Macro Overview
The U.S. Large Cap (IVV) index advanced 0.14% on the day, extending its year-to-date return to 11.70%. Developed ex-U.S. markets (EFA) outpaced domestic equities, adding 0.56% as European indicators suggested stabilization in regional manufacturing. Emerging Markets (EEM) served as the primary macro outlier, surging 1.03% following positive economic data from the Asia-Pacific region, bringing its one-year gain to a robust 58.14%. In alternative assets, Broad Commodities (DJP) continued an upward trajectory with a 0.39% gain, while fixed income saw flat to slightly positive action as yields stabilized.
U.S. Size & Style
Mid-cap segments displayed broad strength, with Mid Value (IJJ) leading all size and style boxes by posting a 1.14% return for the session. Small Value (IJS) followed closely, rising 1.07% to push its one-year return to 41.12%, reflecting a rotation into cyclical and value-oriented segments. Conversely, Large Growth (IVW) lagged the broader market, declining 0.15% as mega-cap technology momentum paused, though it remains the top performer over a one-year horizon at 36.00%.
| Name (Ticker) | 1-Day % Change | 1 Month | 3 Month | YTD | 1 Year |
|---|---|---|---|---|---|
| Large Value (IVE) | 0.51% | 1.95% | 3.09% | 7.84% | 22.32% |
| Large Cap (IVV) | 0.14% | 5.39% | 10.97% | 11.70% | 29.70% |
| Large Growth (IVW) | -0.15% | 8.27% | 18.14% | 14.80% | 36.00% |
| Mid Value (IJJ) | 1.14% | 1.10% | 2.33% | 9.34% | 22.73% |
| Mid Cap (IJH) | 0.91% | 3.31% | 4.57% | 14.23% | 27.17% |
| Mid Growth (IJK) | 0.75% | 5.40% | 6.56% | 18.83% | 31.19% |
| Small Value (IJS) | 1.07% | 2.26% | 7.39% | 16.54% | 41.12% |
| Small Cap (IJR) | 0.89% | 1.64% | 7.14% | 16.42% | 34.85% |
| Small Growth (IJT) | 0.68% | 0.94% | 6.82% | 16.04% | 28.51% |
U.S. Sectors & Industries
Utilities (XLU) secured the top spot among sectors with a 1.86% advance, demonstrating defensive positioning amid mixed economic signals. Technology (XLK) added 1.25%, maintaining its year-to-date dominance at 37.84%, while Materials (XLB) rose 1.18% alongside broader commodity strength. Conversely, Communication Services (XLC) experienced the sharpest pullback, declining 1.76%, reflecting profit-taking in recent leaders within the digital media space. Health Care (XLV) also weighed on the market, dropping 0.97% and extending its year-to-date decline.
| Name (Ticker) | 1-Day % Change | 1 Month | 3 Month | YTD | 1 Year |
|---|---|---|---|---|---|
| Utilities (XLU) | 1.86% | -5.69% | -6.68% | 3.55% | 9.85% |
| Technology (XLK) | 1.25% | 22.45% | 42.22% | 37.84% | 71.13% |
| Materials (XLB) | 1.18% | 0.33% | -2.83% | 14.10% | 20.94% |
| Energy (XLE) | 1.15% | -1.51% | 2.27% | 30.47% | 44.85% |
| Industrials (XLI) | 1.04% | 0.71% | -2.36% | 12.61% | 23.75% |
| Real Estate (XLRE) | 0.51% | -1.87% | -0.32% | 8.50% | 7.66% |
| Financial (XLF) | 0.06% | -0.89% | 0.82% | -5.56% | 2.49% |
| Consumer Staples (XLP) | -0.24% | -2.78% | -7.24% | 5.93% | 1.46% |
| Consumer Discretionary (XLY) | -0.51% | -0.88% | 2.08% | -1.33% | 10.60% |
| Health Care (XLV) | -0.97% | 0.85% | -7.27% | -5.04% | 12.27% |
| Communication Services (XLC) | -1.76% | -2.70% | -3.34% | -3.22% | 12.83% |
Global Thematic
Corgi Lithography & Semiconductor Photonics ETF (EUV) delivered an exceptional 8.09% return, leading thematic equities as specialized tech infrastructure saw renewed bidding. Uranium-focused funds commanded the leaderboard, with Sprott Uranium Miners ETF (URNM) adding 6.87%, driven by increasing nuclear energy adoption narratives globally. On the downside, First Trust SkyBridge Crypto Industry & Digital Economy ETF (CRPT) shed 6.43%, mirroring the broader weakness observed in digital asset spot markets throughout the session.
