Macro Overview
U.S. equities rallied on the final day of the month, with the S&P 500 (IVV) gaining 0.63% to trim what was its first losing month after two consecutive gains. International markets also advanced, with Developed ex-U.S. (EFA) adding 0.42% and Emerging Markets (EEM) standing out with a strong 1.45% increase. In contrast, fixed income markets weakened as Treasury yields rose, sending the U.S. Aggregate Bond index (AGG) down 0.39%, while broad commodities (DJP) posted a 0.95% gain.
U.S. Size & Style
Growth stocks decisively outperformed their value counterparts across the market cap spectrum, fueled by a rebound in technology. Large Cap Growth (IVW) climbed 1.42% while Large Cap Value (IVE) finished nearly flat. Small caps also participated in the rally, with the Russell 2000 (IJR) gaining 0.64% to cap a strong month where it advanced 7.28%. The recent strength has pushed both Small Cap (IJR) and Small Cap Growth (IJT) into overbought territory, with RSI readings of 71 and 76, respectively.
| Name (Ticker) | 1-Day | 1 Month | 3 Month | YTD | 1 Year |
|---|---|---|---|---|---|
| Large Value (IVE) | -0.04% | 0.01% | 7.96% | 7.88% | 18.13% |
| Large Cap (IVV) | 0.63% | -1.21% | 14.95% | 9.92% | 22.05% |
| Large Growth (IVW) | 1.42% | -1.93% | 21.70% | 11.77% | 25.41% |
| Mid Value (IJJ) | 0.30% | 4.24% | 11.89% | 13.03% | 21.64% |
| Mid Cap (IJH) | 0.76% | 3.62% | 14.47% | 17.39% | 25.96% |
| Mid Growth (IJK) | 1.34% | 3.13% | 16.91% | 21.55% | 29.93% |
| Small Value (IJS) | 0.25% | 5.00% | 15.85% | 20.88% | 39.47% |
| Small Cap (IJR) | 0.64% | 7.28% | 19.67% | 23.97% | 37.48% |
| Small Growth (IJT) | 1.06% | 9.51% | 23.61% | 26.91% | 35.35% |
Explore the U.S. Size & Style Explorer →
U.S. Sectors & Industries
Sector performance was highly divergent, with a clear rotation into cyclical growth and away from defensive areas. The Technology sector (XLK) led all groups with a 2.76% surge, driven by a significant rally in semiconductor stocks. On the other end of the spectrum, defensive sectors lagged, with Real Estate (XLRE), Consumer Staples (XLP), and Utilities (XLU) all declining by roughly 1.5% or more. The Energy sector (XLE) also finished lower by 0.88% as crude oil prices retreated.
| Name (Ticker) | 1-Day | 1 Month | 3 Month | YTD | 1 Year |
|---|---|---|---|---|---|
| S&P 500 (SPY) | 0.78% | -1.03% | 15.12% | 10.09% | 22.20% |
| Technology (XLK) | 2.76% | -0.14% | 43.53% | 32.65% | 51.25% |
| Industrials (XLI) | 1.35% | 7.25% | 14.81% | 20.04% | 27.17% |
| Materials (XLB) | 0.34% | -0.25% | 2.10% | 13.00% | 17.87% |
| Consumer Discretionary (XLY) | 0.14% | -2.77% | 7.83% | -1.39% | 8.76% |
| Financials (XLF) | -0.20% | 4.30% | 8.97% | -1.28% | 3.95% |
| Communication Services (XLC) | -0.70% | -7.15% | -3.11% | -8.47% | -0.05% |
| Energy (XLE) | -0.88% | -4.98% | -12.69% | 20.41% | 29.12% |
| Health Care (XLV) | -1.29% | 6.61% | 8.69% | 3.36% | 19.76% |
| Utilities (XLU) | -1.48% | 2.72% | -0.57% | 7.62% | 14.12% |
| Consumer Staples (XLP) | -1.54% | 0.89% | 2.04% | 8.29% | 5.45% |
| Real Estate (XLRE) | -1.98% | 0.96% | 8.77% | 10.80% | 9.94% |
Explore the U.S. Sectors & Industries Explorer →
Global Thematic
Thematic ETFs reflected the day’s risk-on sentiment, with advanced technology and industrial themes dominating the leaderboard. The Humanoid Robotics ETF (BOTT) and the REX Drone ETF (DRNZ) both gained around 6%, followed closely by funds focused on semiconductors and hydrogen. In sharp contrast, the day’s laggards were exclusively concentrated in the digital asset space. The First Trust SkyBridge Crypto Industry & Digital Economy ETF (CRPT) fell 4.46% amid a broad sell-off in crypto-related equities.
