Sector Synopsis: Markets digested a broad mix of retail strength, energy policy shifts, and renewed speculation around Fannie and Freddie’s future. Retail apparel bounced on earnings, while solar names sold off on tax concerns. The energy complex awaits OPEC+ decisions, and financials surged behind crypto strength and GSE headlines. Tech continues its AI rally, offsetting drag from select medtech and managed care under pressure from regulatory moves.

Retail, Consumer Staples & Restaurants: Urban Outfitters delivered a strong quarter with comp growth across all banners and a notable beat on margins, boosting peers AEO, ANF, and GAP. Nike confirmed a renewed partnership with Amazon, while Ralph Lauren hinted at price hikes. BJ’s topped on EPS but missed on revenue, and Target was downgraded on macro and execution concerns. Williams-Sonoma beat on comps but held a cautious 2025 revenue outlook.

Leisure, Autos & Lodging: Auto names saw gains after Advance Auto Parts narrowed losses and supplier Dana was upgraded on deal optimism. A Senate vote blocked California’s proposed gas vehicle ban. Planet Fitness was upgraded on join stability and comps outlook. In travel, cruise and hotel stocks drifted on light updates.

Energy: Solar names tumbled as the proposed GOP tax bill threatened to cut renewable incentives, especially the residential solar credit. OPEC+ reportedly considering a July output hike, with speculation of broader production increases through year-end. Energy names broadly weakened on the headlines.

Financials: Fannie and Freddie surged after Trump suggested taking them public. Bitcoin hit a new record near $112K, buoying miners and fueling Kraken’s plans to tokenize stock trades outside the U.S. Meanwhile, Pagaya issued its first bond tied to Klarna BNPL loans. Chubb was downgraded, while FICO was defended amid regulatory scrutiny.

Biotech & Pharma: Sanofi acquired Vigil Neuroscience for up to $470M, and Pfizer licensed a new cancer drug from China’s 3SBio. Novo Nordisk rolled out new Wegovy pricing to coincide with a federal ban on compounded semaglutide. CMS unveiled an aggressive new Medicare Advantage audit strategy, pressuring managed care names.

Healthcare Services & MedTech: Citigroup reshuffled ratings in MedTech, backing Boston Scientific and Edwards while downgrading Becton Dickinson. Life science tools and CRO names remain under pressure from tariffs and administrative policy shifts, with DHR, EXAS, and GH emerging as favorites. Inogen was upgraded on turnaround progress.

Industrials & Materials: Enersys posted a strong quarter, though guidance fell short. Lennox expanded its buyback program by $1B. ZTO was downgraded on weak parcel pricing trends. Rocket Lab announced its next launch window, while ATI was downgraded on valuation. Celanese was upgraded on a better macro setup; Westlake was cut on weak PVC pricing.

Internet, Media & Telecom: Google shares extended gains after a strong I/O event featuring AI-powered glasses and premium subscription plans. Quantum computing names rallied in sympathy. Comcast reportedly submitted a lower bid than Disney for MLB media rights. AT&T announced a $5.75B fiber asset deal with Lumen.

Hardware, Software & Semiconductors: Snowflake topped earnings and raised guidance despite a slip in net revenue retention. Zoom nudged higher after a modest beat and FY raise. Domo and LiveRamp also impressed on key subscription metrics. Analog Devices boosted analog semis but the group later faded. Marvell was downgraded on competitive concerns, while Navitas jumped on news of collaboration with Nvidia.

Takeaway for Investors Intuit delivered a strong fiscal Q3 with revenue and margins beating expectations, led by strength in small business and Credit Karma. The company raised FY guidance and reiterated confidence in its GenAI rollouts across products. Execution remains solid, and AI integration continues to offer long-term upside.