Brent Breaks $116: Oil Hits a Fresh Extreme as Hang Seng and Gold Slide
Here’s where the key indicators sit versus their own history, plus the best and worst movers across companies and industries — and the risk and growth factors that may sit behind them. We don’t tell you what to do. We just show you what the data says, then close each section with a quick Read: the possible drivers, and what they could mean.
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01 · COMPANIES
Movers Above $10B Market Cap
▲ LEADERS
1 WEEK
- Charles River Laboratories — +15.98%
- Okta Inc — +11.42%
- Nasdaq Inc — +10.84%
YEAR TO DATE
- Halozyme Therapeutics Inc — +78.41%
- Ternium SA ADR — +46.39%
- Williams-Sonoma Inc — +36.64%
YEAR ON YEAR
- DigitalOcean Holdings Inc — +135.39%
- Synnex Corporation — +63.65%
- LyondellBasell Industries NV — +51.47%
Capnote tip: common growth factors among top YTD names include positive EBITDA margin, revenue growth from last year, and positive profit margin.
▼ LAGGARDS
1 WEEK
- DexCom Inc — -8.91%
- General Motors Company — -8.02%
- Cerebras Systems Inc. Class A Common Stock — -7.26%
YEAR TO DATE
- Charter Communications Inc — -49.10%
- Ryanair Holdings PLC ADR — -26.43%
- Ferrovial SE — -22.13%
YEAR ON YEAR
- Boston Scientific Corp — -54.77%
- Infosys Ltd ADR — -28.17%
- Xylem Inc — -24.44%
Capnote tip: common risk factors among these YTD laggards include competition intensity & availability of substitutes, change in customer demand or preferences, and macroeconomic decline or recession.
THE READ
Possible drivers: Charles River Laboratories led the week by a wide margin (+15.98%), with Okta and Nasdaq also posting double-digit gains — a mix with no obvious shared sector theme. Charter Communications’ YTD loss deepened further to -49.10% (from -47.37% two weeks ago), extending its multi-week slide at the top of the YTD laggard board. Halozyme Therapeutics holds the top YTD spot for a third straight week, now at +78.41%.
What it could mean: Charter’s steady, continuing YTD decline over several consecutive weeks is one of the more persistent single-company trends we’ve tracked this quarter. Halozyme’s repeated presence atop the YTD board, growing each week, is one of the more durable leadership stories in this bracket right now.
02 · COMPANIES
Movers Below $10B Market Cap
▲ LEADERS
1 WEEK
- Braze Inc — +55.69%
- Myriad Genetics Inc — +39.95%
- First Tracks Biotherapeutics — +24.11%
YEAR TO DATE
- Day One Biopharmaceuticals Inc — +144.84%
- Amylyx Pharmaceuticals Inc — +135.29%
- Relay Therapeutics Inc — +125.45%
YEAR ON YEAR
- Andersen Group Inc. — +295.99%
- OmniAb Inc. — +193.97%
- Forge Global Holdings Inc — +179.67%
Capnote tip: common growth factors among top YTD names include return on invested capital expansion, revenue growth from last year, and net margin expansion from last year.
▼ LAGGARDS
1 WEEK
- Arcus Biosciences Inc — -18.48%
- Suja Life, Inc. Class A Common Stock — -16.09%
- MiMedx Group Inc — -15.58%
YEAR TO DATE
- Suja Life, Inc. Class A Common Stock — -97.39%
- Evolution Metals & Technologies Corp. Common Stock — -80.82%
- Capricor Therapeutics Inc — -80.42%
YEAR ON YEAR
- Suja Life, Inc. Class A Common Stock — -97.39%
- Verra Mobility Corp — -87.47%
- SL Science Holding Limited Ordinary Shares — -86.25%
Capnote tip: common risk factors among these YTD laggards include competition intensity & availability of substitutes, macroeconomic decline or recession, and negative profit margin.
THE READ
Possible drivers: Braze’s +55.69% weekly gain is the largest single-week move we’ve tracked in this bracket in recent weeks. Day One Biopharmaceuticals holds the top YTD spot for a fourth straight week running, unchanged at +144.84%. Suja Life appears on the weekly, YTD, and YoY laggard lists simultaneously, a full sweep across all three windows.
What it could mean: Day One Biopharmaceuticals’ flat, unchanged YTD figure across multiple weeks is worth a quick sanity check against the source data, since a static reading over several weeks is unusual even for a stable leader. Suja Life’s sweep across all three windows, combined with its near-total YTD and YoY loss, suggests its decline has been sustained and severe rather than a recent development.
03 · INDUSTRIES
Industry Performance
Weighted-average market cap of listed companies using Capnote’s proprietary groupings.
