🇺🇸 The Stock Market Today

The NASDAQ 100 ($QQQ) led the market today with 0.77% gain, followed by the Russell 2K ($IWM) at +0.7%. The S&P 500 ($SPY) advanced 0.48%, and the Dow Jones Industrial ($DJI) lagged, coming in nearly flat with a gain of 0.04%.

Technology ($XLK) and Basic Materials ($XLB) led sectors, adding 1.57% and 1.3%. Consumer Discretionary ($XLY), Consumer Staples ($XLP), Financials ($XLF), and Healthcare ($XLV) were all in the red with the latter worst off (-0.88%).

Semiconductors ($SOXX) and mining ($XME) broadly led the rally with gains of 1.22% and 2.42% respectively. Gold miners ($GDX) and silver miners ($SIL) specifically rose 5.65% and 5.81%.

$AMD gained 3.63%, $NVDA 2.5%, $AMAT 2.5%, and $NXPI 2.05%. $ASML was up a more modest 1.17%. $MSFT gained 3.11%. $CDE saw a 7.42% jump, $HL was up 5.14%, $FCX was up 4.84%, and $NEM gained 4.69%.

5️⃣ I N T E L R U N N E R 1️⃣

🇺🇸 The prediction markets around the new Fed chair are indicating Warsh is likely to be nominated by the end of February and confirmed by May. [Polymarket]

Revised analysis is on the way for that...

🦅 I N T E L R U N N E R 🦅

🇺🇸 The energy and consumer staples sectors have been quite strong the last few months as investors rotate out of megacaps and tech.

$XLE is up 23.3% since December 16th. $XLP is up 15.8% since January 9th. Each are up 22.7% and 14.7% against the S&P 500 from each of those respective dates.

There have also been fairly substantial flows into Financials ($XLF), as banking ETFs like $KBWB have also appreciated quite a bit, as well as Industrials ($XLI) and Basic Materials ($XLB), which have been lagging the leaders slightly (probably due to gains unseen by said leaders last year).

Financials (outside of banks) have had the worst run year to date, pulling the sector down 5.64%. Technology is right behind, withdrawing 3.26% this year.

If this bull is to continue, we'll want to see leadership from something other Energy and Staples, which scream "inflation!"

🤑 I N T E L R U N N E R 🤑