Macro Overview
U.S. equities retreated from recent highs as weaker-than-expected retail sales and consumer sentiment data raised concerns about economic momentum. The S&P 500 (IVV) edged down 0.18%, with similar modest declines for Developed ex-U.S. (EFA) and Emerging Markets (EEM). In contrast, the commodities complex was a clear outlier, as Broad Commodities (DJP) gained 0.91%, buoyed by rising energy prices. Fixed income markets also saw broad-based declines, with the U.S. Aggregate Bond (AGG) falling 0.21%.
U.S. Size & Style
A distinct divergence emerged across the U.S. market cap spectrum, with smaller companies outperforming their larger counterparts. Small Cap Growth (IJT) led the advance with a 0.63% gain, while Large Cap Growth (IVW) was the day’s laggard, falling 0.39%. This trend was consistent across styles, as value-oriented strategies generally held up better than growth. Notably, Large Value (IVE) finished slightly positive and now shows an RSI of 70, signaling potentially overbought conditions.
| Name (Ticker) | 1-Day | 1 Month | 3 Month | YTD | 1 Year |
|---|---|---|---|---|---|
| Large Value (IVE) | 0.03% | 3.54% | 6.16% | 13.13% | 19.81% |
| Large Cap (IVV) | -0.18% | 3.30% | 4.06% | 14.49% | 21.79% |
| Large Growth (IVW) | -0.39% | 2.97% | 2.30% | 15.39% | 23.10% |
| Mid Value (IJJ) | 0.26% | 3.33% | 8.84% | 16.05% | 21.31% |
| Mid Cap (IJH) | 0.32% | 4.10% | 7.39% | 19.77% | 24.78% |
| Mid Growth (IJK) | 0.36% | 4.81% | 5.99% | 23.14% | 27.88% |
| Small Value (IJS) | 0.31% | 3.90% | 10.89% | 24.42% | 34.33% |
| Small Cap (IJR) | 0.48% | 3.48% | 10.84% | 25.75% | 32.36% |
| Small Growth (IJT) | 0.63% | 3.02% | 10.73% | 26.83% | 30.15% |
Explore the U.S. Size & Style Explorer →
U.S. Sectors & Industries
Energy was the standout sector, with the Energy Select Sector SPDR Fund (XLE) climbing 1.39% as crude oil prices advanced. Defensive sectors also performed well, including Utilities (XLU), which gained 0.61%. On the other end of the spectrum, Health Care (XLV) and Technology (XLK) were the weakest performers, declining 0.60% and 0.40% respectively, weighing on the broader market indices.
| Name (Ticker) | 1-Day | 1 Month | 3 Month | YTD | 1 Year |
|---|---|---|---|---|---|
| S&P 500 (SPY) | -0.20% | 3.26% | 4.03% | 14.45% | 21.70% |
| Energy (XLE) | 1.39% | 8.71% | 7.37% | 40.36% | 49.19% |
| Utilities (XLU) | 0.61% | -3.02% | -0.69% | 5.18% | 6.06% |
| Materials (XLB) | 0.44% | 3.75% | 2.06% | 16.80% | 18.83% |
| Industrials (XLI) | 0.39% | 3.36% | 7.14% | 20.86% | 24.99% |
| Communication Services (XLC) | 0.36% | 1.35% | -3.30% | -3.49% | 2.85% |
| Real Estate (XLRE) | 0.33% | 1.78% | 3.99% | 13.92% | 14.02% |
| Consumer Staples (XLP) | 0.10% | 3.20% | 2.01% | 12.23% | 8.06% |
| Financials (XLF) | -0.17% | 3.52% | 13.79% | 7.10% | 11.41% |
| Consumer Discretionary (XLY) | -0.21% | 1.98% | -0.19% | -0.62% | 3.76% |
| Technology (XLK) | -0.40% | 3.48% | 5.98% | 32.30% | 42.68% |
| Health Care (XLV) | -0.60% | 5.74% | 14.64% | 9.04% | 27.11% |
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Global Thematic
Thematic ETFs displayed a sharp divide between areas of strength and weakness. Defense and modern warfare themes saw significant gains, with the Defiance Drone and Modern Warfare ETF (JEDI) surging 4.39%. In stark contrast, cybersecurity funds experienced a broad sell-off, occupying all five laggard spots for the day. The WisdomTree Cybersecurity Fund (WCBR) led the declines, dropping 3.26% in a clear rotation away from the sub-sector.
