Sector Reports

Despite a recent rotation into lower volatility sectors, Utilities remained the laggard in the cohort as higher rates have been a headwind.

Mega Cap. weakness has been a persistent headwind to the sector in 2026. META, NFLX and DIS continue to be a drag.

Staples stocks outperformed during the AI momentum unwind, but we’re expecting rotation to more offensive exposures moving forward.

Materials stocks finished July on a strong note, but we need to see more improvement to gain bullish conviction.

Healthcare stocks have rallied over the past 2-months. We’re paring back long exposure at near-term overbought conditions.

AMZN’s strong quarter has a chance to cast the sector in a new light, but inflation pressures and higher rates have kept the pressure on.

While the Middle East conflict carries on, covering Energy exposure is a prudent hedge.

Real Estate stocks have firmed and could continue to benefit from duration aversion in the fixed income market.