Both of the below links are active; meaning the data shown is current dependent upon the viewing time. The
'etf' link is active during 'markets open' periods, showing data with a 15 minute delay. The closing daily data will stay in place until the next trading day begins (US markets are open). The page is linked with the '%Chg' column selected, which is a daily column. You may select any other column to sort returns for that time frame.
Major global and U.S. etf categories This list is set with
%Chg, which will be for changes for today, July 10; being from most positive to most negative returns.
Per a request, this link is added to this thread at this beginning page.
The data shown is an indicative gauge of direction and isn't a monitor of trading in an open and active market.
REF: Finviz shows about +5% at midnight for Japan; while the active and open market there is +10% at this time.
FINVIZ futures 3pm, Thursday:
Peeking around areas I watch, one finds weakness today with the Mag 7, and money flows to the Russell 2000; and other equity sectors. With lower inflation reported and possible FED rate cuts in the future, of course; one also finds interest rate sensitive areas having gains. The reported inflation is about 3%. Not the 2% the FED wants but probably close enough. Somewhere I have a link that expresses that the very long term official average CPI is 3.3%.
Bond yields, of course; have dropped today, per the hope of a rate cut. Many traditional bond funds first moved to small positive YTD returns last week. Those holding most bond funds today with find a nice price bump.
Well, enough from me. Let us discover what B of A and the other big players have to say.
Remain curious,
Catch
Comments
"Today was one of the wildest days in markets you will ever see. A complete reversal of all of the major secular trends in recent years.
The Losers Became Winners...
Regional Banks $KRE: +4.2%
US Small Caps $IWM: +3.6%
REITs $VNQ: +2.9%
Japanese Yen $FXY: +1.8%
Long Duration $ZROZ: +1.4%
Value $IWD: +1.1%
Emerging Markets $VWO: +0.8%
Developed International $VEA: +0.4%
---
The Winners Became Losers...
US Dollar $UUP: -0.5%
US Large Caps $SPY: -0.9%
Growth $IWF: -2.1%
Nasdaq 100 $QQQ: -2.2%
Apple $AAPL: -2.3%
Amazon $AMZN: -2.4%
Microsoft $MSFT: -2.5%
Tech $XLK: -2.5%
Google $GOOGL: -2.9%
Semiconductors $SOXX: -3.3%
Netflix $NFLX: -3.7%
Meta $META: -4.1%
Nvidia $NVDA: -5.6%
Tesla $TSLA: -8.4%"
https://stockcharts.com/h-sc/ui?s=$NYA50R&p=D&b=5&g=0&id=p86187558912
I watched the transition from the market open and it continued through the day.
Thank you for the nice list and the chart.
dinky linky.
SPGP, RWL, and SPHD were up today. SPHQ was down, but not quite as much as SPY.
Saw a paywalled blurb at Marketwatch saying the smart people are wondering where the beef is with AI.
The article about the 493 that I posted the other day also suggested that folks are getting itchy to be doing something else.
We shall see what tomorrow brings
Sector Tracker
I did even better. First time in 3,900 years. Mr. Market will take it back tomorrow.
BHB.
Can't wait to get rid of discretionary.
IWM up 3+% and SPY more than -0.5% last happened in Oct of 2008 - Bob Pasani, CNBC.
Glad to see Utilities and other touted as AI adjacent / enabled are decoupled lately including today.
Unfortunately, I have no clue about tomorrow.
It is encouraging that bond yields are falling. If and when the FED cut rate this year, bonds will do well on the second half of this year.
Edit: US market valuation is already high than those of historical, especially tech and AI sector. A small pullback and rotating into smaller caps, utility, health care, foreign stocks, and bonds is healthy. Futures are fairly calm as of tonight.
Bond funds I bought today were basically the best responders to today's good news in the categories I have been watching.
Always a chance I misread something, but the kids haven't take the keys away yet.
Good luck with the kids, Derf :-/
What a difference a few years of new experiences can make when you have a less expansive horizon before you.
Gotta love tech.
Major Global and U.S. etf categories (real time, when markets are open)
X.AI
The highlight of the article is that it came from Sequoi, the largest investor in AI venture funding.
