US Stock Market Sector Analysis – Wednesday, September 25, 2024 MIXED

The US stock market opened with infrastructure strength after Hewlett Packard Enterprise (HPE) jumped 5.1% and the Infrastructure sector led gains, rising 2.0% as investors favored capex and data-center related names. That strength contrasted with pressure in Energy and Biotech, where Exxon Mobil (XOM) fell 1.9% and the Biotech sector slid 3.7% following broad profit-taking. The S&P 500 traded modestly higher with the Magnificent 7 (AI Spenders) up 0.5% for the day, paced by NVIDIA (NVDA) which gained 2.2% and Tesla (TSLA) which rose 1.1% among the group. Today's moves reflect rotation into AI infrastructure and chip supply chains while defensive and cyclicals showed mixed participation.

Market Condition Dashboard

US 10-Year Treasury Yield

Neutral

3.79%

falling

Impact

Confidence

Crude Oil (WTI)

Neutral

$69.69

-2.6% 1D

Impact

Confidence

VIX (Fear Index)

Normal Range

15.4

+0.1% 1D

Impact

Confidence

Tracked Stocks Breadth (50DMA)

Late-Cycle Caution

79%

54 of 68 above 50DMA

Impact

Confidence

Put/Call Ratio (5D)

Caution

0.75

Call-Heavy · stable

Impact

Confidence

Signal analysis only — not investment advice

Sector Performance (Base=100)

AI and Technology Sector Analysis

The AI investment theme remains the market's engine as the Mag 7 continue to underpin momentum: NVIDIA (NVDA) $123.32 is up 2.2% and Microsoft (MSFT) $426.19 is up 0.7%, keeping headline risk low for the group. Chip Supply Chain and Infrastructure are benefiting from that dynamic — Intel (INTC) $23.54 and AMD $162.02 outperformed, and Hewlett Packard Enterprise (HPE) $19.03 led infrastructure gains — signaling ongoing capex refreshing. Enterprise Software is showing more nuanced behavior: ServiceNow (NOW) $178.01 slipped 3.6% even as the sector remains +13.4% over the 50-day window, highlighting stock-specific earnings sensitivity amid broad AI adoption.

US Stock Sector Overview

Sector	1D	5D	20D	vs 50MA
Mag 7 (AI Spenders)	+0.5%	+1.5%	+7.2%	ABOVE
Chip Supply Chain	+1.3%	+2.7%	+9.9%	ABOVE
Infrastructure	+2.0%	+4.8%	+9.4%	ABOVE
Enterprise Software	-0.7%	-0.2%	+7.5%	ABOVE
Finance	-1.0%	-1.3%	-3.4%	BELOW
Healthcare	+0.1%	+0.5%	-2.1%	BELOW
Retail	+0.8%	+2.6%	+4.6%	ABOVE
IT Services	-0.3%	+2.0%	+5.7%	ABOVE
Airlines	+1.4%	+3.2%	+25.8%	ABOVE
Hospitality & Travel	-0.4%	+2.2%	+7.7%	ABOVE
Food & Restaurant	+0.7%	+0.5%	+2.8%	ABOVE
Logistics	+0.1%	-6.3%	-3.5%	BELOW
Industrial	-0.6%	+1.4%	+4.7%	ABOVE
Cybersecurity	-1.0%	+1.6%	-2.0%	ABOVE
Chip Equipment	+0.8%	+0.3%	-1.8%	BELOW
Data Center REITs	+0.4%	+2.4%	+9.4%	ABOVE
Utilities	+0.1%	+1.4%	+4.9%	ABOVE
Energy	-2.2%	-0.9%	-1.4%	BELOW
Defense & Aerospace	-0.1%	+1.0%	+1.6%	ABOVE
Telecom	+0.2%	+1.4%	+5.8%	ABOVE
Media & Entertainment	+0.1%	+1.5%	+5.2%	ABOVE
Biotech	-3.7%	-4.4%	+0.3%	BELOW
Materials	-0.2%	+2.2%	+4.0%	ABOVE
Analog & Embedded Chips	-0.9%	-2.3%	-2.7%	BELOW

Sector Strength

Infrastructure +2.0% 20d: +9.4%

Hewlett Packard Enterprise (HPE) +5.1% (20d: +5.2%), Vertiv (VRT) +3.4% (20d: +25.1%), Dell (DELL) +2.4% (20d: +7.7%)

