September 10 was very reminiscent of the mega-cap market from parts of 2023 and 2024, when just a handful of monster stocks dragged the major indices higher, while most other stocks waded in choppy water. While the biggest sector winner was Real Estate (XLRE), with a 1.8% gain, Information Technology (IT) was second, rising 1.5%, and Consumer Discretionary was third, adding 1.2%. Within IT, software rose 1.9% on the back of Oracle's 11% surge following better-than-expected quarterly results. Semiconductors also got a little mojo back, rising a bit more than 3% as Broadcom popped 5.3% and Advanced Micro added 3.4%. Autos led in discretionary as Tesla ripped 4.6% while the next 10 autos by market cap all fell. On the flipside, Financial gave up 1%, led by a 5.2% drubbing in the largest bank, JP Morgan. Energy was the weakest sector, as crude oil fell another 3.5% to $66.30/barrel and the lowest close for WTI since late 2021. Exxon led Energy to the downside, falling 3.6%. While the S&P 500 gained 0.5%, the Nasdaq rose 0.8%, Nasdaq 100 was up 0.9%, small- and mid-caps did little, and NYSE breadth was flat. Bonds continue to rally as the 10-year yield fell to 3.65%, the lowest level since June 2023