| Name (Ticker) | 1-Day % Change |
|---|---|
| Top 5 Leaders | |
| Corgi Lithography & Semiconductor Photonics ETF (EUV) | 8.09% |
| Sprott Uranium Miners ETF (URNM) | 6.87% |
| Spear Alpha ETF (SPRX) | 6.27% |
| Sprott Junior Uranium Miners ETF (URNJ) | 5.95% |
| Global X Uranium ETF (URA) | 5.70% |
| Bottom 5 Laggards | |
| First Trust SkyBridge Crypto Industry & Digital Economy ETF (CRPT) | -6.43% |
| ALPS Medical Breakthroughs ETF (SBIO) | -4.73% |
| ARK Blockchain & Fintech Innovation ETF (ARKF) | -3.51% |
| WisdomTree Cloud Computing Fund (WCLD) | -3.28% |
| Global X Cloud Computing ETF (CLOU) | -2.81% |
Developed ex-U.S. & Emerging Markets
China (MCHI) drove significant action within emerging markets, jumping 3.23% as policymakers signaled further accommodative measures to support domestic demand. Mexico (EWW) added 1.55%, benefiting from strong nearshoring data and a stable peso, contributing to its robust one-year performance. Conversely, South Korea (EWY) retreated 1.00%, paring recent gains despite maintaining an exceptional year-to-date trajectory, as investors rotated out of highly appreciated tech exporters.
| Name (Ticker) | 1-Day % Change | 1 Month | 3 Month | YTD | 1 Year |
|---|---|---|---|---|---|
| Developed ex-U.S. | |||||
| Canada (EWC) | 1.28% | 1.82% | 2.24% | 10.25% | 33.06% |
| Australia (EWA) | 1.17% | 0.68% | -1.54% | 12.52% | 16.38% |
| Netherlands (EWN) | 1.14% | 8.51% | 11.25% | 19.64% | 34.73% |
| Hong Kong (EWH) | 0.70% | -2.57% | -3.22% | 9.04% | 27.38% |
| Japan (EWJ) | 0.70% | 5.98% | 3.75% | 15.90% | 30.47% |
| France (EWQ) | 0.57% | 1.56% | -1.05% | 2.42% | 9.78% |
| U.K. (EWU) | 0.51% | -0.19% | -2.47% | 6.71% | 21.17% |
| Germany (EWG) | 0.21% | 2.93% | 1.54% | 2.52% | 4.60% |
| Switzerland (EWL) | -0.37% | 0.78% | -2.88% | 3.00% | 13.32% |
| South Korea (EWY) | -1.00% | 32.43% | 45.40% | 120.66% | 255.38% |
| Emerging Markets | |||||
| China (MCHI) | 3.23% | -0.92% | -2.26% | -4.79% | 9.76% |
| Mexico (EWW) | 1.55% | 3.16% | -0.48% | 14.06% | 35.35% |
| South Africa (EZA) | 1.38% | 0.51% | -14.21% | -0.36% | 37.36% |
| Thailand (THD) | 1.28% | 5.27% | 4.41% | 25.10% | 43.31% |
| Taiwan (EWT) | 0.65% | 19.05% | 42.68% | 68.60% | 112.05% |
| Brazil (EWZ) | 0.31% | -9.26% | -7.40% | 12.62% | 38.39% |
| Malaysia (EWM) | 0.31% | -2.71% | 0.07% | 4.93% | 23.33% |
| India (INDA) | 0.08% | -2.22% | -5.73% | -11.14% | -11.94% |
| Indonesia (EIDO) | -0.23% | -14.30% | -26.83% | -31.44% | -28.38% |
Fixed Income
Duration sensitive assets led the fixed income space, with Long-Term Municipal (MLN) advancing 0.43% as yield curves showed minor flattening. Within specialty credit, Convertible bonds (CWB) outperformed significantly, gaining 1.20% and reflecting a correlation with strength in mid-cap equities. Emerging USD debt (EMB) posted a 0.26% return, outpacing domestic corporate credit as international spreads compressed slightly over the session.
