Target rose 2.26% to $159.35 and Costco Wholesale gained 1.45% to $917.91 Monday, with consumer-facing retailers outperforming a declining market even as crude oil climbed 2.80% — a resilience that complicates the stagflation narrative.
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us-marketsNorthrop Grumman rose 1.84% to $528.51 and Lockheed Martin gained 1.05% to $529.70 Monday as a nearly 3% surge in crude oil and a steeply backwardated forward curve pointed markets toward a supply disruption with geopolitical roots.
commoditiesCopper futures fell 2.63% to $6.376 per pound Monday and Caterpillar declined 3.94% to $786.31, a paired move in the two most reliable barometers of industrial activity that undercuts the reflationary reading of the day's oil rally.
commoditiesValero Energy fell 1.25% to $385.53 Monday after swinging between $375.10 and $399.76, as a 2.80% surge in crude oil raised acute questions about how much of the input cost refiners can pass through to product prices.
commoditiesSLB dropped 3.68% to $54.00 and Halliburton fell 2.53% to $34.94 Monday even as crude oil surged 2.80% — a divergence that reveals the market is pricing a supply disruption rather than a new upstream capital-spending cycle.
us-marketsAdobe gained 4.27% to $262.99 and Salesforce rose 3.66% to $256.78 Monday while semiconductor names fell sharply — a rotation that favors asset-light software over the capital-intensive infrastructure funding the artificial-intelligence buildout.
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