The headline read was uneasy. The names a level down matched it.
The top two bands hold roughly 40.9% of the 2,667 banded names, in line with the recent 41%. Of that hot cohort, 60.7% are still widening, not leveling off. Concentrated, not broad. Technology at 78%, Industrials at 68%, Materials at 67%.
Turbulence is range, not direction. So it doesn’t say which way this breaks. It says where the movement is: a few corners, name by name, not a market-wide slide.
Around the market, inflation is still sticky (CPI 3.5%, core PCE 3.3%), the yield curve is positive, credit spreads stay tight, unemployment holds near 4.2%, jobless claims have eased, and oil has moved lower.
| sector | names in the top two bands | share still widening |
|---|---|---|
| Health Care | 364 | 44% |
| Information Technology | 234 | 78% |
| Industrials | 158 | 68% |
| Consumer Discretionary | 115 | 63% |
| Materials | 64 | 67% |
| Financials | 44 | 61% |
Descriptive, not advice. This is the public read. The full edition, with what changed since yesterday, the named company highlights, and the searchable archive, is in the app.