| Name (Ticker) | 1-Day |
|---|---|
| Leaders | |
| Themes Humanoid Robotics ETF (BOTT) | 6.25% |
| REX Drone ETF (DRNZ) | 5.93% |
| Global X Hydrogen ETF (HYDR) | 5.61% |
| Corgi Lithography & Semiconductor Photonics ETF (EUV) | 5.54% |
| Defiance Drone and Modern Warfare ETF (JEDI) | 5.10% |
| Laggards | |
| First Trust SkyBridge Crypto Industry & Digital Economy ETF (CRPT) | -4.46% |
| Global X Blockchain ETF (BKCH) | -3.52% |
| VanEck Digital Transformation ETF (DAPP) | -2.52% |
| Bitwise Crypto Industry Innovators ETF (BITQ) | -2.43% |
| Fidelity Crypto Industry and Digital Payments ETF (FDIG) | -2.27% |
Explore the Thematic Explorer →
Developed ex-U.S. & Emerging Markets
International equities posted gains, with notable strength in several key Asian and European markets. Within developed markets, South Korea (EWY) and the Netherlands (EWN) were standout performers, rising 2.23% and 1.82% respectively. The broader Emerging Markets index (EEM) was propelled higher by significant advances in Taiwan (EWT), which jumped 2.67%, and Thailand (THD), which added 2.12%. Bucking the positive trend, Indonesia (EIDO) experienced a sharp decline of 2.92%.
| Name (Ticker) | 1-Day | 1 Month | 3 Month | YTD | 1 Year |
|---|---|---|---|---|---|
| Developed Markets ex-U.S. | |||||
| Developed ex-U.S. (EFA) | 0.42% | 0.68% | 8.63% | 9.88% | 20.19% |
| Australia (EWA) | 0.18% | -2.36% | 2.88% | 9.04% | 10.37% |
| Canada (EWC) | 0.26% | -1.53% | 5.69% | 7.38% | 26.47% |
| France (EWQ) | 0.58% | 1.17% | 7.21% | 3.38% | 9.22% |
| Germany (EWG) | 1.08% | -2.85% | 6.36% | -0.72% | -0.28% |
| Hong Kong (EWH) | -0.71% | -8.03% | -7.95% | 0.02% | 10.49% |
| Japan (EWJ) | 0.06% | 0.87% | 11.05% | 16.13% | 29.81% |
| Netherlands (EWN) | 1.82% | 5.94% | 23.49% | 24.53% | 35.30% |
| South Korea (EWY) | 2.23% | -1.91% | 64.13% | 107.67% | 187.68% |
| Switzerland (EWL) | -0.63% | 1.32% | 8.76% | 6.67% | 16.70% |
| U.K. (EWU) | -0.02% | -0.27% | 2.73% | 6.42% | 20.12% |
| Emerging Markets | |||||
| Emerging Markets (EEM) | 1.45% | 0.22% | 21.07% | 25.67% | 44.58% |
| Brazil (EWZ) | -0.14% | -3.01% | -9.27% | 9.63% | 25.06% |
| China (MCHI) | 0.46% | -6.79% | -8.58% | -14.50% | -5.64% |
| India (INDA) | 0.43% | 1.71% | 5.44% | -8.62% | -11.30% |
| Indonesia (EIDO) | -2.92% | -9.49% | -27.09% | -38.43% | -34.07% |
| Malaysia (EWM) | -0.30% | -3.73% | -3.18% | 0.53% | 14.80% |
| Mexico (EWW) | -1.12% | -2.62% | 1.52% | 10.16% | 28.56% |
| South Africa (EZA) | -0.36% | -7.03% | -4.83% | -6.21% | 26.65% |
| Taiwan (EWT) | 2.67% | 5.67% | 53.14% | 70.96% | 97.93% |
| Thailand (THD) | 2.12% | 0.74% | 6.66% | 24.02% | 48.62% |
Explore the Global (ex-U.S.) Size & Style Explorer →
Fixed Income
Fixed income assets broadly declined as the 10-year Treasury yield climbed, reflecting a shift in investor sentiment toward riskier assets. The core U.S. Aggregate Bond index (AGG) fell 0.39%, with longer-duration instruments seeing more pronounced losses, such as the Long-Term Treasury ETF (SPTL) which dropped 1.09%. One of the few areas to post a gain was Bank Loans (BKLN), which edged higher by 0.34%, benefiting from their floating-rate structure in a rising yield environment.
