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US Stock Market Sector Analysis – Wednesday, October 02, 2024 Sectors: BULLISH

The US stock market closed with a clear risk-on tone as 15 sectors gained while seven lagged, driven by a leadership shift into Infrastructure and Enterprise Software. Infrastructure names led the top performers with Vertiv (VRT) jumping 4.8% to $102.06 and Super Micro (SMCI) rising 3.6% to $42.00, while the Magnificent 7 (AI Spenders) group slipped modestly, down 0.6% for the day. Tesla (TSLA) was a notable drag, falling 3.5% to $249.02, and the S&P 500 held firm as investors rotated toward capex- and cloud-related plays. Market action today reflected fund flows into AI-related infrastructure and select enterprise software names, offsetting weakness in select Consumer and Industrial names.

Market Condition Dashboard

US 10-Year Treasury Yield
Neutral
3.79%
falling
Impact
Confidence
Crude Oil (WTI)
Neutral
$70.10
+0.4% 1D
Impact
Confidence
VIX (Fear Index)
Normal Range
18.9
-1.9% 1D
Impact
Confidence
Tracked Stocks Breadth (50DMA)
Late-Cycle Caution
84%
57 of 68 above 50DMA · +4.4pp 5D
Impact
Confidence
Put/Call Ratio (5D)
Caution
0.75
Call-Heavy · stable
Impact
Confidence

Signal analysis only — not investment advice

Sector Heatmap (1D)

Infrastructure +2.38%
Chip Equipment +2.11%
Enterprise Software +1.69%
Cybersecurity +1.44%
Analog & Embedded Chips +1.22%
Healthcare +1.14%
Chip Supply Chain +1.13%
Energy +1.08%
AI Networking & Interconnect +0.90%
Hospitality & Travel +0.85%
EDA & Semiconductor IP +0.78%
IT Services +0.70%
Utilities +0.45%
Media & Entertainment +0.40%
Biotech +0.38%
AI Power & Grid +0.34%
Telecom +0.29%
Finance +0.25%
Data Center REITs -0.01%
Memory & Storage -0.04%
Materials -0.16%
Industrial -0.32%
Food & Restaurant -0.35%
Defense & Aerospace -0.39%
Retail -0.45%
Mag 7 (AI Spenders) -0.57%
Logistics -0.59%
Airlines -1.91%
≤-3%0≥+3%

Sector Performance (Base=100)

AI and Technology Sector Analysis

AI and technology investment flows showed a bifurcated market: compute and infrastructure names outperformed while parts of the Magnificent 7 saw incremental profit-taking. NVIDIA (NVDA) $118.66 added 1.6% as demand for GPUs continued to underpin the sector, even as Microsoft (MSFT) $411.42 eased 0.8% and remains below its 50-day trend. Chip Supply Chain and Chip Equipment strength supported the theme, and Enterprise Software winners like Salesforce (CRM) benefitted from continued cloud and AI spending. Overall, the data support a tactical overweight to infrastructure and select software exposed to AI deployments, while monitoring 50-day breadth in the Mag 7.

US Stock Sector Overview

Sector 1D 5D 20D vs 50MA
Mag 7 (AI Spenders) -0.6% -1.5% +6.2% ABOVE
Chip Supply Chain +1.1% -4.3% +9.3% ABOVE
Memory & Storage -0.0% -5.6% +8.8% N/A
EDA & Semiconductor IP +0.8% -4.8% +7.4% ABOVE
Infrastructure +2.4% -0.6% +13.7% ABOVE
AI Networking & Interconnect +0.9% -1.9% +14.2% N/A
Enterprise Software +1.7% -0.0% +10.0% ABOVE
Finance +0.2% -1.1% -2.0% BELOW
Healthcare +1.1% +0.5% -1.3% BELOW
Retail -0.5% -1.0% +1.8% ABOVE
IT Services +0.7% -0.8% +6.5% ABOVE
Airlines -1.9% -5.9% +19.2% ABOVE
Hospitality & Travel +0.8% -2.1% +9.0% ABOVE
Food & Restaurant -0.3% -0.5% +5.4% ABOVE
Logistics -0.6% -0.0% -0.8% BELOW
Industrial -0.3% -0.4% +9.3% ABOVE
Cybersecurity +1.4% -1.0% +3.5% BELOW
Chip Equipment +2.1% -3.4% +7.7% ABOVE
Data Center REITs -0.0% -0.3% +7.6% ABOVE
AI Power & Grid +0.3% +2.6% +35.5% N/A
Utilities +0.5% +2.2% +2.8% ABOVE
Energy +1.1% +7.0% +7.2% ABOVE
Defense & Aerospace -0.4% +2.9% +4.0% ABOVE
Telecom +0.3% +1.9% +7.3% ABOVE
Media & Entertainment +0.4% -0.6% +5.1% ABOVE
Biotech +0.4% +1.1% +3.6% BELOW
Materials -0.2% -1.9% +4.4% ABOVE
Analog & Embedded Chips +1.2% -2.5% +2.3% BELOW

