Macro Overview
The broader market exhibited mixed performance in the latest session, with the S&P 500 (IVV) posting a 0.56% gain while fixed income and commodity segments faced mild headwinds. Developed ex-U.S. equities matched domestic optimism, as the Developed Markets ex-U.S. (EFA) climbed 0.67%. Emerging Markets (EEM) stood out as the clear outlier, surging 2.11% on the day to extend its impressive 49.76% one-year return. Meanwhile, Broad Based Commodities (DJP) shed 0.66% amidst slight pressure across energy markets, and aggregate fixed income markets remained largely flat.
U.S. Size & Style
Growth factors led the domestic size and style matrix, as Large Growth (IVW) advanced 1.07% to push into technically overbought territory with an RSI of 77.58. Conversely, small-cap segments struggled, with Small Value (IJS) recording the steepest daily decline at -0.44%. The S&P 500 (IVV) also registered an overbought RSI of 76.68 following its 0.56% daily gain, reflecting extended near-term momentum. Value and smaller capitalization factors generally lagged, highlighting a concentrated preference for large-cap growth exposures in the current environment.
| Name (Ticker) | 1-Day | 1 Month | 3 Month | YTD | 1 Year |
|---|---|---|---|---|---|
| Large Growth (IVW) | 1.07% | 12.34% | 15.42% | 11.45% | 34.53% |
| Large Cap (IVV) | 0.56% | 8.15% | 9.19% | 9.17% | 27.97% |
| Large Value (IVE) | -0.06% | 3.47% | 2.35% | 6.32% | 20.47% |
| Mid Growth (IJK) | -0.04% | 4.88% | 7.45% | 15.71% | 25.82% |
| Mid Cap (IJH) | -0.27% | 2.70% | 2.89% | 11.06% | 21.11% |
| Mid Value (IJJ) | -0.47% | 0.38% | -1.74% | 6.18% | 16.00% |
| Small Growth (IJT) | -0.30% | 3.42% | 5.41% | 13.87% | 23.83% |
| Small Cap (IJR) | -0.38% | 2.63% | 3.47% | 12.74% | 26.95% |
| Small Value (IJS) | -0.44% | 1.74% | 1.51% | 11.48% | 30.15% |
U.S. Sectors & Industries
Technology (XLK) paced the sectoral advance, climbing 0.94% and driving its RSI to a highly overbought 79.09 alongside a staggering 52.91% one-year return. Communication Services (XLC) and Health Care (XLV) followed with solid gains of 0.78% and 0.59%, respectively. On the downside, Utilities (XLU) and Financials (XLF) experienced the most significant daily drawdowns, falling 1.15% and 1.14%. Defensives and rate-sensitive sectors broadly underperformed as capital rotated heavily into the technology and growth-oriented silos.
| Name (Ticker) | 1-Day | 1 Month | 3 Month | YTD | 1 Year |
|---|---|---|---|---|---|
| Technology (XLK) | 0.94% | 21.45% | 26.87% | 22.99% | 52.91% |
| Communication Services (XLC) | 0.78% | 1.69% | 2.23% | -0.50% | 18.00% |
| Health Care (XLV) | 0.59% | -0.85% | -6.57% | -4.84% | 13.23% |
| Consumer Discretionary (XLY) | 0.36% | 4.21% | 2.39% | -0.38% | 11.15% |
| Consumer Staples (XLP) | 0.33% | 3.89% | -4.82% | 9.67% | 8.91% |
| Energy (XLE) | 0.10% | 0.91% | 6.72% | 29.73% | 38.71% |
| Materials (XLB) | -0.15% | -0.25% | -1.92% | 15.30% | 23.29% |
| Industrials (XLI) | -0.42% | 0.52% | -0.04% | 12.24% | 24.53% |
| Real Estate (XLRE) | -0.83% | 2.77% | 2.31% | 10.30% | 11.30% |
| Financial (XLF) | -1.14% | -1.30% | -0.77% | -6.43% | 1.35% |
| Utilities (XLU) | -1.15% | -3.71% | -3.27% | 5.36% | 15.33% |
Global Thematic
Artificial intelligence and next-generation technology themes dominated the leaderboards, with the Roundhill Memory ETF (DRAM) soaring 6.32% in a single session. The Roundhill Generative AI & Technology ETF (CHAT) and the Roundhill Humanoid Robotics ETF (HUMN) similarly posted outsized gains of 5.15% and 4.92%, underscoring fervent demand for disruptive innovation. In stark contrast, thematic exposures tethered to raw materials and hard assets suffered, led by the Sprott Junior Uranium Miners ETF (URNJ) which plummeted 3.91%. Battery metals also faced severe headwinds, illustrated by the 3.05% drop in the Sprott Lithium Miners ETF (LITP).
