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Looking for deeper insight on markets? In tonight’s Closer sent to Bespoke Institutional clients, we kick things off with a look at semiconductors as SMH has broken out to a new all-time high. We also look at the movements in the 3m10y yield curve while cyclical machinery and bank stocks begin to breakout. Turning to economic data, we review today’s New Home Sales release. We also show what staffing provider Robert Half’s (RHI) earnings report indicated on the labor market. We finish tonight with our weekly look at ICI fund flows—showing another week of equity outflows—and EIA data showing a massive drop in production.
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