Mega-cap tech has faded from morning highs, dragging the market lower as Apple slid >1% and Nvidia reversed earlier gains. Yield-sensitive Utilities and Energy are leading the defensive bid, bucking the broader weakness as Treasury yields hit session lows.
US market temperature sits in neutral territory — driven mainly by elevated valuations (around the 77th historical percentile), with breadth near the middle (around the 57th historical percentile). No single catalyst stood out today; the market is searching for a fresh direction.