I hope those stock-piled GPU's will be responsibly recycled when their time comes.
Yesterday was a six sigma day and violent resets, like earthquakes, are unsettling. How did the guy who came up with efficient market hypothesis did not get roasted to death - may be twitter of that day was not efficient.
"Today was one of the wildest days in markets you will ever see. A complete reversal of all of the major secular trends in recent years.
============================
Not many words there but "a LOT to unpack" as they say!
Agree with the "wildest days" notion. The divergent data was certainly compelling and a sight to behold.
But "a complete reversal of all of the major secular trends"?
C'mon man!
After the dust settled, NASDAQ was still UP 22% YTD and the RUT was pushing 5% YTD thanks to 3+% yesterday.
The key word there IMO is "Today." Meaning, it was ONE, count 'em, ONE freaking day!
I made some comments on another current MFO thread yesterday about what the analysts I listened to were saying about the landmark day (?) as it was unfolding.
Consensus takes?
Let's wait and see. At least (sic) until the end of the week (as in ONE more day later)!
Will investors continue to move money from LCG to Value and SCs?
The move may last for a month or two but are SCs and Value up to the task of being the new market leaders?
Is anyone seeing any significant follow through today? Anyone? Yes, the RUT is leading the major indexes, but only fractionally. NASDAQ sure ain't looking like a dead horse to me.
Earnings start today - lots of wood to chop this month still!.
In retrospect a month or two from now, I'll suggest some investors who have been/are underweight LCG, Tech, AI and/or Mag7 will regret NOT using yesterday as a BUYing opportunity. To wit, had you bought NVDA at the close yesterday, you'd already be UP 2.5%!
One take. Could be dead wrong.
But it's my WAG!
YMMV.
DJIA: 1.10%
S&P: 1.12%
NASDAQ: 1.28%
RUT: 1.23%
Yeah, maybe best to wait at least for more than one month's CPI data points and one more day until the end of the week before going hyperbolic, eh?
EDIT: To clarify, let's be sure we're using the same meanings for the same terms.
Pivot:
2.(especially in a business context) completely change the way in which one does something.
Rotation:
the action of rotating around an axis or center.
I agree that a ^rotation^ may well be underway, that is, the market rally appears to be broadening, and SCs and Value and others appear to be joining the party.
But I see no signs of a ^pivot^, that is, SCs and Value or others are going to replace Tech as the market leader.
Yesterday (to me, FWIW) seems like nothing more than the day in the week that market participants loudly proclaimed that it's finally time to broaden this rally.
If that notion is correct, then the salient topic is how does an investor best participate in the rally broadening? What will do best? Which SC/Value funds or stocks? Which sectors? Given the catalyst, rate cuts - Financials?
Here's a Value funds primer to start all that. Not mentioned there is AUERX.
https://www.morningstar.com/funds/best-value-funds-2
I'll give today a 3 smiles kinda day.
Interesting fund - AUERX. 16 years and only $61M AUM. The fund has done well over the past five years, though it had a forgettable performance before that.
I am tempted to take a flyer on this with a 2.07% ER by selling another fund with half as much ER.
Let us know if you buy AUERX or any other funds.
SCV AUERX has been on our watch list for about a year. Probably shoulda bought it back then. The ER has always been a bit of a turnoff for us but the performance, like you said, has been very good for the past 5 years.
Considering it and a few others, including some SCG funds yogi listed in this week's Barron's summary.
https://www.barrons.com/articles/nvidia-broadcom-meta-stocks-to-buy-roundtable-68451d5e?mod=djem_b_magazine_20240713
HISGX/HASGX
CTSAX/CTSIX
JSJAX/JSJIX
CWSAX/CWSGX
HRSRX/HRSMX
We have not reviewed any of these and have no comment on any of them yet.
Having however very recently jettisoned SCG NEAGX to reduce Tech exposure and risk, not sure we want to venture too deep back into SCs...yet. Will be looking for one with low Tech exposure. Note that AUERX has only 7.8% in Tech.
Also considering a broader stroke approach via equal weighted index funds RSP/VADAX, or simply doing nothing!
Let's see what next week holds RE: what CNBC this week dubbed, the (sic) "Great Rotation"!