Tech rotation and defensive surge shape S&P 500

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Summary · why it matters

Friday's S&P 500 heatmap highlighted a stark rotation, with semiconductors suffering heavy losses while software and defensive sectors posted strong gains. Within information technology, hardware and chipmakers plunged, led by Western Digital down 13.2%, Seagate sinking 12.2%, and SanDisk dropping 10.5%, while mega-cap tech and software anchored the broader market as Microsoft surged 5.7% and Apple added 3.1%. The health care sector provided robust defensive leadership, with Eli Lilly leaping 7.1% and AbbVie gaining 4.2%. Consumer discretionary also showed solid strength, boosted by Netflix climbing 4.1% and Amazon rising 2.5%. Conversely, industrials faced headwinds, with Caterpillar dropping 5.6%, and major bank financials bled, underscored by a 4.3% slide in Goldman Sachs.

Impact on assets 11

Artificial Intelligence▲ · 3 stocks
Biotech & Genomic Medicine▲ · 2 stocks
Cloud & Digital Infrastructure▲ · 2 stocks
Energy Transition & Power Demand▲ · 1 stocks
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