XLE's 27% YTD surge leads the sharpest sector divergence since 2022, as Brent above $103 rewards energy while rising yields compress tech valuations ahead of Wednesday's FOMC decision.
XLE up 27% YTD as Brent crude holds above $103, driving the sharpest US sector divergence in years. Tech compresses under 4.27% Treasury yields as the FOMC convenes.
S&P 500 at 6,632 faces its biggest week: FOMC rate decision Wednesday, Nvidia GTC keynote Monday, PPI data, and Brent crude above $100 on Iran war uncertainty.
IEA's record 172M-barrel emergency release failed to keep Brent below $100 as Iran kept the Strait of Hormuz closed and consumer confidence fell to a 2026 low.
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