Daily Review & Preview: September 9, 2025
Macro Overview
U.S. markets began the week on a cautiously optimistic note, with major indices posting modest gains. The S&P 500 (IVV) climbed 0.25%, driven primarily by a rebound in the technology sector as investors positioned themselves ahead of a crucial week for economic data. Market participants are keenly awaiting fresh inflation readings which will be pivotal in shaping the Federal Reserve’s upcoming interest rate decisions. The mixed performance across sectors, with defensive areas like Utilities lagging, suggests an underlying tone of caution as investors weigh growth prospects against persistent inflation concerns.
U.S. Size & Style
The divergence between growth and value was evident in Monday’s session. Large-cap growth stocks (IVW) led the way, while mid-cap value (IJJ) and small-cap value (IJS) were among the weakest performers.
| Name | 1-Day % Change |
|---|---|
| Large Growth (IVW) | 0.53% |
| Large Cap (IVV) | 0.25% |
| Mid Growth (IJK) | 0.11% |
| Large Value (IVE) | -0.16% |
| Small Value (IJS) | -0.27% |
| Mid Value (IJJ) | -0.29% |
U.S. Sectors & Industries
Technology was the standout leader, gaining 0.75% as investors bought into high-growth names. On the other end of the spectrum, the defensive Utilities sector was the day’s biggest laggard, falling over 1%, joined by Real Estate and Consumer Staples.
| Sector | 1-Day % Change |
|---|---|
| Technology | 0.75% |
| Consumer Discretionary | 0.39% |
| Industrials | 0.23% |
| Consumer Staples | -0.37% |
| Real Estate | -0.66% |
| Utilities | -1.02% |
Global Thematic
Thematic ETFs showed significant divergence. Futuristic themes like space exploration (UFO) and uranium miners (URNM) saw strong rallies. Conversely, vice-related themes such as cannabis (MJ) and clean energy ETFs experienced sharp declines.
| Name | 1-Day % Change |
|---|---|
| Procure Space ETF (UFO) | 4.03% |
| Sprott Uranium Miners ETF (URNM) | 3.42% |
| Sprott Junior Uranium Miners ETF (URNJ) | 3.37% |
| Pacer American Energy Independence ETF (USAI) | -1.85% |
| SPDR S&P Kensho Clean Power ETF (CNRG) | -1.95% |
| Amplify Alternative Harvest ETF (MJ) | -2.89% |
Developed Markets ex-U.S.
International developed markets posted strong gains, largely driven by a significant rally in Japanese equities (EWJ). In contrast, Swiss equities (EWL) lagged behind the broader positive trend.
| Name | 1-Day % Change |
|---|---|
| Japan (EWJ) | 2.25% |
| Netherlands (EWN) | 1.31% |
| Hong Kong (EWH) | 1.04% |
| Australia (EWA) | 0.26% |
| Canada (EWC) | 0.26% |
| Switzerland (EWL) | 0.14% |
Emerging Markets
Emerging markets displayed a wide range of outcomes. South Africa (EZA) and China (MCHI) were notable outperformers. However, country-specific issues weighed on Indonesia (EIDO) and Turkey (TUR), which both fell sharply.
| Name | 1-Day % Change |
|---|---|
| South Africa (EZA) | 2.45% |
| China (MCHI) | 1.55% |
| Taiwan (EWT) | 1.28% |
| Chile (ECH) | -1.77% |
| Turkey (TUR) | -2.37% |
| Indonesia (EIDO) | -2.40% |
Fixed Income
The bond market saw demand for longer-duration government debt, with zero-coupon treasury ETFs leading the gains. In contrast, interest rate hedge products and some emerging market debt ETFs faced significant declines.
| Name | 1-Day % Change |
|---|---|
| PIMCO 25+ Year Zero Coupon US Treasury (ZROZ) | 2.53% |
| iShares 25+ Year Treasury STRIPS Bond ETF (GOVZ) | 2.52% |
| Simplify Bond Bull ETF (RFIX) | 2.21% |
| BondBloxx JP Morgan USD EM 1-10 Year (XEMD) | -0.55% |
| Simplify Opportunistic Income ETF (CRDT) | -0.67% |
| Simplify Interest Rate Hedge ETF (PFIX) | -4.12% |
Commodities
Commodities were broadly positive, led by a strong move in precious metals and natural gas. Palladium (PALL) was a standout performer. Carbon allowances (KCCA) and gasoline (UGA) were among the few decliners.
| Name | 1-Day % Change |
|---|---|
| abrdn Physical Palladium Shares ETF (PALL) | 2.25% |
| United States Natural Gas Fund LP (UNG) | 1.70% |
| Breakwave Dry Bulk Shipping ETF (BDRY) | 1.37% |
| Direxion Auspice Broad Commodity Strategy ETF (COM) | 0.21% |
| United States Gasoline Fund LP (UGA) | -0.45% |
| KraneShares California Carbon Allowance Strategy ETF (KCCA) | -2.56% |
Cryptocurrency
The digital asset space saw strong outperformance from select altcoins, with Solana-linked ETFs (SOLZ, SSK) surging. However, the larger-cap assets were more subdued, as Ethereum-based funds registered losses.
| Name | 1-Day % Change |
|---|---|
| Solana ETF (SOLZ) | 5.58% |
| REX-Osprey SOL + Staking ETF (SSK) | 5.31% |
| Coinshares Bitcoin ETF (BRRR) | 0.56% |
| Fidelity Ethereum Fund ETF (FETH) | -0.97% |
| Franklin Ethereum ETF (EZET) | -1.00% |
| ProShares Ether ETF (EETH) | -1.02% |
What to Watch Today
The main event for investors today will be the release of the Producer Price Index (PPI) for August. As a measure of inflation at the wholesale level, PPI serves as a critical leading indicator for the more widely-watched Consumer Price Index (CPI). Market participants will be scrutinizing the core PPI reading (which excludes volatile food and energy prices) for any signs that inflationary pressures are either moderating or re-accelerating. A hotter-than-expected number could reignite fears of a more aggressive Federal Reserve, potentially pressuring both stocks and bonds. Conversely, a soft reading could bolster the case for a pause in rate hikes and provide a tailwind for risk assets.
For a deeper dive into the data, access today’s full Daily ETF Data Pack.
Disclosures
This material is for informational purposes only and should not be considered investment advice. All investments, including ETFs, involve risk, including the possible loss of principal. Investors should consider their investment objectives, risks, charges, and expenses carefully before investing.
This analysis was developed by the team at ETF Action. We leverage advanced AI tools to assist in the drafting and refinement of our content, based on our expert prompts, direction, and final review.