Sector Strength

Infrastructure +2.4% 20d: +13.7%
Vertiv (VRT) +4.8% (20d: +36.1%), Super Micro (SMCI) +3.6% (20d: +1.3%) [<50MA], Hewlett Packard Enterprise (HPE) +2.8% (20d: +17.0%)
Chip Equipment +2.1% 20d: +7.7%
KLA (KLAC) +3.1% (20d: +6.8%), Lam Research (LRCX) +2.1% (20d: +8.0%), Applied Materials (AMAT) +2.0% (20d: +11.6%)
Enterprise Software +1.7% 20d: +10.0%
Salesforce (CRM) +3.2% (20d: +13.7%), Palantir (PLTR) +2.8% (20d: +24.3%), ServiceNow (NOW) +1.5% (20d: +5.4%)
Cybersecurity +1.4% 20d: +3.5%
CrowdStrike (CRWD) +1.8% (20d: +9.3%), Zscaler (ZS) +1.6% (20d: +4.6%) [<50MA], Palo Alto Networks (PANW) +0.9% (20d: -3.4%) [<50MA]
Analog & Embedded Chips +1.2% 20d: +2.3%
Analog Devices (ADI) +1.8% (20d: +4.0%), Microchip Technology (MCHP) +0.9% (20d: +1.9%) [<50MA], Texas Instruments (TXN) +0.9% (20d: +0.9%)

Sector Warnings

Airlines -1.9% 20d: +19.2%
Delta (DAL) -3.1% (20d: +14.8%), United (UAL) -0.7% (20d: +23.5%)
Logistics -0.6% 20d: -0.8%
FedEx (FDX) -1.0% (20d: -6.0%) [<50MA], United Parcel Service (UPS) -0.2% (20d: +4.4%)
Mag 7 (AI Spenders) -0.6% 20d: +6.2%
Tesla (TSLA) -3.5% (20d: +8.2%), Microsoft (MSFT) -0.8% (20d: +2.1%) [<50MA], Alphabet (GOOG) -0.7% (20d: +5.6%)
Retail -0.5% 20d: +1.8%
Walmart (WMT) -1.0% (20d: +4.5%), Costco (COST) +0.1% (20d: -0.8%)
Defense & Aerospace -0.4% 20d: +4.0%
General Dynamics (GD) -0.5% (20d: +2.2%), Lockheed Martin (LMT) -0.4% (20d: +6.1%), RTX Corp (RTX) -0.3% (20d: +3.7%)

Sector Deep Dive

Infrastructure: Infrastructure led sector averages today with a 2.4% gain across the group, reflecting direct capital spending and data center buildouts. Vertiv (VRT) $102.06 jumped 4.8% and sits above its 50-day trend, Super Micro (SMCI) $42.00 added 3.6% and is trading with a positive 50-day context, and Hewlett Packard Enterprise (HPE) $19.65 climbed 2.8% also above the 50-day. Over the 50-day window the sector shows constructive performance, and the intra-sector leadership reinforces a hardware- and deployment-driven leg of the AI cycle.

Enterprise Software: The Enterprise Software average rose 2.0% as buyers favored recurring-revenue names tied to AI and cloud services. Salesforce (CRM) $275.95 led with a 3.2% gain and is above its 50-day trend, while Palantir (PLTR) $37.49 added 2.8% and remains supported over the 50-day window. Over the 50-day horizon the sector has posted a solid advance (+17.2% vs. 50-day), confirming that software vendors are capturing incremental enterprise spend on AI tooling and deployments.

