Welcome to Markets Desk, here's what's moving markets right now.
Thursday was a brutal session for the technology sector, with the Magnificent Seven collectively shedding roughly one trillion dollars in market value. The selloff was sharp and broad, hitting the largest names in the index hard and raising fresh questions about stretched valuations in a still-elevated rate environment.
Shifting to a pocket of relative strength, home builders have quietly become one of the more interesting post-midterm trades. D.R. Horton, PulteGroup, and Lennar have all outperformed since Tuesday's results came in. Investors appear to be betting that a divided or reshuffled Congress reduces the risk of policy disruption to housing finance and mortgage rate relief could eventually follow.
And on the tax planning front, the IRS has released its two thousand twenty seven brackets, adjusted roughly three point two percent higher for inflation. The standard deduction climbs to thirty-three thousand two hundred dollars. For investors weighing Roth conversion strategies, the new thresholds change the math meaningfully, though as one analyst put it, the smarter question isn't how much to convert, it's whether to convert at all.
That's the tape. Markets Desk, signing off the floor.
