Semiconductors surge as tariff reset reshapes materials and crushes energy.
A day that looked like broad relief buying was actually a bifurcated policy-transmission event, and investors who own the wrong side of the tariff ledger felt it immediately.
Semiconductors and storage led a broadly positive session as 8 of 12 sectors gained, with Materials, Industrials, and Technology topping the tape while Energy fell sharply on crude weakness, dropping 2.33% on the day against a confirmed five-session losing streak of 1.69%.
Since the last briefing
Yesterday the committee shifted to a cautious pro-cyclical stance, favouring quality industrials and confirmed-momentum materials over defensives while refusing to chase tape-grade technology names until the five-session trend repaired.
What drove the session and how it transmitted, the exposure table by persistence grade, where the committee disagreed, its verdict and weighting, and the falsifiers that would prove it wrong.