Airlines +1.4% 20d: +25.8%

Delta (DAL) +2.0% (20d: +20.6%), United (UAL) +0.9% (20d: +30.9%)

Chip Supply Chain +1.3% 20d: +9.9%

Intel (INTC) +3.2% (20d: +20.0%), AMD +2.3% (20d: +10.7%), ARM Holdings (ARM) +2.2% (20d: +16.8%)

Retail +0.8% 20d: +4.6%

Walmart (WMT) +0.9% (20d: +7.0%), Costco (COST) +0.8% (20d: +2.3%)

Chip Equipment +0.8% 20d: -1.8%

Lam Research (LRCX) +1.6% (20d: +0.1%) [<50MA], ASML +0.5% (20d: -7.9%) [<50MA], Applied Materials (AMAT) +0.3% (20d: +2.3%)

Sector Warnings

Biotech -3.7% 20d: +0.3%

Amgen (AMGN) -5.5% (20d: -5.0%) [<50MA], Gilead (GILD) -1.9% (20d: +5.6%)

Energy -2.2% 20d: -1.4%

Chevron (CVX) -2.4% (20d: -1.4%) [<50MA], Exxon Mobil (XOM) -1.9% (20d: -1.5%) [<50MA]

Finance -1.0% 20d: -3.4%

Goldman Sachs (GS) -1.4% (20d: -1.8%), JPMorgan (JPM) -0.7% (20d: -5.0%) [<50MA]

Cybersecurity -1.0% 20d: -2.0%

Zscaler (ZS) -1.4% (20d: -11.5%) [<50MA], Palo Alto Networks (PANW) -0.9% (20d: -2.8%), CrowdStrike (CRWD) -0.7% (20d: +8.4%)

Analog & Embedded Chips -0.9% 20d: -2.7%

Microchip Technology (MCHP) -1.8% (20d: -4.1%) [<50MA], Texas Instruments (TXN) +0.1% (20d: -1.3%)

Sector Deep Dive

Infrastructure: The Infrastructure sector outpaced peers, rising 2.0% for the day and showing a strong 50-day context despite a 50-day performance of -3.9% (sector vs 50MA: ABOVE). Hewlett Packard Enterprise (HPE) $19.03 led the group with a +5.1% move on heavy flows, while Vertiv (VRT) $100.52 climbed +3.4% and Dell (DELL) $116.73 added +2.4%. The 50-day window suggests investors are rotating into hardware and data-center vendors as AI-driven demand supports near-term order books even if the sector's 50-day absolute is modestly negative.

Chip Supply Chain & Chip Equipment: Chip Supply Chain posted +1.3% today and sits above the 50-day line with a 50-day change of -3.7% for the sector, reflecting resilience despite some recent consolidation. Intel (INTC) $23.54 jumped +3.2% and AMD $162.02 added +2.3%, showing renewed appetite for node transition and enterprise GPU cycles. By contrast, Chip Equipment remains under pressure with a 50-day change of -13.0% and a mixed intraday reading (+0.8% today), underscoring uneven capital spending across foundries and equipment vendors within the 50-day timeframe.

Enterprise Software & Cloud: Enterprise Software fell -0.7% today but maintains a healthy 50-day context (+13.4% over the 50-day window), pointing to durable demand for AI-enabled applications. ServiceNow (NOW) $178.01 was a notable decliner at -3.6% after stock-specific news, while larger cloud beneficiaries among the Mag 7 helped offset weakness. The 50-day trend supports continued interest in recurring-revenue software franchises even as individual names reset on execution or guidance misses.

Biotech & Healthcare: Biotech underperformed, down -3.7% on the day and trading below its 50-day reference despite a sector 50-day change of +3.5% that still leaves the group categorized as BELOW relative to breadth. Amgen (AMGN) $296.29 led losses with a -5.5% drop, weighing on the subsector with headline-driven volatility. Healthcare overall is mixed — the broader Healthcare sector is up +0.1% but remains below the 50-day relative threshold (+1.6% 50-day change), signaling selective stock-level opportunities rather than broad-sector leadership.

Market Breadth Analysis

US stock market breadth analysis shows 17 of 24 sectors trading above their 50-day moving average, while 7 are below. The majority of sectors holding above the 50-day MA indicates healthy medium-term momentum. With 17 sectors positive over 20 days, buying pressure remains broad-based.