| Name (Ticker) | 1-Day |
|---|---|
| Leaders | |
| Roundhill Memory ETF (DRAM) | 6.32% |
| Roundhill Generative AI & Technology ETF (CHAT) | 5.15% |
| Roundhill Humanoid Robotics ETF (HUMN) | 4.92% |
| Spear Alpha ETF (SPRX) | 4.45% |
| VistaShares Artificial Intelligence Supercycle ETF (AIS) | 4.42% |
| Laggards | |
| Amplify Digital Payments ETF (IPAY) | -2.74% |
| REX Drone ETF (DRNZ) | -2.97% |
| Sprott Nickel Miners ETF (NIKL) | -2.98% |
| Sprott Lithium Miners ETF (LITP) | -3.05% |
| Sprott Junior Uranium Miners ETF (URNJ) | -3.91% |
Developed ex-U.S. & Emerging Markets
Asian equities dictated the narrative across international markets, propelled by a massive 5.68% daily surge in South Korea (EWY), elevating its year-to-date return to 94.02%. Thailand (THD) and China (MCHI) contributed to the strong emerging market performance, adding 2.78% and 2.71%, respectively. Alternatively, Latin American exposures faced intense selling pressure, highlighted by Brazil (EWZ) retreating 3.82% and pushing its RSI into an oversold reading of 33.42. Indonesia (EIDO) also struggled, sliding 1.65% to a deeply oversold RSI of 29.04, reflecting stark regional divergences within the emerging market complex.
| Name (Ticker) | 1-Day | 1 Month | 3 Month | YTD | 1 Year |
|---|---|---|---|---|---|
| South Korea (EWY) | 5.68% | 33.56% | 40.80% | 94.02% | 231.94% |
| Thailand (THD) | 2.78% | -0.17% | 2.66% | 20.95% | 32.47% |
| China (MCHI) | 2.71% | 4.25% | -0.93% | -0.47% | 11.73% |
| Emerging Markets (EEM) | 2.11% | 10.05% | 9.96% | 22.85% | 49.76% |
| Netherlands (EWN) | 2.05% | 3.70% | 5.99% | 14.57% | 32.11% |
| Hong Kong (EWH) | 1.53% | 3.50% | 6.05% | 15.53% | 38.58% |
| Taiwan (EWT) | 1.16% | 21.21% | 29.86% | 49.32% | 86.24% |
| Japan (EWJ) | 1.12% | 5.37% | -0.81% | 15.30% | 34.80% |
| India (INDA) | 0.97% | -2.78% | -9.28% | -11.23% | -11.16% |
| Developed ex-U.S. (EFA) | 0.67% | 0.99% | -0.39% | 8.12% | 24.30% |
| U.K. (EWU) | 0.64% | -2.01% | -0.74% | 6.64% | 26.99% |
| Germany (EWG) | 0.52% | 0.52% | -4.12% | -0.80% | 5.58% |
| Switzerland (EWL) | 0.46% | 0.82% | -3.18% | 3.00% | 18.32% |
| Mexico (EWW) | 0.35% | 1.22% | -0.94% | 15.78% | 41.02% |
| Malaysia (EWM) | 0.17% | 5.30% | 1.65% | 10.42% | 26.02% |
| South Africa (EZA) | 0.08% | -2.28% | -6.04% | 2.86% | 49.85% |
| France (EWQ) | 0.07% | -2.02% | -3.34% | 0.33% | 10.20% |
| Australia (EWA) | -0.68% | -3.42% | -0.14% | 11.19% | 18.30% |
| Canada (EWC) | -0.91% | 0.84% | 2.80% | 7.06% | 35.13% |
| Indonesia (EIDO) | -1.65% | -11.56% | -19.53% | -23.53% | -15.47% |
| Brazil (EWZ) | -3.82% | -11.42% | -3.36% | 15.77% | 36.94% |
Fixed Income
Aggregate bond markets displayed muted daily volatility as the Taxable Core (AGG) and Taxable Core Enhanced (IUSB) segments edged higher by just 0.04%. Duration exposure proved slightly detrimental in the government and municipal spaces, with Government Long (SPTL) and Municipal Long (MLN) dropping 0.23% and 0.17%, respectively. Credit risk was generally rewarded in specialized sectors, particularly in the Convertible (CWB) space, which rallied an exceptional 1.17%. Emerging USD (EMB) and Municipal High Yield (HYD) were among the few credit areas to see notable weakness, trailing broader fixed income performance on the day.
