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Market Wrap

Tech leadership widens the gap as rate-cut bets firm up into the weekend

Equities closed the week on a firmer footing as cooling inflation data revived expectations for an autumn rate cut. The Nasdaq led the advance, powered by another leg higher in semiconductors, while breadth quietly improved beneath the megacap surface. Our desk reads the tape as constructive — but not yet euphoric.

By Elena Vargas6 min readRead full analysis

S&P 500

^GSPC

7,500.58Live Data

Showing 1Y price history · data sourced from Supabase

From the Desk

All analysis

Sector Focus
Semiconductors are doing the heavy lifting — is the rally too narrow?
Five names account for nearly half of the index's year-to-date return. We map the concentration risk and where participation is finally broadening.
Marcus Whitfield4 min read
Rates & Bonds
The 10-year drifts lower as soft data resets the curve
Yields eased for a third straight session. What the moves in the belly of the curve tell us about the market's growth expectations.
Priya Nair5 min read
Commodities
Crude grinds higher on tightening inventories and steady demand
Energy was the quiet outperformer this week. A look at the supply picture heading into the summer driving season.
Daniel Osei3 min read

Tech leadership widens the gap as rate-cut bets firm up into the weekend

S&P 500

From the Desk

Semiconductors are doing the heavy lifting — is the rally too narrow?

The 10-year drifts lower as soft data resets the curve

Crude grinds higher on tightening inventories and steady demand