Chip Supply Chain & Equipment: Chip Supply Chain climbed 1.1% with Chip Equipment up 1.8%, signaling renewed appetite for parts of the semiconductor ecosystem tied to AI compute buildouts. Despite Intel (INTC) $22.39 dipping 1.3% and trading near mixed 50-day dynamics, the broader 50-day trend for Chip Equipment remains constructive even as some subsegments lag. Given the 50-day window as the primary frame, the supply chain is showing selective strength, supporting continued investment in capacity and process tools.

Airlines & Travel: Airlines lagged after a down day, with the Airlines average off 1.9% while Hospitality & Travel held a modest 0.8% gain, highlighting mixed demand signals in travel. Delta (DAL) $47.31 led the decliners, dropping 3.1% and testing shorter-term support even though the 50-day trend for broader travel remains above. Over the 50-day window Airlines are still positive (+17.1% vs. 50-day) but today's weakness suggests cyclical sensitivity to near-term data and fuel/operational factors.

Market Breadth Analysis

US stock market breadth analysis shows 19 of 28 sectors trading above their 50-day moving average, while 9 are below. The majority of sectors holding above the 50-day MA indicates healthy medium-term momentum. With 25 sectors positive over 20 days, buying pressure remains broad-based.

Interactive Charts

S&P 500, NASDAQ 100 & Dow Jones (%)

Green shading marks breadth-below-50% regimes: BUY at the 5th session (vertical line on the fire day), STRONG at the 10th (darker). A 3rd day back above 50% ends the regime; tolerated recovery days still count toward the session total. Research display only — not investment advice.

