Macro Overview
The U.S. Large Cap (IVV) posted a modest 0.17% gain, contrasting with slight declines across Developed ex-U.S. (EFA) and Emerging Markets (EEM), which fell 0.38% and 0.16% respectively. Broad Commodities (DJP) emerged as the clear daily outlier, advancing 0.74% to extend its 30.10% year-to-date trajectory amid persistent global supply concerns. Conversely, U.S. Fixed Income (AGG) retreated 0.15% on the session, reflecting a slight steepening in yields as markets recalibrate rate expectations heading into the new week.
U.S. Size & Style
Daily performance across U.S. equity categorizations demonstrated a slight preference for Large Growth (IVW) and Small Value (IJS), which advanced 0.55% and 0.35% respectively. Both Large Cap (IVV) and Small Cap (IJR) benchmarks are currently screening as technically overbought, with 14-day RSI readings standing at 71.56 and 72.53. Despite the mixed daily action, longer-term trends remain constructive, underscored by the Small Value (IJS) 43.37% return over the trailing 1-year period.
| Name (Ticker) | 1-Day % Change | 1 Month | 3 Month | YTD | 1 Year |
|---|---|---|---|---|---|
| Large Value (IVE) | -0.26% | 6.02% | 1.91% | 4.15% | 23.07% |
| Large Cap (IVV) | 0.17% | 12.80% | 3.11% | 5.18% | 31.49% |
| Large Growth (IVW) | 0.55% | 19.06% | 4.07% | 5.95% | 39.23% |
| Mid Value (IJJ) | 0.30% | 9.41% | 3.34% | 8.07% | 26.52% |
| Mid Cap (IJH) | 0.07% | 10.18% | 4.88% | 10.62% | 30.48% |
| Mid Growth (IJK) | -0.26% | 10.93% | 6.29% | 12.93% | 34.10% |
| Small Value (IJS) | 0.35% | 10.74% | 6.64% | 13.69% | 43.37% |
| Small Cap (IJR) | 0.19% | 12.16% | 7.14% | 13.81% | 38.65% |
| Small Growth (IJT) | -0.10% | 13.56% | 7.41% | 13.73% | 33.96% |
U.S. Sectors & Industries
The Financial (XLF) sector led Monday’s session with a 0.76% advance, demonstrating relative strength amid a mixed broader market tape. Technology (XLK) added 0.22% on the day but continues to flash overbought technical signals with an RSI of 77.19 following its 54.92% 1-year advance. Defensive positioning was broadly rejected by market participants, leaving Consumer Staples (XLP) and Real Estate (XLRE) as the primary laggards with daily declines of 1.07% and 0.78%.
| Name (Ticker) | 1-Day % Change | 1 Month | 3 Month | YTD | 1 Year |
|---|---|---|---|---|---|
| Financial (XLF) | 0.76% | 8.37% | -1.75% | -4.92% | 9.55% |
| Communication Services (XLC) | 0.23% | 8.19% | -0.62% | -1.31% | 24.25% |
| Technology (XLK) | 0.22% | 23.59% | 8.59% | 11.67% | 54.92% |
| Industrials (XLI) | 0.02% | 8.36% | 4.80% | 11.52% | 35.50% |
| Utilities (XLU) | 0.02% | 1.32% | 7.09% | 8.95% | 21.45% |
| Energy (XLE) | -0.18% | -9.26% | 15.03% | 27.79% | 42.24% |
| Materials (XLB) | -0.27% | 5.87% | 4.06% | 14.68% | 27.78% |
| Health Care (XLV) | -0.50% | 0.14% | -7.33% | -6.94% | 5.77% |
| Consumer Discretionary (XLY) | -0.72% | 11.51% | -3.76% | -1.12% | 20.20% |
| Real Estate (XLRE) | -0.78% | 8.70% | 6.13% | 8.50% | 11.00% |
| Consumer Staples (XLP) | -1.07% | 0.68% | -0.43% | 6.59% | 4.67% |
Global Thematic
Cannabis equities led the thematic leaderboards, with the AdvisorShares Pure US Cannabis ETF (MSOS) advancing 10.04% on the session. Digital asset and blockchain themes faced notable selling pressure, evidenced by the Global X Blockchain ETF (BKCH) dropping 2.23% alongside broader crypto market weakness. Precious metal miners also encountered headwinds, pushing the iShares MSCI Global Gold Miners ETF (RING) down 2.13% as investors temporarily rotated away from traditional safe-haven equities.