| Name (Ticker) | 1-Day | 1 Month | 3 Month | YTD | 1 Year |
|---|---|---|---|---|---|
| Multisector | |||||
| Short-Term (BSV) | -0.14% | 0.05% | 0.38% | 0.51% | 2.98% |
| Core Enhanced (IUSB) | -0.37% | 0.26% | 0.95% | 0.89% | 4.09% |
| Core (AGG) | -0.39% | 0.25% | 0.72% | 0.74% | 3.79% |
| Long-Term (BLV) | -0.96% | 0.67% | 1.45% | 1.13% | 3.91% |
| Government | |||||
| Ultrashort (BIL) | 0.00% | 0.27% | 0.88% | 1.74% | 3.83% |
| Short-Term (SPTS) | -0.07% | 0.12% | 0.36% | 0.65% | 2.96% |
| Intermediate (SPTI) | -0.28% | 0.15% | 0.02% | 0.01% | 2.50% |
| Inflation Protected (TIP) | -0.43% | -0.46% | 0.81% | 1.23% | 3.22% |
| Long-Term (SPTL) | -1.09% | 1.09% | 0.80% | 0.81% | 2.83% |
| Specialty | |||||
| Convertible (CWB) | 0.63% | -0.12% | 18.25% | 21.63% | 32.54% |
| Bank Loans (BKLN) | 0.34% | 0.01% | 1.31% | 0.02% | 3.87% |
| High Yield (HYG) | -0.05% | 0.09% | 2.05% | 1.69% | 5.15% |
| Corporate (SPIB) | -0.27% | 0.11% | 0.88% | 0.80% | 4.14% |
| Preferred Stock (PFF) | -0.39% | -2.96% | 1.93% | 0.48% | 4.98% |
| Mortgage Backed (MBB) | -0.47% | 0.07% | 0.61% | 1.02% | 5.04% |
| International & EM | |||||
| Emerging Local (EMLC) | -0.12% | 0.31% | 3.48% | 1.56% | 7.23% |
| International USD (BNDX) | -0.19% | 0.44% | 1.50% | 1.38% | 2.23% |
| International Local (IGOV) | -0.30% | -2.26% | -0.07% | -1.51% | -3.45% |
| Emerging USD (EMB) | -0.39% | 0.43% | 4.05% | 2.37% | 9.56% |
| Municipals | |||||
| Short-Term (SUB) | -0.02% | 0.18% | 0.61% | 0.84% | 2.68% |
| Intermediate (MUB) | -0.08% | 0.68% | 2.20% | 1.82% | 6.35% |
| Long-Term (MLN) | -0.17% | 1.32% | 2.89% | 2.99% | 9.29% |
| High Yield (HYD) | -0.27% | 0.55% | 3.84% | 2.56% | 7.11% |
Explore the related Explorers: Taxable → · Municipal → · Specialty →
Commodities
The commodities complex saw mixed results, with energy prices easing while some industrial and agricultural commodities gained. WTI Crude oil (USO) fell 0.60% following reports of easing geopolitical tensions between the United States and Iran. In contrast, Natural Gas (UNG) rallied 2.54%, and Silver (SLV) posted a solid 1.50% gain. Gold (GLD) ended the session nearly unchanged.