| Name (Ticker) | 1-Day % Change | 1 Month | 3 Month | YTD | 1 Year |
|---|---|---|---|---|---|
| Multisector | |||||
| Taxable Long-Term (BLV) | 0.13% | 0.78% | -1.93% | 0.59% | 6.95% |
| Taxable Core (AGG) | 0.03% | 0.14% | -0.96% | 0.47% | 5.29% |
| Taxable Short-Term (BSV) | -0.01% | -0.02% | -0.36% | 0.37% | 3.70% |
| Taxable Core Enhanced (IUSB) | -0.02% | 0.18% | -0.77% | 0.60% | 5.68% |
| Government | |||||
| Government Long (SPTL) | 0.23% | 0.43% | -3.03% | 0.01% | 5.50% |
| Government Intermediate (SPTI) | 0.04% | -0.23% | -1.43% | -0.23% | 3.68% |
| Government Short (SPTS) | 0.00% | 0.05% | -0.05% | 0.52% | 3.52% |
| Taxable Ultrashort (BIL) | -0.01% | 0.28% | 0.88% | 1.46% | 3.87% |
| Inflation Protected (TIP) | -0.01% | -0.09% | 0.21% | 1.73% | 5.06% |
| Specialty | |||||
| Convertible (CWB) | 1.20% | 8.86% | 17.33% | 24.92% | 41.08% |
| Preferred Stock (PFF) | 0.13% | 0.54% | 1.30% | 3.61% | 10.55% |
| Taxable High Yield (HYG) | 0.08% | 0.31% | 1.05% | 1.60% | 7.01% |
| Mortgage Backed (MBS) | 0.01% | 0.17% | -0.75% | 0.81% | 6.96% |
| Bank Loans (BKLN) | 0.00% | 0.15% | 3.08% | 0.21% | 4.94% |
| Corporate (SPIB) | -0.06% | 0.19% | -0.43% | 0.55% | 5.39% |
| International & EM | |||||
| Emerging USD (EMB) | 0.26% | 1.15% | 0.58% | 2.18% | 12.34% |
| International USD (BNDX) | 0.19% | 0.72% | -0.80% | 0.89% | 2.18% |
| Emerging (EMLC) | 0.12% | 1.02% | -0.79% | 1.48% | 9.92% |
| International (IGOV) | 0.07% | -0.05% | -1.62% | 0.34% | 0.70% |
| Municipals | |||||
| Municipal Long (MLN) | 0.43% | 0.61% | 0.52% | 2.18% | 9.47% |
| Municipal Intermediate (MUB) | 0.15% | 0.53% | -0.29% | 1.32% | 7.06% |
| Municipal High Yield (HYD) | 0.12% | 0.97% | 1.22% | 2.16% | 8.09% |
| Municipal Short (SUB) | 0.07% | 0.29% | 0.01% | 0.78% | 3.21% |
Commodities
Energy commodities dominated the space, with Gasoline (UGA) jumping 1.74% and WTI Crude Oil (USO) climbing 1.31% amid renewed supply constraint forecasts. Industrial Metals (DBB) advanced 0.83%, driven by Copper (CPER) which rallied 1.60% as manufacturing sentiment improved. Agriculture (DBA) lagged, dropping 0.44%, pressured by a 1.06% decline in Corn (CORN) following updated crop progress reports indicating favorable weather conditions.