| Name (Ticker) | 1-Day % Change |
|---|---|
| Leaders | |
| AdvisorShares Pure US Cannabis ETF (MSOS) | 10.04% |
| Amplify Seymour Cannabis ETF (CNBS) | 9.91% |
| Sprott Lithium Miners ETF (LITP) | 5.75% |
| Amplify Alternative Harvest ETF (MJ) | 5.49% |
| Roundhill Memory ETF (DRAM) | 3.68% |
| Laggards | |
| Global X Blockchain ETF (BKCH) | -2.23% |
| iShares MSCI Global Gold Miners ETF (RING) | -2.13% |
| iShares Blockchain and Tech ETF (IBLC) | -2.07% |
| Tema Space Innovators ETF (NASA) | -1.93% |
| Sprott Gold Miners ETF (SGDM) | -1.90% |
Developed ex-U.S. & Emerging Markets
South Korea (EWY) registered a standout 1.40% advance, continuing a sustained uptrend that has generated a 187.22% return over the trailing 1-year period. Taiwan (EWT) retreated 0.84% on the day, a predictable cooling period given its highly overbought 14-day RSI reading of 73.88. Meanwhile, Mexico (EWW) served as the primary drag within emerging markets, declining 1.76% despite maintaining a positive 11.19% year-to-date posture.
| Name (Ticker) | 1-Day % Change | 1 Month | 3 Month | YTD | 1 Year |
|---|---|---|---|---|---|
| Dev ex-U.S. (EFA) | -0.38% | 8.08% | -0.70% | 5.57% | 24.83% |
| Australia (EWA) | 0.07% | 7.28% | 3.36% | 11.45% | 22.99% |
| Canada (EWC) | 0.07% | 8.11% | 3.20% | 7.51% | 40.08% |
| France (EWQ) | -0.40% | 7.95% | -2.06% | 0.47% | 13.45% |
| Germany (EWG) | -0.54% | 10.61% | -4.92% | -0.89% | 8.78% |
| Hong Kong (EWH) | -0.13% | 4.24% | 0.26% | 9.79% | 43.19% |
| Japan (EWJ) | 0.41% | 7.68% | 2.14% | 8.60% | 29.62% |
| Netherlands (EWN) | -0.90% | 12.10% | -1.65% | 9.85% | 35.13% |
| South Korea (EWY) | 1.40% | 29.55% | 27.73% | 61.21% | 187.22% |
| Switzerland (EWL) | -0.81% | 7.16% | -2.41% | 1.83% | 17.31% |
| U.K. (EWU) | -0.81% | 5.64% | 0.24% | 5.98% | 27.80% |
| Emerging (EEM) | -0.16% | 15.29% | 5.47% | 16.32% | 50.00% |
| Brazil (EWZ) | -0.13% | 8.90% | 5.28% | 25.56% | 56.18% |
| China (MCHI) | -1.19% | 4.20% | -9.75% | -4.91% | 12.48% |
| India (INDA) | -0.40% | 7.77% | -4.47% | -8.64% | -6.57% |
| Indonesia (EIDO) | -0.85% | -1.04% | -20.59% | -18.56% | -5.83% |
| Malaysia (EWM) | -0.17% | 3.20% | -2.40% | 7.24% | 29.91% |
| Mexico (EWW) | -1.76% | 6.91% | -0.99% | 11.19% | 38.09% |
| South Africa (EZA) | -0.48% | 8.63% | -11.71% | 1.41% | 53.93% |
| Taiwan (EWT) | -0.84% | 25.70% | 22.48% | 37.49% | 97.18% |
| Thailand (THD) | 1.10% | 5.73% | 7.27% | 17.18% | 36.53% |
Fixed Income
Bond markets exhibited a clear duration penalty on Monday, with Long-Term Government (SPTL) and Long-Term Multisector (BLV) portfolios shedding 0.42% and 0.45% respectively. From a credit perspective, lower-quality instruments demonstrated slight relative strength, allowing Bank Loans (BKLN) and High Yield (HYG) to post marginal gains of 0.19% and 0.04%. Municipal bonds remained largely insulated from the broader rate volatility, anchored by Long-Term Municipals (MLN) advancing 0.06%.
