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Breakfast Bites - Market sell-off takes a breather
Middle East tensions escalate; IEA oil report; TSMC earnings; Stocks to watch
Rise and shine everyone.
Markets are taking a bit of a breather, after the “global” sell-off yesterday. What’s clear though is that investors are looking for quality amid uncertainty. We’re back to seeing the Mag 7 lead again, over the Russell 2000. The chart below is a comparison of the ETFs - MGC vs. IWM. Until December, the Mag 7 underperformed the IWM, but the tables have turned back again since January.
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/60cfdf8a-ea14-4a9f-aab9-75b223083616/MGC_vs_IWM_17_Jan_2024.png?t=1705578878)
![](https://media.beehiiv.com/cdn-cgi/image/format=auto,onerror=redirect/uploads/publication/logo/cb8369b6-04e7-42a4-b87b-2282ade7d4c6/thumb_mv_no_text.png)
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