Interactive Charts

S&P 500 & NASDAQ 100

50-Day Sector Performance

1-Day vs 5-Day Sector Change

Stock-Level Detail

Mag 7 (AI Spenders) Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
NVDA	$123.32	+2.2%	+4.8%	-1.7%	+4.7%	ABOVE	0
TSLA	$257.02	+1.1%	+5.4%	+24.9%	+3.4%	ABOVE	0
META	$565.06	+0.9%	+1.6%	+10.1%	+23.1%	ABOVE	0
MSFT	$426.19	+0.7%	-1.5%	+5.2%	-2.4%	ABOVE	0
GOOG	$161.96	-0.4%	-0.2%	-0.8%	-10.6%	BELOW	1
AAPL	$224.69	-0.4%	-1.1%	-0.1%	-1.0%	ABOVE	1
AMZN	$192.53	-0.7%	+1.4%	+12.7%	+2.4%	ABOVE	1

Chip Supply Chain Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
INTC	$23.54	+3.2%	+11.4%	+20.0%	-31.3%	ABOVE	0
AMD	$162.02	+2.3%	+3.4%	+10.7%	+1.6%	ABOVE	0
ARM	$146.43	+2.2%	+4.2%	+16.8%	-9.4%	ABOVE	0
QCOM	$162.09	+0.8%	-3.2%	-1.6%	-11.7%	BELOW	0
AVGO	$172.85	+0.4%	+4.8%	+11.3%	+12.9%	ABOVE	0
TSM	$178.43	+0.2%	+3.5%	+8.2%	+6.9%	ABOVE	0
MRVL	$70.80	-0.0%	-4.9%	+4.0%	+4.8%	ABOVE	4

Infrastructure Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
HPE	$19.03	+5.1%	+5.3%	+5.2%	-3.9%	ABOVE	0
VRT	$100.52	+3.4%	+9.4%	+25.1%	+23.2%	ABOVE	0
DELL	$116.73	+2.4%	+2.0%	+7.7%	-3.7%	ABOVE	0
CSCO	$50.21	+0.2%	+2.4%	+5.6%	+8.5%	ABOVE	0
SMCI	$45.81	-1.2%	+4.8%	+3.3%	-43.9%	BELOW	2

Enterprise Software Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
CRM	$270.62	+1.3%	+3.0%	+6.0%	+9.3%	ABOVE	0
PLTR	$37.12	+0.6%	+0.8%	+22.3%	+31.5%	ABOVE	0
ADBE	$517.90	-1.2%	-1.6%	-7.6%	-8.0%	BELOW	2
NOW	$178.01	-3.6%	-3.2%	+9.3%	+20.9%	ABOVE	3

Finance Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
JPM	$201.71	-0.7%	-0.1%	-5.0%	-3.1%	BELOW	1
GS	$474.35	-1.4%	-2.5%	-1.8%	-1.6%	ABOVE	1

Healthcare Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
UNH	$552.83	+0.2%	-0.1%	-1.7%	+0.9%	BELOW	0
LLY	$913.10	+0.0%	+1.0%	-2.6%	+2.2%	ABOVE	0

Retail Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
WMT	$80.13	+0.9%	+4.3%	+7.0%	+14.9%	ABOVE	0
COST	$899.97	+0.8%	+0.9%	+2.3%	+7.5%	ABOVE	0

IT Services Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
IBM	$211.20	+0.1%	+3.4%	+11.5%	+19.1%	ABOVE	0
ACN	$324.28	-0.8%	+0.5%	-0.1%	+3.5%	ABOVE	1

Airlines Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
DAL	$47.66	+2.0%	+3.4%	+20.6%	+6.9%	ABOVE	0
UAL	$54.11	+0.9%	+2.9%	+30.9%	+15.3%	ABOVE	0

Hospitality & Travel Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
BKNG	$164.73	-0.0%	+3.9%	+7.4%	+4.9%	ABOVE	1
MAR	$241.64	-0.8%	+0.4%	+8.0%	-0.5%	ABOVE	1

Food & Restaurant Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
SBUX	$91.45	+1.2%	-1.3%	+0.3%	+28.1%	ABOVE	0
MCD	$288.29	+0.1%	+2.3%	+5.3%	+15.8%	ABOVE	0

Logistics Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
UPS	$117.90	+1.5%	-0.5%	+3.4%	-9.6%	ABOVE	0
FDX	$205.01	-1.3%	-12.2%	-10.5%	-14.6%	BELOW	1

Industrial Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
HON	$196.98	+0.7%	+1.5%	+0.9%	-5.6%	ABOVE	0
CAT	$369.72	-2.0%	+1.3%	+8.6%	+6.1%	ABOVE	1

