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Looking for deeper insight on markets? In tonight’s Closer sent to Bespoke Institutional clients, we review the technical setup of the Energy Sector ETF (XLE) given the news of tensions easing between the US and Iran, which sent oil prices and the energy sector sliding today. We also note the breakout of silver over the past couple of sessions and Consumer Discretionary’s outperformance versus the rest of the market. Next, we turn to the dovish turn in Fedspeak with Kaplan and Powell’s statements today. We finish with a look at today’s data releases including Retail Sales, NAHB Homebuilder Sentiment, and Industrial Production, all of which showed strength and further muddle the reasoning of rate cuts.
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