Daily Chart Report ? Wednesday, September 29th, 2021

Today’s Summary
Wednesday, September 29th, 2021

Indices: US Stocks were little changed in today's session, with the Dow rising 91 points or 0.26%. The S&P 500 inched higher by 0.16%, while the Nasdaq slipped 0.24%. The Russell 2000 underperformed, falling 0.20%.

Sectors: 7 of the 11 sectors closed higher. Utilities led, gaining 1.31%, after falling for 14 consecutive days. Materials lagged, falling 0.41%.

Commodities: Crude Oil futures moved lower by 0.70% to $74.46 per barrel. Gold futures fell 0.66% to $1,726 per ounce.

Currencies: The US Dollar Index jumped 0.76% to a 1-year high.

Interest Rates: The 10-year US Treasury yield ended a four-day winning streak, falling to 1.520%

Here are the best charts, articles, and ideas being shared on the web today!

Chart of the Day

Today’s Chart of the Day was shared by Strategas Research (@StrategasRP). It's a chart of the Fintech ETF, $ARKF, along with its performance relative to traditional Bank stocks below ($KBW). The top holdings in $ARKF include Square ($SQ), Shopify ($SHOP), Coinbase ($COIN), Zillow ($Z) and PayPal ($PYPL). Strategas points out that this group of sexy fintech stocks is breaking down below its 50-day and 200-day moving averages. At the same time,  boring old traditional Bank stocks have been outperforming for the majority of this year, and look poised to continue doing so. This is a good example of the effect that rising rates are having on Growth stocks, like the ones in $ARKF. As rates move higher, Growth stocks look less attractive to Value-oriented stocks like traditional Banks. We keep hearing Financials "should" do well in a rising rate environment, and that's true, but it's important to be selective within the group.

Quote of the Day

"The more a man really knows about speculation, the less certain he becomes in regard to any market movement."

- Charles H. Dow