▲ HIGHEST PERFORMING
1 WEEK
- Refining & Smelting — +36.58%
- Toys — +9.44%
- Data Management — +8.22%
YEAR TO DATE
- Refining & Smelting — +54.63%
- Accounting — +54.27%
- Computer Hardware — +53.51%
YEAR ON YEAR
- Refining & Smelting — +88.62%
- Operator — +64.22%
- Data Management — +52.45%
Capnote tip: common growth factors among top YTD industries include macroeconomic stability & growth, product or service characteristics & qualities, and capital markets access.
▼ LOWEST PERFORMING
1 WEEK
- Pets — -6.08%
- Children — -3.74%
- Drilling & Mining — -3.09%
YEAR TO DATE
- Recycling — -39.10%
- Children — -27.56%
- Energy Storage — -26.77%
YEAR ON YEAR
- Recycling — -52.58%
- Children — -43.34%
- Energy Storage — -34.05%
Capnote tip: common risk factors among these YTD laggard industries include competition intensity & availability of substitutes, macroeconomic decline or recession, and reputation or brand decline and impairment.
THE READ
Possible drivers: Refining & Smelting now leads all three windows for a third consecutive week, and its weekly gain accelerated again to +36.58% (from +32.21% the week before), tracking directly with Brent crude’s climb to $116.63. Recycling and Children both continue sweeping the YTD and YoY laggard boards for another week running.
What it could mean: Refining & Smelting’s third straight week of acceleration across every window is now one of the clearest, most sustained trends in this entire dataset, moving in lockstep with crude’s own climb into Very High territory. Recycling and Children’s continued dominance of the YTD and YoY laggard lists, week after week, points to entrenched rather than temporary weakness in both.
04 · INDICATORS
Where the Big Levels Sit
Positions vs. a 5-year moving average. Level reflects standard deviations from the mean.
| Indicator | 1W % | Last | Level |
|---|---|---|---|
| US 10Y Treasury | -1.65 | 5.00 | High |
| S&P 500 | -0.47 | 7,623.68 | Very High |
| Hang Seng | -4.52 | 23,093.37 | High |
| Crude Oil (Brent) | +6.16 | 116.63 | Very High |
| US Dollar Index (DXY) | -0.08 | 101.75 | Average |
| Gold | -4.09 | 4,010.00 | High |
| Bitcoin | -0.52 | 80,701.62 | High |
THE READ
Possible drivers: Crude Oil (Brent) jumped 6.16% to $116.63 this week, pushing it from High into Very High territory for the first time in the weeks we’ve tracked. Hang Seng fell sharply (-4.52%), its steepest weekly decline recently, while Gold also dropped 4.09%. The US 10-year Treasury yield eased further (-1.65%) to 5.00%, its third straight weekly pullback, and the S&P 500 slipped modestly (-0.47%).
What it could mean: Oil’s move into Very High territory, alongside Hang Seng’s sharp drop and gold’s decline, suggests markets may be pricing in inflationary pressure from energy costs rather than a broader flight to safety — gold typically rises, not falls, during risk-off moves. Yields continuing to ease for a third straight week, even as oil surges, is a combination worth watching closely for how long it holds.
05 · WEEKLY MOVERS
Biggest Indicator Swings
▲ GAINS SINCE LAST WEEK
- Milk · Average — +16.18%
- Turkey 10Y · High — +8.90%
- Crude Oil (Brent) · Very High — +6.16%
- Baltic Dry · High — +5.93%
- France 10Y · Very High — +5.25%
▼ LOSSES SINCE LAST WEEK
- Switzerland 10Y · Average — -8.25%
- Oat · Average — -6.60%
- Palladium · Low — -6.00%
- Silver · High — -5.84%
- Wheat · Average — -5.37%
THE READ
Possible drivers: Switzerland 10Y posted another sizable move (-8.25%), continuing the volatility in that series we’ve flagged in recent weeks, though smaller in magnitude than its prior swings. Crude Oil (Brent) appears again among the week’s biggest gainers, confirming its move into Very High territory wasn’t a brief spike. Silver fell 5.84%, its third decline in four weeks, moving alongside gold’s own drop this week.
What it could mean: Silver’s repeated declines across most of the past month, now falling in step with gold again this week, suggests the precious metals pullback we flagged earlier has resumed after a brief rebound. Switzerland 10Y’s continued, if smaller, volatility keeps it worth watching as a possible data quality issue rather than a genuine signal.
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Market Trend Monday is provided for information only and reflects what the data shows. It is not investment advice, nor a recommendation to buy or sell any security. Figures are drawn from Capnote’s data and methodology and may differ from other sources. Always do your own research.