00:00 Speaker A
Ending the day in monster rally mode as the US and Iran agree to a fragile ceasefire. Let’s take a look at the tape here. Dow Jones Industrial Average up 1300 points, 1326. That is good for 2.85%.
00:13 Speaker A
Here is the intraday chart and you can see we gapped up and we just held the highs all day long. Very similar chart for the Nasdaq composite up uh just about the same amount. S&P 500 a little bit less, two and a half percent. and the Russell 2000, the small caps up 2.8% as well. So you can go small cap, large cap, mega cap. Here’s a magnificent 7 ETF. It was up 2 and a half percent. and I want to call out specifically the Dow Jones transportation average. I’m going to show you a year-to-date chart.
00:41 Speaker A
That is a fresh record high, the first one we’ve had since February. So the Dow Transports and also semiconductors were the first kind of minor indexes today that I saw that were able to clear to new highs. So chip stocks and transports. And uh you take a look at what happened to the Vix today.
00:56 Speaker A
The Vix is down significantly. This is a still a year-to-date chart and here are the highs that we had. We had a couple days over 30. We are now inching back towards that 20 level. 20 is a big psychological level. So we’ll have to see if that holds there. Uh meanwhile in the bond market, we have uh the 10-year T-note yield down five basis points. That’s a pretty big amount to 4.29%.
01:17 Speaker A
30 year down uh three basis points to 4.89% and the US dollar index got slaughtered down 8/10th of 1%. Doesn’t seem like a lot, but that is a huge amount for the world’s reserve currency. So the Dixi down about 8/10th of 1%. Well, let’s take a look at the large cap sector action. You’re going to see a lot of green, some dark green, industrials, materials, tech, consumer discretionary. Those four cyclical sectors really made the day here. Each of those up 3% except for discretionary, a little bit less than that. Financials also outperforming the S&P 500.
01:45 Speaker A
What didn’t work today? Not surprisingly, energy. That’s says crude oil is down about 15%. We saw that market crash quite a bit there. And I don’t always do this, but I’m going to show you small cap sectors as well because we got industrials in small caps up 4%. Tech was up 3.84% and guess what? Small cap tech hit a record high as well. and very similar to our large caps, energy did the worst there. PSCE down about 2.77%.
02:11 Speaker A
But let’s head on over to the tech heavy Nasdaq 100. You’re not going to see a lot of red here, a little bit. There’s Tesla down 1%, but check out Meta. Meta up six and a half percent. Broadcom up five, Google four, Apple, uh two, Amazon three and Nvidia two. So pretty broad-based strength here. Now, as I like to do, call out the software sector, you know, kind of mixed here and we’ve been seeing that’s the case uh a lot of these days this year. Palantier down 6%, arguably not strictly software, but still down 6%.
02:42 Speaker A
Intuit down five, ServiceNow down 4%. But semiconductors are where the action has been and where we’re seeing it today. and you take check out some of the uh big year to date winners like LAM Research, SanDisk, Western Digital. Those up 8, 9, 10% today. And we are also seeing that in the leaders index here. Uh this is just kind of a collection of ETFs that give me a broad measure of sentiment.
03:00 Speaker A
The only red we’re seeing is that small oil, that small cap oil down here, already showed you that. Software and it looks like uh private equity uh ETF there. But what one big today, that was Korea. EWY up 10%, then we got Sox, that’s Philly Chip index. That was up 6 and a half%. then home builders, emerging markets, uh all kinds of country ETFs uh really coming back today after getting hammered over the last month, month and a half, Quantum, Momentum, the list goes on.
