EB Daily Market Report - Brief Update - Thursday, July 17, 2025

It's been a mostly solid day for U.S. equities. Key aggressive areas are leading today's advance as financials (XLF, +0.95%), technology (XLK, +0.92%), and industrials (XLI, +0.89%) are the 3 leading sectors. Asset managers ($DJUSAG, +2.81%) and banks ($DJUSBK, +1.44%) are powering the financial space higher.

June retail sales came in much better than expected, +0.6% (actual) vs. +0.1% (estimate), and initial jobless claims were well below expectations for the 2nd straight week, underscoring the resiliency of the economy. Despite the economic strength, the 10-year treasury yield ($TNX) is nearly flat after some volatility earlier in the session.

Technically, all of our major indices have shown strength off the selling from Tuesday, which slightly pierced rising 20-day EMA support on the small cap Russell 2000 and approached that same moving average on the S&P 500 and NASDAQ 100. It is options-expiration week, which can be a challenging week for sure, and the historical calendar tells us that price action from the July 17th close through July 23/24 tends to be challenging as well. However, I don't like to argue with price action, which remains quite bullish.

After today's close, we'll get the latest quarterly results from Netflix (NFLX), which can be a big market mover, especially on the more aggressive NASDAQ 100 index.

We'll be back tomorrow with the latest market action.

Happy trading!

Tom