| Name (Ticker) | 1-Day % Change | 1 Month | 3 Month | YTD | 1 Year |
|---|---|---|---|---|---|
| Multisector | |||||
| Short-Term (BSV) | -0.08% | 0.70% | 0.43% | 0.49% | 3.94% |
| Core (AGG) | -0.15% | 1.26% | 0.23% | 0.54% | 4.89% |
| Core Enhanced (IUSB) | -0.15% | 1.36% | 0.23% | 0.60% | 5.29% |
| Long-Term (BLV) | -0.45% | 1.97% | -0.52% | 0.17% | 4.32% |
| Government | |||||
| Ultrashort (BIL) | 0.01% | 0.28% | 0.88% | 1.12% | 3.94% |
| Short-Term (SPTS) | -0.03% | 0.51% | 0.50% | 0.53% | 3.57% |
| Inflation Protected (TIP) | -0.03% | 1.91% | 1.25% | 1.69% | 4.67% |
| Intermediate (SPTI) | -0.07% | 0.96% | 0.45% | 0.28% | 3.93% |
| Long-Term (SPTL) | -0.42% | 1.25% | -0.42% | 0.03% | 2.32% |
| Specialty | |||||
| Bank Loans (BKLN) | 0.19% | 1.65% | 0.31% | -0.04% | 6.38% |
| High Yield (HYG) | 0.04% | 2.77% | 0.65% | 1.32% | 8.33% |
| Convertible (CWB) | -0.07% | 12.26% | 6.49% | 13.31% | 32.71% |
| Preferred Stock (PFF) | -0.10% | 4.90% | 0.02% | 2.86% | 10.34% |
| Corporate (SPIB) | -0.12% | 1.36% | 0.29% | 0.56% | 5.87% |
| Mortgage Backed (MBS) | -0.18% | 1.35% | 0.33% | 0.88% | 6.33% |
| International & EM | |||||
| Emerging USD (EMB) | -0.18% | 3.81% | 0.55% | 1.07% | 11.85% |
| Emerging Local (EMLC) | -0.23% | 3.75% | -1.91% | 0.94% | 11.90% |
| International USD (BNDX) | -0.25% | 1.05% | -0.30% | 0.11% | 1.57% |
| International Local (IGOV) | -0.29% | 2.89% | -2.80% | 0.12% | 1.18% |
| Municipals | |||||
| Long-Term (MLN) | 0.06% | 2.84% | 2.18% | 2.11% | 7.98% |
| Intermediate (MUB) | 0.04% | 1.95% | 0.50% | 1.08% | 6.62% |
| Short-Term (SUB) | 0.00% | 0.44% | 0.12% | 0.60% | 3.81% |
| High Yield (HYD) | 0.00% | 3.30% | 1.12% | 1.30% | 6.67% |
Commodities
Energy markets captured the bulk of Monday’s commodity flows, driving Brent Crude (BNO) up 1.84% and pushing its 1-year return to 91.97%. Agricultural assets also secured positive momentum, led by a 2.24% gain in Wheat (WEAT) as supply chain narratives re-entered the spotlight. Conversely, precious metals broadly declined, with Palladium (PALL) and Platinum (PPLT) dropping 2.09% and 1.41% in a mild reversal of recent industrial demand trends.