| Name (Ticker) | 1-Day | 1 Month | 3 Month | YTD | 1 Year |
|---|---|---|---|---|---|
| Broad Commodities (DJP) | 0.95% | -9.67% | -9.20% | 16.22% | 28.63% |
| Agriculture | |||||
| Corn (CORN) | 1.70% | -6.58% | -8.97% | -5.53% | -5.35% |
| Wheat (WEAT) | 1.01% | -5.77% | -6.53% | 10.32% | -0.77% |
| Soybeans (SOYB) | 0.74% | -2.98% | 0.00% | 11.62% | 12.03% |
| Broad (DBA) | 0.60% | -2.13% | -2.38% | 4.51% | 5.65% |
| Sugar (CANE) | 0.00% | 2.41% | -6.23% | 0.36% | -10.63% |
| Energy | |||||
| Natural Gas (UNG) | 2.54% | -1.76% | -0.09% | -4.40% | -23.30% |
| Broad (DBE) | 0.10% | -12.80% | -11.03% | 50.13% | 46.15% |
| Brent Crude (BNO) | -0.39% | -19.57% | -21.76% | 43.68% | 39.40% |
| WTI Crude (USO) | -0.60% | -17.55% | -16.35% | 53.90% | 45.59% |
| Industrial Metals | |||||
| Copper (CPER) | 1.34% | -2.91% | 9.58% | 7.92% | 19.25% |
| Broad (DBB) | 0.50% | -7.20% | 2.55% | 5.06% | 27.79% |
| Precious Metals | |||||
| Silver (SLV) | 1.50% | -21.75% | -21.53% | -17.00% | 62.97% |
| Broad (DBP) | 0.23% | -14.05% | -15.96% | -10.05% | 26.00% |
| Gold (GLD) | -0.05% | -11.68% | -14.39% | -7.05% | 20.85% |
| Palladium (PALL) | -0.27% | -10.57% | -18.05% | -24.06% | 9.73% |
| Platinum (PPLT) | -1.40% | -19.03% | -20.72% | -24.21% | 15.00% |
Explore the Commodities Explorer →
Cryptocurrency
Cryptocurrency-related assets experienced a significant downturn, moving in the opposite direction of the technology sector’s rally. The weakness was widespread, with major digital assets leading the decline. Bitcoin (IBIT) fell 2.60%, while Ethereum (ETHA) and Solana (SOLZ) both dropped nearly 2.9%. This broad sell-off underscored the divergence between traditional tech stocks and the digital asset space during the session.
| Name (Ticker) | 1-Day | 1 Month | 3 Month | YTD | 1 Year |
|---|---|---|---|---|---|
| Solana (SOLZ) | -2.89% | -10.13% | -11.23% | -41.41% | -57.22% |
| Ethereum (ETHA) | -2.86% | -21.78% | -24.89% | -46.99% | -37.65% |
| XRP (XRP) | -2.83% | -21.00% | -22.42% | -43.18% | — |
| Multi-Coin (NCIQ) | -2.65% | -19.95% | -15.21% | -35.73% | -46.74% |
| Bitcoin (IBIT) | -2.60% | -20.03% | -13.35% | -32.95% | -45.61% |
Explore the Digital Assets Explorer →
What to Watch Today
Looking ahead to Wednesday, market participants will be closely watching a slate of key economic data for fresh insights into the labor market and manufacturing activity. The morning will feature the release of the ADP Employment Report for June, followed by the ISM Manufacturing Index and May’s Construction Spending figures. Additionally, investors will monitor remarks from Federal Reserve Chairman Kevin Warsh, who is scheduled to participate in a policy panel at the ECB Forum on Central Banking.
