To The Moon

Summary of Last Session

U.S. stocks experienced a modest retreat, with the Dow Jones Industrial Average falling nearly 0.3%, the $S&P 500(.SPX)$ dropping 0.1%, and the $NASDAQ(.IXIC)$ declining 0.4%.

Bond yields saw a slight uptick, with the 2-year Treasury yield rising to 4.606% and the 10-year yield reaching 4.218%.

Interest Rate

Rates

• Key Events of the Session

$SUPER MICRO COMPUTER INC(SMCI)$ surged 19% after news of its inclusion in the S&P 500, contributing to gains in chip stocks and artificial intelligence sectors. Notably, the Invesco S&P 500 Equal Weight ETF hit a record high, signaling broad market strength. Market breadth indicators, such as the percentage of S&P 500 constituents trading above their moving averages, improved significantly, suggesting a healthier market.

$SMCI

Market Scenario

The recent uptrend in market breadth suggests a more sustainable rally in equities, with a majority of S&P 500 stocks trading above their moving averages. This broader participation in the market's gains is encouraging for investors concerned about a top-heavy market. $NVIDIA Corp(NVDA)$

However, upcoming events, including Federal Reserve Chairman Jerome Powell's congressional testimony and the Friday jobs report, will be pivotal in determining the market's direction…

Powell

Conclusion

Despite a slight pullback in equities, the strengthening market breadth indicates underlying resilience, with broader participation in the market's gains. While uncertainties remain, such as upcoming economic data and Fed policy decisions, the positive trend in market breadth suggests a solid foundation for continued market growth.

The information provided is for informational purposes only and should not be construed as financial advice. Investors should conduct their own research and consult with a financial advisor before making investment decisions.

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