📊 Fed Holds, Hard Assets Lead

Good Morning Investors,

Sector leadership leaned clearly toward resources and select technology. Mining and commodity benchmarks advanced sharply as investors rotated into hard asset exposure, lifting commodity focused juniors.

Semiconductor strength also stood out, providing a supportive backdrop for smaller technology suppliers tied to chips and infrastructure. The combination suggests investors are still willing to take risk, but only in areas with tangible demand drivers rather than across the entire small cap universe.

The Federal Reserve kept policy unchanged and reinforced a cautious, data dependent stance with inflation control still the priority. That tone supports selective risk taking but stops short of signaling an all clear for smaller companies.

Commodity linked juniors and resilient technology names look best positioned, while overall breadth will likely hinge on upcoming economic data and any shift in rate expectations.

Matthias Schneider
Editor at Analytica Investor