Headline: Dow Tops 48,000 as Rotation Into Blue Chips Persists; Tech Lags, S&P Flat
Introduction: U.S. stocks ended mixed as investors continued rotating out of high-growth tech and into blue-chip names. The Dow Jones Industrial Average notched a milestone close above 48,000, while the Nasdaq Composite slipped and the S&P 500 finished little changed.
The Dow rose 326.86 points (+0.68%) to 48,254.82, marking its first-ever close above 48,000. The S&P 500 added 4.31 points (+0.06%) to 6,850.92, while the Nasdaq Composite fell 61.84 points (-0.26%) to 23,406.46. The performance underscores a market rotation toward value and defensive leaders as tech shares cooled.
Mega-cap tech was mixed. Five of the “Magnificent Seven” declined, led by Meta (-2.90%), Tesla (-2.04%), Amazon (-1.95%), Alphabet (-1.56%), and Apple (-0.65%). Nvidia (+0.33%) and Microsoft (+0.48%) edged higher into the close. Meta is now roughly 23% below its record close, ending at $609.01 versus a peak near $790 and approaching its 2025 closing benchmark around $585. Outside the group, semiconductor sentiment improved as AMD surged 9.0% to $258.89 following upbeat commentary from its investor day.
Blue-chip momentum drove the Dow, with 21 of 30 components advancing. UnitedHealth (+3.55%), Goldman Sachs (+3.54%), and Cisco (+3.14%) led gains, supported by Nike (+1.66%), Disney (+1.57%), JPMorgan (+1.54%), and 3M (+1.43%). Laggards included Amazon (-1.95%), Chevron (-1.87%), Home Depot (-0.83%), Apple (-0.65%), and Amgen (-0.64%). The session highlights ongoing sector rotation as investors favor earnings resilience and balance sheet strength.
Key Points: – Dow Jones closed at 48,254.82 (+0.68%), its first finish above 48,000 – S&P 500 was nearly flat at 6,850.92; Nasdaq Composite fell to 23,406.46 (-0.26%) – Tech underperformed: Meta (-2.90%), Tesla (-2.04%), Amazon (-1.95%), Alphabet (-1.56%), Apple (-0.65%) – Nvidia (+0.33%) and Microsoft (+0.48%) ended higher; AMD jumped 9.0% to $258.89 – Meta is about 23% below its record close, ending the day at $609.01 – Dow breadth was positive with 21 of 30 components up; leaders included UnitedHealth, Goldman Sachs, and Cisco
🟣 Bpaynews Analysis
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