Macro Overview
U.S. Size & Style
Growth and smaller-cap segments led the rebound, with Mid Growth (IJK) climbing 3.64% and Small Growth (IJT) adding 3.17%, outpacing Large Value (IVE) at 2.03%. Mid Cap (IJH) and Small Cap (IJR) both gained roughly 3%, reflecting broad participation beyond mega-cap names. On a trailing basis, Small Value (IJS) leads the size/style matrix with an 18.94% year-to-date gain, while Large Growth (IVW) lags at 8.25% after a steep 8.38% one-month decline. RSI readings across the group remain in neutral territory, with Large Cap (IVV) at 46 and Large Growth (IVW) at 42, suggesting room for further upside without overbought conditions.
| Name (Ticker) | 1-Day | 1 Month | 3 Month | YTD | 1 Year |
|---|---|---|---|---|---|
| Large Value (IVE) | 2.03% | 3.13% | 2.33% | 14.64% | 17.49% |
| Large Cap (IVV) | 2.35% | -3.31% | -2.38% | 11.29% | 13.44% |
| Large Growth (IVW) | 2.65% | -8.38% | -6.27% | 8.25% | 9.90% |
| Mid Value (IJJ) | 2.73% | 4.93% | -1.68% | 13.15% | 16.73% |
| Mid Cap (IJH) | 3.16% | 1.31% | -4.08% | 13.60% | 16.05% |
| Mid Growth (IJK) | 3.64% | -2.05% | -6.35% | 13.71% | 15.03% |
| Small Value (IJS) | 2.75% | 3.70% | -3.39% | 18.94% | 23.11% |
| Small Cap (IJR) | 2.96% | 3.03% | -4.50% | 18.90% | 21.71% |
| Small Growth (IJT) | 3.17% | 2.35% | -5.75% | 18.51% | 19.99% |
U.S. Sectors & Industries
Industrials (XLI) led all sectors with a 3.82% advance, followed closely by Technology (XLK) at 3.73% as semiconductors rallied broadly, even as Nvidia diverged lower. Consumer Discretionary (XLY) and Communication Services (XLC) also posted gains above 2%, rounding out a broad-based risk-on session. Energy (XLE) was the laggard at just 0.52%, consistent with the day’s sharp crude-oil decline, and its RSI of 36 approaches oversold territory with zero constituents trading above their 50-day moving average. Technology’s RSI of 38 stands out despite the day’s rally, reflecting the sector’s 14.04% one-month decline and only 34% of constituents above their 50-day average, pointing to lingering technical weakness beneath the headline bounce.
| Name (Ticker) | 1-Day | 1 Month | 3 Month | YTD | 1 Year |
|---|---|---|---|---|---|
| S&P 500 (SPY) | 2.37% | -3.32% | -2.42% | 11.24% | 13.39% |
| Industrials (XLI) | 3.82% | -0.21% | -8.55% | 9.74% | 11.40% |
| Technology (XLK) | 3.73% | -14.04% | -8.99% | 19.11% | 19.20% |
| Consumer Discretionary (XLY) | 2.92% | 7.23% | 1.18% | 1.97% | 3.45% |
| Communication Services (XLC) | 2.45% | -2.74% | -3.19% | -7.98% | -3.06% |
| Health Care (XLV) | 1.91% | 10.26% | 14.10% | 23.16% | 31.01% |
| Materials (XLB) | 1.91% | 7.10% | 0.61% | 18.23% | 25.59% |
| Utilities (XLU) | 1.53% | 5.75% | 1.15% | 4.71% | 0.42% |
| Financials (XLF) | 1.45% | 5.96% | 1.03% | 7.17% | 11.59% |
| Real Estate (XLRE) | 1.45% | 7.28% | 0.07% | 13.27% | 11.95% |
| Consumer Staples (XLP) | 0.90% | 8.94% | 7.48% | 19.27% | 21.75% |
| Energy (XLE) | 0.52% | -4.82% | 8.38% | 41.28% | 42.28% |
Global Thematic
Thematic ETFs tied to defense and optics technology topped the leaderboard, with the Defiance Drone and Modern Warfare ETF (JEDI) gaining 12.60% and the Tuttle Capital Pure Play Photonics ETF (FOTO) up 11.77%, alongside the Roundhill Photonics & Optics ETF (LYTE) at 11.30%. The Spear Alpha ETF (SPRX) and Tema Space Innovators ETF (NASA) each added over 9%, extending the session’s momentum in technology-adjacent niches. On the downside, cannabis-focused funds underperformed broadly, with the AdvisorShares Pure US Cannabis ETF (MSOS) falling 4.01% and the Amplify Seymour Cannabis ETF (CNBS) down 3.33%. The Invesco Solar ETF (TAN) also lagged, slipping 0.88% against an otherwise positive broader tape.
