The NASDAQ index fell sharply in trading today, while the Dow Industrial average moved higher. The S&P index also moved lower.
There is a rotation out of big cap tech and the industrials during trading today
A snapshot of the final market levels shows:
- Dow industrial average rose 92.76 points or 0.28% at 33666.05
- S&P index fell -16.25 points or -0.38% at 4267.61
- NASDAQ index fell -171.53 points or -1.29% at 13104.89
The small-cap Russell 2008 had another solid day with a gain of 1.78%. It is up 8.76% since bottoming on May 11 (5 trading days).. The close today was the highest since early March.
Looking at the recent big-cap tech/AI stocks, they tumbled lower in trading today:
- Nvidia fell $-11.69 or -3.02% to $374.85
- Google fell $4.77 or -3.74% to $122.55
- Microsoft fell $-10.22 or -3.06% to $323.46
- Adobe fell $-14.35 or -3.31% to $418.54
Looking at the Dow stocks:
- Caterpillar rose 3.97%
- 3M rose 2.83%
- Goldman Sachs rose 2.77%
- Dow rose 2.45%
- Boeing rose 2.28%
- Home Depot rose 1.95%