Bill Cara’s US market report summarizes today’s trading activity, detailing a broad-based, pre-Thanksgiving rally across indices that was primarily driven by declining Treasury yields and strong probability of a Federal Reserve rate cut. The analysis identifies a stark divergence in sector performance, noting that institutional money is rotating away from recent darlings, causing the Technology sector to post the lowest average INSTAT score due to internal “AI Chip Wars” and profit-taking in semiconductors. Conversely, today the Consumer and Healthcare sectors demonstrated the highest technical strength in the report, buoyed by positive retail earnings and the accelerating “obesity trade” in pharmaceutical stocks like Eli Lilly. Momentum also favored cyclicals, as the Financials sector rallied on the prospect of lower borrowing costs, with international markets mirroring this rotation into global banking and healthcare names. The report ultimately validates the shift from pure tech to broader industrial and financial cyclicals, despite strong technical buy signals in niche material stocks like copper miners.
To our American readers, enjoy the Thanksgiving holiday. Make it special!