| Name (Ticker) | 1-Day |
|---|---|
| Leaders | |
| Defiance Drone and Modern Warfare ETF (JEDI) | 12.60% |
| Tuttle Capital Pure Play Photonics ETF (FOTO) | 11.77% |
| Roundhill Photonics & Optics ETF (LYTE) | 11.30% |
| Spear Alpha ETF (SPRX) | 10.13% |
| Tema Space Innovators ETF (NASA) | 9.43% |
| Laggards | |
| AdvisorShares Pure US Cannabis ETF (MSOS) | -4.01% |
| Amplify Seymour Cannabis ETF (CNBS) | -3.33% |
| Amplify Alternative Harvest ETF (MJ) | -1.15% |
| Invesco Solar ETF (TAN) | -0.88% |
| First Trust SkyBridge Crypto Industry & Digital Economy ETF (CRPT) | -0.50% |
Developed ex-U.S. & Emerging Markets
Developed markets saw broad strength, led by South Korea (EWY) up 3.72% and Japan (EWJ) up 3.65%, both benefiting from the global tech rally, with South Korea now up 46.16% year-to-date. Germany (EWG) and the Netherlands (EWN) also posted gains above 3%, while Hong Kong (EWH) lagged with a modest 0.26% advance. Emerging markets were led decisively by Taiwan (EWT), which jumped 7.18% and extended its year-to-date gain to 50.56% on continued semiconductor strength. China (MCHI) was the lone decliner among the group, falling 0.71% and remaining down 13.67% year-to-date, while Indonesia (EIDO) continues to struggle with a 43.88% year-to-date loss despite a 2.38% gain on the day.
| Name (Ticker) | 1-Day | 1 Month | 3 Month | YTD | 1 Year |
|---|---|---|---|---|---|
| Developed Markets ex-U.S. | |||||
| Developed ex-U.S. (EFA) | 3.01% | 1.51% | -3.31% | 11.02% | 15.11% |
| Australia (EWA) | 1.71% | 3.67% | -2.43% | 14.89% | 15.76% |
| Canada (EWC) | 1.74% | 3.30% | -0.52% | 13.60% | 23.38% |
| France (EWQ) | 2.80% | 6.19% | -7.95% | 0.33% | 3.62% |
| Germany (EWG) | 3.39% | 4.96% | -2.34% | 3.16% | 8.31% |
| Hong Kong (EWH) | 0.26% | 5.98% | 2.95% | 11.78% | 10.07% |
| Japan (EWJ) | 3.65% | -6.52% | -5.59% | 13.91% | 14.60% |
| Netherlands (EWN) | 3.71% | -1.37% | -5.03% | 16.37% | 19.34% |
| South Korea (EWY) | 3.72% | -19.83% | -14.44% | 46.16% | 58.32% |
| Switzerland (EWL) | 1.72% | 10.01% | 1.91% | 11.56% | 20.01% |
| U.K. (EWU) | 2.33% | 3.87% | -0.66% | 11.45% | 16.56% |
| Emerging Markets | |||||
| Emerging Markets (EEM) | 2.87% | -8.64% | -7.02% | 12.11% | 14.06% |
| Brazil (EWZ) | 1.97% | -25.10% | -7.72% | 3.62% | 5.58% |
| China (MCHI) | -0.71% | -1.96% | -8.93% | -13.67% | -17.47% |
| India (INDA) | 1.02% | 11.69% | 2.07% | -4.88% | -4.35% |
| Indonesia (EIDO) | 2.38% | -13.29% | -20.14% | -43.88% | -42.81% |
| Malaysia (EWM) | 0.93% | 2.18% | -3.34% | 1.61% | 7.67% |
| Mexico (EWW) | 1.07% | 7.80% | 0.05% | 13.51% | 18.29% |
| South Africa (EZA) | 3.18% | 8.45% | -0.66% | 2.70% | 16.03% |
| Taiwan (EWT) | 7.18% | -16.32% | -7.22% | 50.56% | 54.86% |
| Thailand (THD) | 2.20% | -5.38% | -7.97% | 16.22% | 16.62% |
Fixed Income
Fixed income was largely muted as equities absorbed the day’s risk appetite, with Treasury yields edging higher per the session’s commentary. Core Bond (AGG) was flat at 0.03%, while Long-Term Treasuries (BLV) ticked up 0.14% but remain down 1.91% year-to-date. Credit-sensitive segments outperformed, with Preferred Stock (PFF) gaining 1.20% and Convertibles (CWB) adding 1.75%, reflecting their higher correlation to the equity rebound. High Yield (HYG) rose a modest 0.36%, while Municipal High Yield (HYD) was the lone decliner in the space, down 0.50%.
