Major Movers
Published
SPY is off 0.2% on the session, with breadth weak across most of the market. Financials (-0.5%) are under broad pressure, though Coinbase (+4.9%) and Robinhood (+4.2%) stand out sharply to the upside within the sector, running counter to the rest of a group where nearly every bank, insurer, and asset manager is in the red. Insurers are among the weakest within Financials, with Progressive (-1.6%), Allstate (-1.5%), and Travelers (-1.5%) leading the declines. Technology (+0.1%) is essentially flat at the sector level, but the composition is notably split: semiconductors and hardware names are rallying, while software and IT services are selling off. Broadcom (+3.8%), Lam Research (+3.1%), Applied Materials (+2.1%), and KLA Corp (+1.2%) are leading the sector higher, while Oracle (-3.1%), Accenture (-3.0%), IBM (-2.4%), and Akamai (-2.4%) are the notable drags. Consumer Discretionary is flat, with Tesla (+0.8%) and hotels holding up, while Lennar (-3.7%) and General Motors (-3.2%) are the clear laggards. Industrials (-0.1%) are nearly unchanged, with Eaton (+1.8%), Vertiv (+1.4%), and Quanta Services (+1.1%) leading, while rails and logistics names trail. Health Care (-0.5%) is soft broadly, with Intuitive Surgical (+2.1%) the standout gainer. Materials (-1.4%) is the weakest main sector, with Nucor (-4.8%) by far the worst in the group. Utilities (-1.2%) are selling off in step with rising global yields, with Constellation Energy (-1.6%) the largest decliner. Energy (-0.3%) is modestly lower, with refiners and royalty names mixed but offshore drillers slightly firmer. Real Estate (-0.7%) is under pressure across the board as bond yields climb.
On factors, momentum leads the session at +1.0% for SPMO, with high beta and growth also positive. Value, dividend, and minimum volatility factors are all down 0.4% to 0.6%, reflecting the day's rotation away from defensive and rate-sensitive positioning. International factors are notably weak, with EFV (-1.7%) and EFAV (-1.4%) among the softest readings, consistent with pressure on European markets amid rising sovereign yields.
Within the mega-cap growth cohort, the semiconductor names dominate the upside: Broadcom (+3.8%), Lam Research (+3.1%), Alphabet (C) (+2.7%), and Alphabet (A) (+2.4%) are the clear leaders. On the downside, Oracle (-3.1%), Accenture (-3.0%), Intuit (-2.3%), Qualcomm (-1.8%), ServiceNow (-1.6%), and Adobe (-1.5%) are the largest decliners, with software and IT services disproportionately represented among the losers.
Semiconductor ETFs are among the session's few bright spots: SOXX (+1.2%) and SMH (+1.0%) are both higher. On the other side, IGV (-1.6%), which tracks software, is among the weakest other-sector ETFs, consistent with the broad selling in that group. Homebuilder ETFs are also weak, with ITB (-1.3%) and XHB (-0.7%) both lower. Insurance ETF KIE is off 1.0%. EUFN (-1.9%) extends the pressure on European financials.
Among individual movers not covered above, optical and storage names are seeing outsized gains, while space and cybersecurity names are under heavy selling pressure. Strategy Inc's move higher is consistent with a broad crypto-adjacent bid that is also lifting Coinbase and Robinhood. Netflix is the largest single-stock decliner in the bottom five.
- Strategy Inc: +7.7%
- Lumentum Holdings: +5.0%
- Karman Holdings: +4.9%
- Coherent Corp: +4.6%
- Sandisk: +3.3%
- AST SpaceMobile: -5.2%
- Netflix: -4.9%
- Redwire Space: -4.2%
- Rocket Lab: -3.7%
- Palo Alto Networks: -3.7%
Global X Cybersecurity ETF (-2.3%) is worth noting given the broad selling in security software names, with Palo Alto Networks among the session's largest individual decliners.