| Name (Ticker) | 1-Day |
|---|---|
| Leaders | |
| Defiance Drone and Modern Warfare ETF (JEDI) | 4.39% |
| Roundhill Neocloud ETF (NCLD) | 3.61% |
| Global X Video Games & Esports ETF (HERO) | 3.33% |
| VanEck Rare Earth and Strategic Metals ETF (REMX) | 3.18% |
| Roundhill Photonics & Optics ETF (LYTE) | 2.87% |
| Laggards | |
| WisdomTree Cybersecurity Fund (WCBR) | -3.26% |
| Global X Cybersecurity ETF (BUG) | -3.08% |
| Amplify Cybersecurity ETF (HACK) | -3.04% |
| WisdomTree Cloud Computing Fund (WCLD) | -2.63% |
| First Trust NASDAQ Cybersecurity ETF (CIBR) | -2.54% |
Explore the Thematic Explorer →
Developed ex-U.S. & Emerging Markets
International equity performance was mixed and generally subdued. Developed ex-U.S. markets (EFA) closed nearly unchanged, though country-level results varied, with Germany (EWG) rising 0.45% while Switzerland (EWL) fell 0.68%. In the emerging markets space, Indonesia (EIDO) posted a strong 0.96% gain and South Korea (EWY) added 0.63%. Conversely, several Latin American markets retreated, including Mexico (EWW), which declined by 0.58%.
| Name (Ticker) | 1-Day | 1 Month | 3 Month | YTD | 1 Year |
|---|---|---|---|---|---|
| Developed Markets ex-U.S. | |||||
| Developed ex-U.S. (EFA) | -0.05% | 4.50% | 6.66% | 14.91% | 22.59% |
| Australia (EWA) | -0.30% | 3.27% | 2.70% | 14.81% | 14.38% |
| Canada (EWC) | 0.21% | 5.15% | 7.48% | 15.93% | 33.28% |
| France (EWQ) | 0.21% | 5.40% | 7.92% | 8.02% | 12.29% |
| Germany (EWG) | 0.45% | 6.69% | 6.60% | 5.97% | 5.97% |
| Hong Kong (EWH) | -0.49% | 3.32% | -6.85% | 7.05% | 9.85% |
| Japan (EWJ) | -0.26% | 4.60% | 7.25% | 22.29% | 30.04% |
| Netherlands (EWN) | 0.39% | 6.15% | 10.10% | 26.78% | 40.85% |
| South Korea (EWY) | 0.63% | 1.56% | -5.66% | 84.88% | 149.57% |
| Switzerland (EWL) | -0.68% | 1.36% | 4.22% | 7.39% | 19.02% |
| U.K. (EWU) | 0.00% | 4.21% | 4.99% | 11.31% | 20.25% |
| Emerging Markets | |||||
| Emerging Markets (EEM) | -0.10% | 1.43% | -0.65% | 22.36% | 36.15% |
| Brazil (EWZ) | 0.47% | -5.83% | -7.75% | 7.82% | 27.23% |
| China (MCHI) | 0.39% | 2.63% | -5.35% | -8.46% | -6.13% |
| India (INDA) | -0.40% | 2.15% | 2.94% | -7.90% | -5.02% |
| Indonesia (EIDO) | 0.96% | 4.39% | -10.37% | -31.41% | -30.49% |
| Malaysia (EWM) | -0.57% | -0.32% | -5.41% | 4.45% | 15.98% |
| Mexico (EWW) | -0.58% | -0.44% | -3.66% | 9.78% | 27.21% |
| South Africa (EZA) | 0.30% | 6.43% | -2.16% | 0.23% | 26.21% |
| Taiwan (EWT) | -0.40% | 5.09% | 12.14% | 68.53% | 84.67% |
| Thailand (THD) | -0.34% | 0.12% | 1.81% | 24.89% | 30.64% |
Explore the Global (ex-U.S.) Size & Style Explorer →
Fixed Income
It was a broadly negative session for fixed income, with declines seen across most categories as yields held firm. Longer-duration assets were most affected, evidenced by the 0.67% drop in the Long-Term Treasury (SPTL). Core bond funds like the U.S. Aggregate Bond (AGG) were also down 0.21%. A notable exception was the convertible bond space, where the SPDR Bloomberg Convertible Securities ETF (CWB) managed a 0.19% gain against the broader trend.
