Intraday Market Update - November 18, 2025 (Noon EST)

The U.S. market is slightly negative mid-session (noon EST) with major indices down: S&P500 (-0.19%), Nasdaq (-0.37%), Dow (-0.55%) [0]. Sector rotation is evident: energy (+0.86%) and utilities (+0.50%) lead gains, while tech (-1.40%) and consumer cyclical (-0.79%) lag [1]. Key catalysts include a Fed policy divide as economic data resumes post-43-day shutdown [2], with delayed data (September jobs, CPI/PPI) releasing this week [3]. Unusual options activity includes bullish calls on META ($600 strike, March2026) and bearish puts on MSTR ($194 strike, Jan2026) [4].

1. Fed Policy Impact
   : The divide over rate cuts is driving rotation from growth (tech) to defensive/energy sectors, as investors seek rate-sensitive or commodity-linked assets [1,2].
2. Data Resumption Uncertainty
   : Delayed economic data releases post-shutdown are adding volatility, with market participants adjusting positions ahead of key reports [3].
3. Options Sentiment
   : Unusual options activity suggests investor bullishness on META and bearishness on MSTR, indicating sector-specific sentiment shifts [4].

• Volatility from delayed economic data releases [3].
• Fed policy uncertainty potentially impacting growth stocks [2].

• Energy sector momentum amid inflation concerns [1].
• Defensive sectors (utilities, financials) as safe-haven plays during policy uncertainty [1].

Mid-session market performance shows slight declines across major indices, with energy leading and tech lagging. Fed policy division and resuming economic data are key drivers of sector rotation. Unusual options activity highlights investor sentiment shifts. Afternoon catalysts include Commercial Paper data at 1pm EST [6].