| Name (Ticker) | 1-Day | 1 Month | 3 Month | YTD | 1 Year |
|---|---|---|---|---|---|
| Multisector | |||||
| Taxable Short-Term (BSV) | 0.04% | -0.13% | -0.42% | 0.28% | 4.14% |
| Taxable Core Enhanced (IUSB) | 0.04% | -0.43% | -1.18% | 0.21% | 5.67% |
| Taxable Core (AGG) | 0.04% | -0.52% | -1.33% | 0.09% | 5.45% |
| Taxable Long Term (BLV) | -0.10% | -1.24% | -3.21% | -0.66% | 5.85% |
| Government | |||||
| Government Short (SPTS) | 0.07% | 0.01% | -0.15% | 0.43% | 3.76% |
| Taxable Ultrashort (BIL) | 0.00% | 0.30% | 0.83% | 1.28% | 3.91% |
| Government Intermediate (SPTI) | 0.00% | -0.63% | -1.39% | -0.32% | 4.30% |
| Inflation Protected (TIP) | 0.00% | 0.36% | 0.26% | 1.61% | 5.35% |
| Government Long (SPTL) | -0.23% | -1.75% | -4.04% | -1.27% | 3.85% |
| Specialty | |||||
| Convertible (CWB) | 1.17% | 8.47% | 12.63% | 19.45% | 34.02% |
| Mortgage Backed (MBS) | 0.14% | -0.54% | -1.25% | 0.48% | 6.92% |
| Corporate (SPIB) | 0.06% | -0.30% | -0.23% | -0.71% | 5.84% |
| Taxable High Yield (HYG) | 0.05% | 0.08% | 0.32% | 1.09% | 6.59% |
| Bank Loans (BKLN) | 0.05% | 1.20% | 1.63% | 0.40% | 5.42% |
| Preferred Stock (PFF) | 0.03% | 2.36% | 0.67% | 3.62% | 9.79% |
| International & EM | |||||
| International USD (BNDX) | 0.19% | -0.06% | -1.20% | 0.03% | 2.29% |
| International (IGOV) | 0.07% | 0.12% | -2.79% | 0.19% | 3.65% |
| Emerging (EMLC) | -0.04% | -1.01% | -2.15% | 0.81% | 11.22% |
| Emerging USD (EMB) | -0.19% | -0.08% | -0.62% | 0.99% | 11.38% |
| Municipals | |||||
| Municipal Short (SUB) | 0.00% | -0.11% | -0.42% | 0.43% | 3.23% |
| Municipal Intermediate (MUB) | -0.07% | -0.07% | -0.70% | 0.63% | 5.43% |
| Municipal Long (MLN) | -0.17% | -0.03% | 0.35% | 1.39% | 6.70% |
| Municipal High Yield (HYD) | -0.20% | 0.12% | 0.46% | 1.07% | 6.17% |
Commodities
Agricultural assets provided the primary bright spots in an otherwise weak commodity session, driven by a 2.09% advance in Sugar (CANE) and modest gains in the broad Agriculture (DBA) complex. Energy markets experienced a sharp reversal, with Broad Energy (DBE) tumbling 2.35% alongside significant declines in WTI Crude Oil (USO) and Brent Crude Oil (BNO). Precious metals displayed mixed dynamics, as Platinum (PPLT) and Silver (SLV) rallied over 1%, while Gold (GLD) declined 0.56%. Industrial Metals (DBB) eked out a 0.11% gain despite a 0.42% drag from Copper (CPER).