| Name (Ticker) | 1-Day | 1 Month | 3 Month | YTD | 1 Year |
|---|---|---|---|---|---|
| Multisector | |||||
| Short-Term (BSV) | -0.08% | 0.37% | 0.61% | 0.83% | 2.75% |
| Core (AGG) | -0.21% | -0.19% | -0.17% | -0.10% | 2.36% |
| Core Enhanced (IUSB) | -0.24% | -0.09% | -0.02% | 0.15% | 2.67% |
| Long-Term (BLV) | -0.59% | -1.53% | -1.97% | -2.53% | -0.21% |
| Government | |||||
| Ultrashort (BIL) | 0.02% | 0.32% | 0.91% | 2.22% | 3.78% |
| Short-Term (SPTS) | 0.00% | 0.46% | 0.78% | 1.14% | 3.02% |
| Inflation Protected (TIP) | -0.16% | -0.22% | -0.83% | 0.67% | 1.86% |
| Intermediate (SPTI) | -0.18% | 0.16% | 0.10% | -0.29% | 1.83% |
| Long-Term (SPTL) | -0.67% | -1.74% | -1.90% | -2.95% | -0.53% |
| Specialty | |||||
| Convertible (CWB) | 0.19% | 2.57% | 0.46% | 20.60% | 27.02% |
| Bank Loans (BKLN) | 0.00% | 1.07% | 1.09% | 1.54% | 4.65% |
| High Yield (HYG) | -0.10% | 0.52% | 1.29% | 2.32% | 5.10% |
| Preferred Stock (PFF) | -0.16% | 1.55% | -1.06% | 2.58% | 3.45% |
| Corporate (SPIB) | -0.18% | 0.14% | 0.32% | 0.56% | 2.94% |
| Mortgage Backed (MBB) | -0.31% | -0.14% | -0.06% | 0.33% | 3.89% |
| International & EM | |||||
| Emerging Local (EMLC) | -0.04% | 1.14% | 2.31% | 2.98% | 8.05% |
| International Local (IGOV) | -0.21% | 0.99% | -0.76% | -1.10% | -1.17% |
| Emerging USD (EMB) | -0.33% | -0.11% | 0.76% | 1.76% | 6.48% |
| International USD (BNDX) | -0.40% | -0.25% | 0.20% | 0.37% | 1.17% |
| Municipals | |||||
| Short-Term (SUB) | -0.05% | 0.24% | 0.64% | 1.10% | 2.06% |
| Intermediate (MUB) | -0.28% | -0.75% | 0.05% | 0.69% | 5.04% |
| High Yield (HYD) | -0.38% | -1.03% | 0.31% | 1.27% | 7.12% |
| Long-Term (MLN) | -0.48% | -0.79% | 0.49% | 1.88% | 8.19% |
Explore the related Explorers: Taxable → · Municipal → · Specialty →
Commodities
Commodities posted strong gains, serving as a bright spot in the market. The advance was led by energy, with Brent Crude (BNO) rising 1.81%. Agricultural commodities also had a robust session, as Wheat (WEAT) jumped 2.67%. Precious metals were supported by moderating inflation expectations, with Gold (GLD) adding 0.63% and Platinum (PPLT) gaining a solid 2.12%.
