Market Update – Eclectic Mix with Procyclical Bias; Metals Rip Higher

Today’s session opened with a noticeable defensive tilt, but leadership has since broadened into a rather eclectic mix. The Technology sector—particularly semiconductors—has emerged among the leaders, driven by fresh positive news flow and follow-through buying from new year positioning. However, mega-cap tech names are lagging noticeably, creating divergence within the growth space. Precious and industrial…