Session summary

S&P 500 is up 0.42% at 7,575.39, with the VIX down 5.11% to 15.03, indicating a risk-on sentiment.

Market posture

Consumer Staples and Materials are outperforming, up 0.85% and 0.87% respectively, while Healthcare and Industrials are lagging, down 0.83% and 0.31% respectively.

Macro backdrop

The 10Y Yield is up 0.66% to 4.57, and the US Dollar Index is down 0.02% to 101.10, suggesting a moderate inflation expectation.

Key movers context

META and NVDA are leading gainers, up 4.59% and 4.27% respectively, while AMZN is down 0.35%.

Desk watchlist

Monitoring the performance of Communications and Tech sectors, given the strong moves in META and NVDA, and the potential impact on the broader market.