| Name (Ticker) | 1-Day | 1 Month | 3 Month | YTD | 1 Year |
|---|---|---|---|---|---|
| Broad Based Commodities (DJP) | -0.66% | 8.55% | 26.01% | 36.40% | 49.82% |
| Agriculture | |||||
| Sugar (CANE) | 2.09% | 11.02% | 13.84% | 5.38% | -13.54% |
| Agriculture (DBA) | 0.56% | 6.68% | 11.40% | 12.58% | 8.69% |
| Corn (CORN) | 0.26% | 6.81% | 7.54% | 7.05% | 4.40% |
| Soybeans (SOYB) | 0.20% | 4.36% | 8.19% | 16.01% | 13.90% |
| Wheat (WEAT) | -0.47% | 14.38% | 20.92% | 27.04% | 15.06% |
| Energy | |||||
| Nat Gas (UNG) | 0.64% | 3.88% | 2.81% | -11.74% | -10.44% |
| WTI Crude Oil (USO) | -1.57% | 10.56% | 86.36% | 105.38% | 104.11% |
| Brent Crude Oil (BNO) | -1.83% | 13.82% | 75.13% | 97.21% | 98.05% |
| Energy (DBE) | -2.35% | 11.54% | 69.91% | 85.91% | 84.45% |
| Industrial Metals | |||||
| Industrial Metals (DBB) | 0.11% | 5.93% | 11.37% | 14.47% | 44.12% |
| Copper (CPER) | -0.42% | 9.46% | 13.25% | 15.19% | 36.93% |
| Precious Metals | |||||
| Platinum (PPLT) | 1.22% | 3.96% | 4.55% | 4.86% | 115.77% |
| Silver (SLV) | 1.02% | 16.21% | 13.81% | 23.18% | 165.12% |
| Palladium (PALL) | 0.54% | -4.60% | -10.88% | -5.92% | 56.99% |
| Precious Metals (DBP) | -0.01% | 2.39% | -2.12% | 11.40% | 60.64% |
| Gold (GLD) | -0.56% | -1.12% | -6.94% | 8.63% | 43.76% |
Cryptocurrency
Digital assets experienced uniform downside pressure during the latest trading session, with Solana (SOLZ) leading the descent via a sharp 4.13% decline. Multi-Coin (NCIQ) and XRP (XRP) followed closely behind, dropping 1.55% and 1.49% as near-term momentum stalled across the ecosystem. Heavyweights Bitcoin (IBIT) and Ethereum (ETHA) also failed to find their footing, shedding 1.48% and 1.28%, respectively. The synchronous contraction highlights a pervasive risk-off sentiment currently permeating the cryptocurrency landscape following a period of extended volatility.
| Name (Ticker) | 1-Day | 1 Month | 3 Month | YTD | 1 Year |
|---|---|---|---|---|---|
| Solana (SOLZ) | -4.13% | 7.90% | 6.68% | -27.49% | -54.71% |
| Multi-Coin (NCIQ) | -1.55% | 7.07% | 13.63% | -12.62% | -26.33% |
| XRP (XRP) | -1.49% | 4.68% | 0.25% | -22.61% | – |
| Bitcoin (IBIT) | -1.48% | 8.49% | 15.78% | -9.12% | -24.32% |
| Ethereum (ETHA) | -1.28% | -0.35% | 10.23% | -24.12% | -16.61% |
What to Watch Today
Market participants will direct their attention toward key domestic retail sales figures scheduled for release tomorrow morning to gauge the resilience of the U.S. consumer. Additionally, pending industrial production data will provide essential insights into manufacturing output and capacity utilization heading into the summer months. Internationally, investors are closely monitoring preliminary GDP estimates out of the Eurozone to assess the trajectory of regional economic stabilization. Shifting expectations surrounding central bank interest rate trajectories remain the dominant macroeconomic undercurrent influencing cross-asset pricing.