| Name (Ticker) | 1-Day | 1 Month | 3 Month | YTD | 1 Year |
|---|---|---|---|---|---|
| Broad Commodities (DJP) | 0.91% | 4.34% | -4.31% | 29.25% | 45.36% |
| Agriculture | |||||
| Wheat (WEAT) | 2.67% | 4.43% | 0.60% | 25.04% | 18.90% |
| Corn (CORN) | 1.95% | 4.40% | -1.46% | 2.99% | 8.88% |
| Soybeans (SOYB) | 0.67% | 0.52% | 1.64% | 16.06% | 16.00% |
| Broad (DBA) | 0.54% | 0.51% | -1.70% | 8.82% | 8.14% |
| Sugar (CANE) | -0.74% | 9.35% | 6.53% | 10.30% | -3.28% |
| Energy | |||||
| Brent Crude (BNO) | 1.81% | 7.08% | -9.91% | 78.81% | 69.82% |
| WTI Crude (USO) | 1.26% | 5.35% | -11.47% | 83.05% | 71.68% |
| Broad (DBE) | 0.67% | 6.38% | -3.23% | 79.85% | 74.44% |
| Natural Gas (UNG) | -0.50% | -5.70% | -11.11% | -19.09% | -20.70% |
| Industrial Metals | |||||
| Broad (DBB) | 0.47% | 3.25% | -2.90% | 10.81% | 32.22% |
| Copper (CPER) | 0.40% | 3.81% | -0.03% | 14.45% | 42.94% |
| Precious Metals | |||||
| Platinum (PPLT) | 2.12% | 7.37% | -15.04% | -14.87% | 28.21% |
| Broad (DBP) | 0.64% | 8.07% | -10.18% | -1.90% | 35.21% |
| Gold (GLD) | 0.63% | 7.88% | -6.02% | 1.30% | 30.67% |
| Silver (SLV) | 0.55% | 9.99% | -22.55% | -9.22% | 69.51% |
| Palladium (PALL) | 0.38% | 0.97% | -8.75% | -17.70% | 14.29% |
Explore the Commodities Explorer →
Cryptocurrency
Digital assets experienced a quiet session characterized by modest declines across the complex. Bitcoin (IBIT) fell 0.70%, while Ethereum (ETHA) slipped 0.35%. The negative price action continues a challenging period for the asset class, with most major crypto ETFs remaining deep in negative territory on a year-to-date basis. Solana (SOLZ) was one of the day’s weaker performers, losing 1.52%.
| Name (Ticker) | 1-Day | 1 Month | 3 Month | YTD | 1 Year |
|---|---|---|---|---|---|
| Solana (SOLZ) | -1.52% | -2.92% | -19.63% | -40.42% | -63.74% |
| XRP (XRP) | -1.15% | -10.41% | -34.28% | -45.61% | — |
| Bitcoin (IBIT) | -0.70% | -2.60% | -22.83% | -28.24% | -46.84% |
| Multi-Coin (NCIQ) | -0.59% | -2.66% | -22.88% | -30.89% | -51.42% |
| Ethereum (ETHA) | -0.35% | 0.00% | -18.32% | -36.78% | -58.74% |
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What to Watch Today
Looking ahead to Monday, investors will be monitoring several key economic data points for further insight into the health of the U.S. economy. The schedule includes the New York Fed Empire State Manufacturing Survey for August at 8:30 AM ET and the National Association of Home Builders (NAHB) Confidence Index at 10:00 AM ET. The U.S. Treasury is also set to auction 13-week and 26-week bills. Later in the week, the earnings calendar will feature reports from major retailers including Walmart, Target, and Home Depot, which will provide a crucial read on consumer spending.
