Beneath the Market’s Calm, Risk-On Rotations Are Taking Shape
MarketPulse | Jul 10, 2025 02:09AM ET
Tech was in focus in yesterday's session, particularly throughout the last few hours as NVIDIA (NASDAQ:NVDA) just hit the $4 trillion market cap and Bitcoin, Ethereum rallied consequently.
Sentiment still shows a few signs of hesitation, particularly with disappointing Prime Day numbers dragging Consumer defensive stocks down relative to other sectors.
European stocks are to be monitored as they have had consecutive positive days above 1.50%, led by the German DAX.
In terms of Commodities, softs had a decent performance led by Cocoa, Sugar and Lumber – in terms of more commonly traded commodities though, US Oil and Gold are almost completely unchanged.
Daily Cross-Asset Performance
Cross-Asset Daily Performance, July 9, 2025 – Source: TradingView
Ethereum once again is on top of major assets daily performance – you can check out our latest ETH analysis for the crypto, which was way overdue.
A Picture of Yesterday's Performance for Major Currencies
Currency Performance, July 9 – Source: OANDA Labs
Almost all currencies are closed to unchanged, rangebound on the session – Despite the Canadian Ivey PMI coming again above the expansion level, Loonie bulls seem to be taking profits after the consecutive weeks of decent CAD performance.
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