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 $118.66 +1.6% -4.2% +10.9% +4.0% ABOVE 0
AAPL $224.90 +0.3% -0.3% +2.0% +3.8% ABOVE 0
AMZN $184.76 -0.2% -3.3% +3.9% +2.2% ABOVE 6
META $569.53 -0.6% +0.9% +10.9% +24.3% ABOVE 1
GOOG $166.26 -0.7% +2.1% +5.6% -3.9% ABOVE 1
MSFT $410.64 -0.8% -3.3% +2.1% -2.8% BELOW 2
TSLA $249.02 -3.5% -2.0% +8.2% +15.3% ABOVE 2
Chip Supply Chain Show individual tickers
Ticker Price 1D 5D 20D 50D vs 50MA Down Days
MRVL $71.65 +2.5% -1.9% +3.1% +12.0% ABOVE 0
TSM $172.02 +2.2% -5.9% +7.8% +10.4% ABOVE 0
AVGO $168.06 +1.9% -4.2% +12.0% +13.1% ABOVE 0
QCOM $162.13 +1.5% -2.5% +2.8% -6.6% ABOVE 0
AMD $159.78 +0.0% -4.6% +14.6% +10.5% ABOVE 0
INTC $22.39 -1.3% -6.4% +15.4% -28.9% ABOVE 4
Memory & Storage Show individual tickers
Ticker Price 1D 5D 20D 50D vs 50MA Down Days
STX $105.45 +0.7% -2.0% +8.4% N/A N/A 0
WDC $50.05 -0.4% -5.6% +6.2% N/A N/A 4
MU $99.23 -0.5% -9.1% +11.7% N/A N/A 4
EDA & Semiconductor IP Show individual tickers
Ticker Price 1D 5D 20D 50D vs 50MA Down Days
CDNS $267.01 +1.4% -2.6% +6.4% N/A N/A 0
ARM $137.03 +0.7% -8.1% +11.3% -13.1% ABOVE 0
SNPS $496.82 +0.3% -3.6% +4.4% N/A N/A 0
Infrastructure Show individual tickers
Ticker Price 1D 5D 20D 50D vs 50MA Down Days
VRT $102.06 +4.8% +1.6% +36.1% +30.2% ABOVE 0
SMCI $42.00 +3.6% +4.4% +1.3% -41.0% BELOW 0
HPE $19.65 +2.8% +0.7% +17.0% +3.0% ABOVE 0
CSCO $50.56 +0.5% +0.3% +7.9% +13.2% ABOVE 0
DELL $110.03 +0.3% -10.3% +5.9% -2.5% ABOVE 0
AI Networking & Interconnect Show individual tickers
Ticker Price 1D 5D 20D 50D vs 50MA Down Days
COHR $91.46 +3.0% -1.0% +23.2% N/A N/A 0
ANET $97.40 +2.0% +0.9% +18.6% N/A N/A 0
APH $61.32 -2.3% -5.4% +0.7% N/A N/A 2
Enterprise Software Show individual tickers
Ticker Price 1D 5D 20D 50D vs 50MA Down Days
CRM $275.95 +3.2% +1.3% +13.7% +12.1% ABOVE 0
PLTR $37.49 +2.8% +1.1% +24.3% +40.9% ABOVE 0
NOW $176.08 +1.5% -0.5% +5.4% +20.5% ABOVE 0
ADBE $505.81 +0.6% -1.9% -10.9% -4.8% BELOW 0
ORCL $164.10 +0.3% -0.2% +17.6% N/A N/A 0
Finance Show individual tickers
Ticker Price 1D 5D 20D 50D vs 50MA Down Days
GS $475.17 +0.4% -1.0% +0.8% +1.7% ABOVE 0
JPM $198.93 +0.1% -1.2% -4.8% -0.6% BELOW 0
Healthcare Show individual tickers
Ticker Price 1D 5D 20D 50D vs 50MA Down Days
UNH $568.18 +1.5% +3.0% -0.2% +6.2% ABOVE 0
LLY $878.76 +0.7% -2.0% -2.4% +3.6% BELOW 0
Retail Show individual tickers
Ticker Price 1D 5D 20D 50D vs 50MA Down Days
COST $868.97 +0.1% -2.5% -0.8% +5.7% ABOVE 0
WMT $78.99 -1.0% +0.6% +4.5% +14.0% ABOVE 1
IT Services Show individual tickers
Ticker Price 1D 5D 20D 50D vs 50MA Down Days
ACN $342.79 +1.2% +0.1% +4.5% +8.4% ABOVE 0
IBM $208.28 +0.2% -1.7% +8.5% +19.6% ABOVE 0
Airlines Show individual tickers
Ticker Price 1D 5D 20D 50D vs 50MA Down Days
UAL $55.74 -0.7% -5.3% +23.5% +21.1% ABOVE 4
DAL $47.31 -3.1% -6.6% +14.8% +13.1% ABOVE 4
Hospitality & Travel Show individual tickers
Ticker Price 1D 5D 20D 50D vs 50MA Down Days
MAR $244.41 +1.1% -0.8% +8.6% +5.9% ABOVE 0
BKNG $162.73 +0.6% -3.4% +9.3% +8.6% ABOVE 0
Food & Restaurant Show individual tickers
Ticker Price 1D 5D 20D 50D vs 50MA Down Days
MCD $291.45 +0.3% +0.0% +5.5% +20.6% ABOVE 0
SBUX $91.76 -1.0% -1.0% +5.4% +29.3% ABOVE 2
Logistics Show individual tickers
Ticker Price 1D 5D 20D 50D vs 50MA Down Days
UPS $117.37 -0.2% -0.2% +4.4% +3.2% ABOVE 2
FDX $207.46 -1.0% +0.2% -6.0% -10.1% BELOW 2
Industrial Show individual tickers
Ticker Price 1D 5D 20D 50D vs 50MA Down Days
CAT $384.45 +0.4% +0.8% +18.1% +17.0% ABOVE 0
HON $193.64 -1.1% -1.5% +0.4% -4.3% ABOVE 3
Cybersecurity Show individual tickers
Ticker Price 1D 5D 20D 50D vs 50MA Down Days
CRWD $70.06 +1.8% -0.4% +9.3% +8.6% ABOVE 0
ZS $169.69 +1.6% -0.7% +4.6% -6.7% BELOW 0
PANW $166.07 +0.9% -1.9% -3.4% +2.4% BELOW 0
Chip Equipment Show individual tickers
Ticker Price 1D 5D 20D 50D vs 50MA Down Days
KLAC $76.58 +3.1% -3.4% +6.8% N/A N/A 0
LRCX $80.27 +2.1% -3.9% +8.0% -10.3% ABOVE 0
AMAT $197.98 +2.0% -4.0% +11.6% -2.5% ABOVE 0
ASML $818.47 +1.2% -2.4% +4.6% -4.6% BELOW 0
Data Center REITs Show individual tickers
Ticker Price 1D 5D 20D 50D vs 50MA Down Days
EQIX $849.68 +0.4% +0.9% +7.9% +11.7% ABOVE 0
DLR $151.77 -0.4% -1.5% +7.3% +6.0% ABOVE 2
AI Power & Grid Show individual tickers
Ticker Price 1D 5D 20D 50D vs 50MA Down Days
VST $124.14 +2.3% +9.8% +65.7% N/A N/A 0
PWR $298.55 +1.0% +1.0% +19.0% N/A N/A 0
ETN $320.23 +0.1% -1.5% +14.8% N/A N/A 0
CEG $262.32 -0.1% +3.4% +50.7% N/A N/A 1
GEV $251.23 -1.7% +0.4% +27.1% N/A N/A 1
Utilities Show individual tickers
Ticker Price 1D 5D 20D 50D vs 50MA Down Days
SO $85.79 +0.8% +3.0% +2.3% +10.8% ABOVE 0
DUK $108.70 +0.4% +1.3% -0.1% +7.5% ABOVE 0
NEE $81.14 +0.2% +2.4% +6.3% +14.0% ABOVE 0
Energy Show individual tickers
Ticker Price 1D 5D 20D 50D vs 50MA Down Days
XOM $113.98 +1.3% +7.7% +7.4% +5.8% ABOVE 0
CVX $138.93 +0.8% +6.3% +7.1% -2.4% ABOVE 0
Defense & Aerospace Show individual tickers
Ticker Price 1D 5D 20D 50D vs 50MA Down Days
RTX $119.82 -0.3% +3.1% +3.7% +18.6% ABOVE 1
LMT $575.46 -0.4% +4.5% +6.1% +17.7% ABOVE 1
GD $292.52 -0.5% +1.1% +2.2% +6.8% ABOVE 1
Telecom Show individual tickers
Ticker Price 1D 5D 20D 50D vs 50MA Down Days
TMUS $202.07 +1.0% +2.4% +5.5% +18.0% ABOVE 0
T $20.24 +0.3% +2.5% +7.5% +15.8% ABOVE 0
VZ $39.51 -0.4% +1.0% +9.1% +13.6% ABOVE 1
Media & Entertainment Show individual tickers
Ticker Price 1D 5D 20D 50D vs 50MA Down Days
NFLX $71.11 +0.7% -0.0% +4.0% +11.8% ABOVE 0
DIS $92.00 +0.1% -1.1% +6.2% +4.8% ABOVE 0
Biotech Show individual tickers
Ticker Price 1D 5D 20D 50D vs 50MA Down Days
GILD $80.76 +1.0% +2.0% +8.6% +16.4% ABOVE 0
AMGN $301.03 -0.2% +0.2% -1.4% -4.6% BELOW 3
Materials Show individual tickers
Ticker Price 1D 5D 20D 50D vs 50MA Down Days
LIN $465.06 +0.2% -1.2% +2.2% +7.5% ABOVE 0
APD $277.27 -0.5% -2.6% +6.6% +12.1% ABOVE 3
Analog & Embedded Chips Show individual tickers
Ticker Price 1D 5D 20D 50D vs 50MA Down Days
ADI $221.79 +1.8% -2.0% +4.0% N/A N/A 0
MCHP $74.05 +0.9% -2.6% +1.9% -9.7% BELOW 0
TXN $192.51 +0.9% -2.8% +0.9% +2.7% ABOVE 0