| Name (Ticker) | 1-Day | 1 Month | 3 Month | YTD | 1 Year |
|---|---|---|---|---|---|
| Multisector | |||||
| Long-Term (BLV) | 0.14% | 4.56% | -0.06% | -1.91% | -2.70% |
| Core Enhanced (IUSB) | 0.07% | 2.27% | -0.15% | 0.13% | 0.41% |
| Core (AGG) | 0.03% | 2.47% | 0.01% | 0.03% | 0.37% |
| Short-Term (BSV) | -0.04% | 1.11% | 0.27% | 1.01% | 1.66% |
| Government | |||||
| Ultrashort (BIL) | 0.02% | 0.30% | 0.93% | 3.12% | 3.68% |
| Long-Term (SPTL) | 0.00% | 5.17% | 0.22% | -2.04% | -3.31% |
| Short-Term (SPTS) | -0.03% | 0.79% | 0.57% | 1.54% | 2.19% |
| Intermediate (SPTI) | -0.04% | 2.15% | -0.20% | -0.49% | -0.17% |
| Inflation Protected (TIP) | -0.23% | 1.70% | -0.83% | -0.08% | -0.37% |
| Specialty | |||||
| Convertible (CWB) | 1.75% | -7.67% | -10.07% | 5.67% | 2.98% |
| Preferred Stock (PFF) | 1.20% | -2.05% | -5.11% | -3.28% | -2.68% |
| High Yield (HYG) | 0.36% | 0.89% | -1.15% | 1.01% | 2.35% |
| Bank Loans (BKLN) | 0.20% | 0.77% | 1.74% | 2.96% | 4.41% |
| Corporate (SPIB) | 0.03% | 1.52% | -0.26% | 0.39% | 1.19% |
| Mortgage Backed (MBB) | 0.01% | 2.94% | -0.13% | 0.27% | 0.80% |
| International & EM | |||||
| International Local (IGOV) | 1.04% | 2.39% | -1.83% | -2.33% | -2.05% |
| Emerging USD (EMB) | 0.63% | 1.95% | -1.50% | 0.44% | 1.50% |
| Emerging Local (EMLC) | 0.61% | 0.29% | -2.09% | 1.14% | 3.60% |
| International USD (BNDX) | 0.11% | 1.66% | 0.10% | 0.96% | 0.49% |
| Municipals | |||||
| Intermediate (MUB) | 0.07% | 4.14% | -0.08% | 0.68% | 1.12% |
| Long-Term (MLN) | 0.03% | 5.56% | -1.47% | 0.64% | 0.76% |
| Short-Term (SUB) | 0.01% | 1.50% | 0.54% | 1.63% | 2.34% |
| High Yield (HYD) | -0.50% | 3.52% | -0.85% | 0.46% | 1.75% |
Explore the related Explorers: Taxable → · Municipal → · Specialty →
Commodities
Commodities were mixed as crude oil sold off sharply, with WTI Crude (USO) falling 3.87% and Brent Crude (BNO) down 5.29%, contributing to the Broad Commodities index’s (DJP) 0.81% decline despite the fund’s 28.81% year-to-date gain. Natural Gas (UNG) moved sharply in the opposite direction, surging 7.81% on the day though it remains down 17.78% year-to-date. Precious metals advanced broadly, with Platinum (PPLT) up 2.74%, Silver (SLV) up 2.71%, and Gold (GLD) adding 1.88%. Industrial metals also firmed, with Copper (CPER) up 2.02%, rounding out a day where energy weakness contrasted with strength across metals.