Cybersecurity Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
CRWD	$71.62	-0.7%	+3.3%	+8.4%	-19.3%	ABOVE	3
PANW	$170.26	-0.9%	+2.1%	-2.8%	+2.5%	ABOVE	2
ZS	$171.75	-1.4%	-0.5%	-11.5%	-11.9%	BELOW	2

Chip Equipment Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA
LRCX	$79.25	+1.6%	+1.9%	+0.1%	-16.7%	BELOW
ASML	$805.73	+0.5%	-1.2%	-7.9%	-12.1%	BELOW
AMAT	$194.41	+0.3%	+0.3%	+2.3%	-10.2%	ABOVE

Data Center REITs Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
DLR	$154.90	+0.5%	+2.5%	+9.4%	+4.7%	ABOVE	0
EQIX	$857.02	+0.3%	+2.2%	+9.4%	+11.4%	ABOVE	0

Utilities Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
NEE	$80.37	+0.4%	+2.8%	+7.3%	+20.1%	ABOVE	0
DUK	$109.21	+0.2%	+0.9%	+3.1%	+9.1%	ABOVE	0
SO	$84.38	-0.4%	+0.6%	+4.2%	+10.4%	ABOVE	2

Energy Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
XOM	$108.34	-1.9%	-1.1%	-1.5%	-1.7%	BELOW	2
CVX	$133.66	-2.4%	-0.7%	-1.4%	-9.7%	BELOW	2

Defense & Aerospace Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
RTX	$117.18	+0.7%	+1.8%	+0.0%	+15.8%	ABOVE	0
LMT	$551.36	-0.1%	+2.3%	+3.0%	+22.1%	ABOVE	2
GD	$290.37	-1.0%	-1.0%	+1.7%	+3.3%	ABOVE	2

Telecom Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
TMUS	$197.44	+0.9%	+1.8%	+1.3%	+11.1%	ABOVE	0
T	$19.67	-0.1%	+0.9%	+8.8%	+12.5%	ABOVE	1
VZ	$39.08	-0.2%	+1.4%	+7.4%	+6.0%	ABOVE	1

Media & Entertainment Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
DIS	$91.78	+0.2%	+0.5%	+5.0%	-3.5%	ABOVE	0
NFLX	$72.16	-0.1%	+2.4%	+5.5%	+11.4%	ABOVE	1

Biotech Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
GILD	$78.34	-1.9%	-2.0%	+5.6%	+13.2%	ABOVE	2
AMGN	$296.29	-5.5%	-6.9%	-5.0%	-6.1%	BELOW	3

Materials Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
APD	$281.06	+0.0%	+2.8%	+6.8%	+9.3%	ABOVE	0
LIN	$466.20	-0.5%	+1.7%	+1.2%	+6.5%	ABOVE	1

Analog & Embedded Chips Show individual tickers

Ticker	Price	1D	5D	20D	50D	vs 50MA	Down Days
TXN	$195.04	+0.1%	-1.2%	-1.3%	+1.0%	ABOVE	0
MCHP	$72.48	-1.8%	-3.5%	-4.1%	-16.4%	BELOW	1

Key Stock Movers

Today's biggest movers by absolute percentage change: Amgen (AMGN) (Biotech) fell 5.5% to $296.29. Hewlett Packard Enterprise (HPE) (Infrastructure) rose 5.1% to $19.03. ServiceNow (NOW) (Enterprise Software) fell 3.6% to $178.01. Vertiv (VRT) (Infrastructure) rose 3.4% to $100.52. Intel (INTC) (Chip Supply Chain) rose 3.2% to $23.54. These individual stock movements were key drivers of their respective sector performance.

Risk and Opportunity Assessment

No major risk alerts are triggered. In a directionless market, maintaining disciplined position sizing and clear stop-loss levels is key to managing downside risk while staying positioned for breakouts.

US Stock Market Outlook

Heading into the next session, market breadth is constructive with 17 sectors above their 50MA and 7 below, while sector counts show 8 up, 10 down and 6 flat — effectively moderate alert counts for rotation. The 50-day trends favor AI-related Infrastructure and Chip Supply Chain, but pockets of weakness in Energy and Biotech argue for selective positioning. Position overweight exposure to durable AI infrastructure and high-quality enterprise software names that remain above their 50-day trend, trim cyclicals showing fresh 50-day deterioration, and use pullbacks in Mag 7 leaders as tactical add points given their stabilizing role for the S&P 500.

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