| Name (Ticker) | 1-Day % Change | 1 Month | 3 Month | YTD | 1 Year |
|---|---|---|---|---|---|
| Broad Commodities (DJP) | 0.39% | -2.07% | 12.53% | 30.60% | 44.64% |
| Agriculture | |||||
| Sugar (CANE) | 0.20% | -2.69% | 5.39% | 0.26% | -12.91% |
| Agriculture (DBA) | -0.44% | -3.52% | 4.35% | 6.27% | 5.49% |
| Wheat (WEAT) | -0.69% | -3.58% | 5.28% | 15.92% | 1.31% |
| Soybeans (SOYB) | -0.84% | -0.08% | 5.23% | 14.04% | 15.85% |
| Corn (CORN) | -1.06% | -6.25% | -0.67% | -0.11% | -1.72% |
| Energy | |||||
| Gasoline (UGA) | 1.74% | -8.95% | 43.33% | 75.83% | 82.09% |
| WTI Crude Oil (USO) | 1.31% | -3.87% | 57.44% | 98.48% | 97.37% |
| Energy (DBE) | 0.80% | -3.65% | 41.47% | 79.50% | 82.20% |
| Brent Crude Oil (BNO) | 0.76% | -7.65% | 41.64% | 86.76% | 89.50% |
| Natural Gas (UNG) | -0.61% | 7.10% | -4.42% | -6.44% | -32.01% |
| Industrial Metals | |||||
| Copper (CPER) | 1.60% | 12.06% | 11.57% | 16.13% | 33.68% |
| Industrial Metals (DBB) | 0.83% | 7.55% | 10.68% | 16.09% | 46.42% |
| Precious Metals | |||||
| Palladium (PALL) | 0.52% | -9.80% | -22.50% | -14.19% | 37.57% |
| Silver (SLV) | 0.47% | -0.44% | -16.65% | 5.54% | 115.23% |
| Platinum (PPLT) | 0.46% | -2.62% | -16.44% | -5.97% | 79.78% |
| Precious Metals (DBP) | 0.18% | -2.25% | -16.06% | 3.60% | 43.45% |
| Gold (GLD) | 0.17% | -2.65% | -15.93% | 3.95% | 32.18% |
Cryptocurrency
Digital assets faced substantial selling pressure across the board, led by Solana (SOLZ), which plunged 7.18% and pushed its year-to-date decline to 40.09%. Bitcoin (IBIT) dropped 6.03%, reflecting a broader risk-off sentiment in speculative markets despite recent institutional adoption narratives. Ethereum (ETHA) showed relative, albeit negative, resilience by declining 4.83%, remaining the least impacted among major tokens during the session.
| Name (Ticker) | 1-Day % Change | 1 Month | 3 Month | YTD | 1 Year |
|---|---|---|---|---|---|
| Solana (SOLZ) | -7.18% | -10.27% | -14.62% | -40.09% | -55.23% |
| XRP (XRP) | -6.06% | -12.33% | -12.67% | -33.48% | |
| Bitcoin (IBIT) | -6.03% | -14.44% | -2.92% | -23.36% | -35.90% |
| Multi-Coin (NCIQ) | -5.72% | -14.26% | -4.44% | -26.10% | -36.98% |
| Ethereum (ETHA) | -4.83% | -17.45% | -6.44% | -35.89% | -25.03% |
What to Watch Today
Markets will closely monitor the release of the ADP Nonfarm Employment Change for early signals on labor market resilience ahead of Friday’s official payroll report. Additionally, the ISM Non-Manufacturing PMI will provide crucial insight into the health of the services sector, a primary driver of the U.S. economy. Finally, central bank watchers will parse commentary from several scheduled Federal Reserve speakers for hints regarding the trajectory of interest rates in the coming months.