| Name (Ticker) | 1-Day | 1 Month | 3 Month | YTD | 1 Year |
|---|---|---|---|---|---|
| Broad Commodities (DJP) | -0.81% | -7.39% | 3.03% | 28.81% | 32.44% |
| Agriculture | |||||
| Broad (DBA) | -0.04% | -7.87% | -5.50% | 2.27% | 3.19% |
| Corn (CORN) | -0.17% | -6.84% | -2.72% | -3.21% | -3.41% |
| Sugar (CANE) | -0.27% | -8.80% | 3.19% | 12.66% | 20.24% |
| Wheat (WEAT) | -0.37% | -11.31% | -9.45% | 8.41% | 3.34% |
| Soybeans (SOYB) | -0.39% | -8.39% | 0.70% | 15.37% | 8.94% |
| Energy | |||||
| Natural Gas (UNG) | 7.81% | -8.45% | 3.49% | -17.78% | -27.74% |
| Broad (DBE) | -3.71% | -6.70% | 19.74% | 101.78% | 90.34% |
| WTI Crude (USO) | -3.87% | -3.74% | 20.92% | 106.28% | 100.20% |
| Brent Crude (BNO) | -5.29% | -7.91% | 25.57% | 108.09% | 102.37% |
| Industrial Metals | |||||
| Copper (CPER) | 2.02% | -4.66% | -3.68% | 9.93% | 25.30% |
| Broad (DBB) | 0.90% | -1.43% | -2.25% | 8.11% | 17.93% |
| Precious Metals | |||||
| Platinum (PPLT) | 2.74% | -6.62% | -10.16% | -23.62% | 1.24% |
| Silver (SLV) | 2.71% | -12.12% | -16.28% | -25.27% | 9.61% |
| Broad (DBP) | 2.15% | -3.58% | -7.30% | -9.83% | 3.23% |
| Gold (GLD) | 1.88% | -1.31% | -4.75% | -4.23% | 3.05% |
| Palladium (PALL) | 1.35% | -9.44% | -24.91% | -35.31% | -25.65% |
Cryptocurrency
Cryptocurrency markets diverged from the broader risk-on tone, with digital asset funds broadly declining even as equities rallied. XRP (XRP) led losses, falling 6.74% and extending its year-to-date decline to 40.64%, while Ethereum (ETHA) dropped 4.51%. Solana (SOLZ) and the Multi-Coin fund (NCIQ) also declined, down 3.57% and 2.06% respectively. Bitcoin (IBIT) held up relatively better, slipping just 1.31%, though it remains down 14.76% year-to-date, underscoring continued pressure across the digital asset complex independent of equity market direction.
What to Watch Today
Investors will turn Tuesday to the October Consumer Price Index release at 8:30 AM ET, with consensus looking for a 0.3% month-over-month headline increase versus September’s 0.6% reading. The morning also brings several Federal Reserve speakers, including Bowman, Goolsbee, and Barkin, alongside a speech from Governor Waller, which could offer further color on the policy outlook following the inflation data. Treasury markets will see 3-month and 6-month bill auctions along with a 3-year note auction, while supplementary inflation gauges such as the Sticky Price CPI and Median CPI are due at 10:00 AM ET. Additional data points include Wholesale Inventories and Trade Sales figures and the NY Fed’s 1-Year Consumer Inflation Expectations survey, rounding out a data-heavy session ahead of the broader chip-sector earnings expected later in the week.
U.S. equities staged a sharp rebound, with the S&P 500 (IVV) gaining 2.35% to recover a portion of last week’s losses, though the fund remains down 3.31% over the past month. Developed ex-U.S. markets outperformed, as the MSCI EAFE proxy (EFA) advanced 3.01%, while Emerging Markets (EEM) rose 2.87% despite a steep 8.64% one-month drawdown. Fixed income was essentially flat, with the U.S. Aggregate Bond fund (AGG) up just 0.03% as Treasury yields edged higher alongside the risk-on tone in equities. Broad Commodities (DJP) slipped 0.81%, weighed down by a nearly $4 drop in crude oil that helped fuel the equity rally. The standout outlier was Taiwan (EWT), which surged 7.18% on the day and now sits up 50.56% year-to-date, reflecting continued strength in the semiconductor supply chain.