The morning read
US equities remain in an upward trend with the S&P near recent highs, though the share of stocks above their 50-day average has slipped from 58% to 55% over the past week, and volatility remains calm near 14. Gold and Bitcoin have both risen strongly over the past month alongside a weaker dollar, while the 10-year Treasury yield has climbed to 4.79%, up 16 basis points over 20 days, alongside rising oil prices and inflation breakevens. Sector leadership currently favors Energy, Health Care and Financials, while Technology and Industrials are lagging.
Unlock the full morning read
Free subscribers see the whole pre-market pulse: the tape, breadth, rates and inflation, commodities, crypto, sector rotation and the four-week calendar. One click from your welcome email unlocks this device.