Key Stock Movers

Today's biggest movers by absolute percentage change: Vertiv (VRT) (Infrastructure) rose 4.8% to $102.06. Super Micro (SMCI) (Infrastructure) rose 3.6% to $42.00. Tesla (TSLA) (Mag 7 (AI Spenders)) fell 3.5% to $249.02. Salesforce (CRM) (Enterprise Software) rose 3.2% to $275.95. KLA (KLAC) (Chip Equipment) rose 3.1% to $76.58. These individual stock movements were key drivers of their respective sector performance.

Risk and Opportunity Assessment

No high-severity risk alerts are active. Market conditions are favorable, but always maintain awareness of potential profit-taking after extended rallies. Sector diversification remains important to manage concentration risk.

US Stock Market Outlook

Looking ahead, breadth remains constructive with 18 sectors above their 50-day moving averages and six below, signaling favorable market internals even as alert counts remain muted and volatility is contained. The 50-day trends favor cyclical capex and software exposure, so positioning should emphasize select Infrastructure and Enterprise Software winners while trimming positions in lone Mag 7 names that are below their 50-day trend, such as Microsoft (MSFT) $411.42. Monitor chip-supply signals and any uptick in alert activity; if more than a handful of sectors roll below their 50-day, shift to defensive cash or hedges. For now, a tactical overweight to AI-related infrastructure and high-quality enterprise software is warranted with disciplined stops.

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