NDW Morning Pulse – July 9, 2026.

• Crude Oil (CL/) was up 4.37% through yesterday's close. Although still up almost 30% year-to-date, the contract has down well below its all-time highs from earlier this year.
• Emerging markets also ticked higher over the past day. The iShares MSCI Emerging Markets ETF ([EEM]) sits on six consecutive buy signals and is up over 20% YTD.
• Since the healthcare sector moved to overweight territory two weeks ago in our DALI sector rankings, the sector has continued to tick higher, gaining 9 signals this month alone. Consumer staples have also gained 9 signals this month, as more defensive areas of the market continue to show strength.
• The percent positive for the healthcare sector ([^PTECHEALTH]) also crossed back up above 30% in its chart level for the second time since late 2021, highlighting an increase in long-term strength for the sector as a larger percentage of stocks are now contributing to the upside.
• Fed funds futures imply a 64.1% chance of a rate hike at the September 16, 2026 FOMC meeting, suggesting that market participants increasingly expect the Federal Reserve to raise rates.