Flow of funds moves into Dow and small cap stocks. Nasdaq lags | Forexlive
The market rotated out of the large/mega-cap tech stocks today. Markets got a little spooked by better than expected JOLT job openings and the realization that July is probably not a month for a rate cut.
Some recent gainers were hit hard today.
- Nvidia -2.69%
- Broadcom -3.82%
- SuperMicro Computer -3.14%
- AMD -3.71%
- Meta -2.42%
- Palantir -4.27%
- Palo Alto Networks -3.33%
Meanwhile, the Dow stocks shined with the following 15 Dow stocks rising by 1.25% or more
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UnitedHealth (UNH): +4.38%
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Amgen (AMGN): +4.11%
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Sherwin-Williams (SHW): +3.73%
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Merck & Co (MRK): +3.25%
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Nike (NKE): +3.19%
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Honeywell (HON): +2.53%
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Johnson & Johnson (JNJ): +2.02%
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McDonald’s (MCD): +1.97%
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Home Depot (HD): +1.93%
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Chevron (CVX): +1.61%
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Coca-Cola (KO): +1.38%
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3M (MMM): +1.34%
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Apple (AAPL): +1.39%
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American Express (AXP): +1.31%
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Procter & Gamble (PG): +1.24%
The final numbers for the major indices are showing:
- Dow industrial average rose 400.29 points or 0.91% at 44495.06
- S&P index -6.90 points or -0.11% at 6198.05
- NASDAQ index -166.84 points or -0.82% had 20202.89
- Russell 2000 rose 20.43 points or 0.94% at 2195.46
The day was clearly rotational which is ok as it implies a growing economy, but there is some selling of the rich and buying the less fortunate/poor.
Two days of record closes in the S&P and Nasdaq come to an end.
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