Emerging markets also stood out, with $EEM up 1.6% and Brazil exceptionally strong via $EWZ at 12.5%. The tone was not universally cyclical, though; energy and metals participated, but financials remained mixed and real estate stayed weak, with $VNQ and $IYR both lower.

Market Observation for Sep 4:
Defensive and income-oriented areas were soft, with $XLP -0.80%, $XLV -1.04%, $VNQ -0.66%, and $IYR -0.72%.

Market Observation for Sep 4:
Defensive and income-oriented areas were soft, with $XLP -0.80%, $XLV -1.04%, $VNQ -0.66%, and $IYR -0.72%.