| Name (Ticker) | 1-Day % Change | 1 Month | 3 Month | YTD | 1 Year |
|---|---|---|---|---|---|
| Broad (DJP) | 0.74% | 2.51% | 14.56% | 30.10% | 43.81% |
| Agriculture | |||||
| Wheat (WEAT) | 2.24% | 2.33% | 15.66% | 18.73% | 2.20% |
| Corn (CORN) | 1.31% | -0.38% | 6.89% | 4.40% | -3.44% |
| Soybeans (SOYB) | 0.78% | 1.94% | 10.58% | 12.81% | 12.86% |
| Broad (DBA) | 0.66% | 1.47% | 6.70% | 8.03% | 3.93% |
| Sugar (CANE) | -0.74% | -11.58% | -2.09% | -3.74% | -20.76% |
| Energy | |||||
| Brent Crude (BNO) | 1.84% | 1.63% | 70.46% | 89.12% | 91.97% |
| WTI Crude (USO) | 1.75% | 8.47% | 78.06% | 94.79% | 95.16% |
| Broad (DBE) | 1.47% | 2.34% | 60.95% | 77.84% | 80.59% |
| Nat Gas (UGA) | 0.86% | 7.98% | 66.54% | 80.74% | 87.01% |
| Industrial Metals | |||||
| Copper (CPER) | -0.03% | 10.40% | 0.96% | 5.64% | 21.56% |
| Broad (DBB) | -0.40% | 9.56% | 3.17% | 9.37% | 40.67% |
| Precious Metals | |||||
| Broad (DBP) | -0.59% | 4.57% | -16.20% | 7.24% | 52.41% |
| Silver (SLV) | -0.67% | 7.71% | -32.74% | 6.07% | 127.39% |
| Gold (GLD) | -0.78% | 3.66% | -9.71% | 8.47% | 41.07% |
| Platinum (PPLT) | -1.41% | 6.25% | -24.30% | -3.45% | 102.30% |
| Palladium (PALL) | -2.09% | 6.50% | -23.66% | -8.11% | 55.66% |
Cryptocurrency
Digital assets experienced a synchronized drawdown on Monday, highlighted by XRP (XRP) declining 3.29% to lead the sector lower. Solana (SOLZ) followed closely with a 2.64% drop, compounding a difficult environment that has seen the token shed 32.99% year-to-date. Even the segment’s stalwarts were not immune to the selling pressure, as Ethereum (ETHA) and Bitcoin (IBIT) fell 1.43% and 1.04% respectively amid shifting institutional risk appetites.
| Name (Ticker) | 1-Day % Change | 1 Month | 3 Month | YTD | 1 Year |
|---|---|---|---|---|---|
| XRP (XRP) | -3.29% | 5.41% | -27.56% | -24.03% | |
| Solana (SOLZ) | -2.64% | 1.63% | -34.41% | -32.99% | -49.83% |
| Ethereum (ETHA) | -1.43% | 15.06% | -24.35% | -23.00% | 26.34% |
| Multi-Coin (NCIQ) | -1.27% | 14.80% | -17.30% | -15.36% | -18.85% |
| Bitcoin (IBIT) | -1.04% | 16.47% | -13.96% | -12.27% | -19.73% |
What to Watch Today
Going into Tuesday’s session, market participants will tightly focus on the latest Consumer Confidence index data to gauge the resilience of U.S. household spending in a complex macroeconomic environment. Additionally, the release of the Richmond Fed Manufacturing Index will provide mid-cycle insights into regional industrial activity and localized price pressures. These data points will be instrumental in framing immediate Fed policy expectations and directing near-term asset class rotation.
