holiday. No major S&P 500 earnings are expected Monday, with big bank earnings season set to begin Tuesday, October 13. Investors should also look ahead to Wednesday’s CPI report as the next significant data catalyst for the week.
U.S. equities extended their advance on Friday, with the S&P 500 (IVV) adding 0.60% as mega-cap technology names recovered from Thursday’s selloff. Developed ex-U.S. markets outpaced the domestic benchmark, with the EAFE index (EFA) rising 0.68%, while Emerging Markets (EEM) led all three regions with a 1.06% gain, pushing its year-to-date return to 22.71%. Fixed income was essentially flat, with the U.S. Aggregate Bond index (AGG) off a marginal 0.04%, reflecting a quiet session for rates ahead of the Columbus Day bond-market holiday. Broad Commodities (DJP) edged up 0.19% on the day but remain up a substantial 39.09% year-to-date, powered by energy and precious metals. The clearest outlier was the precious and industrial metals complex, with platinum, silver, and copper all posting gains above 2% as investors rotated into hard assets.