A rebound in tech shares sent the major averages higher today, with the DJIA posting a new record high, led by strength in International Business Machines (IBM).
A rebound in tech shares sent the major averages higher today, with the DJIA posting a new record high, led by strength in International Business Machines (IBM).
The holiday-shortened week closed with the DJIA at a new record high as investors continued to rotate out of AI-related stocks and into cyclical sectors.
AI spenders were hammered during the month, while the beneficiaries of that spending moved higher. Microsoft (MSFT), Meta Platforms (META), Amazon (AMZN), Netflix (NFLX) and Tesla (TSLA) all traded below their respective 50,100 and 200-day MA’s in June.
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| Index | Close | Day Change | Day % Change | YTD % Change |
|---|---|---|---|---|
| NASDAQ COMPOSITE | 26121.16 | 288.49 | 1.12% | 12.39% |
| DJ UTILITIES | 1148.65 | -13.06 | -1.12% | 7.54% |
| DJ TRANSPORT | 21871.05 | -144.06 | -0.65% | 26.01% |
| DJ INDUSTRIALS | 53055.91 | 155.84 | 0.29% | 10.39% |
| NYSE COMPOSITE | 24075.12 | 118.04 | 0.49% | 9.41% |
| S & P 100 INDEX | 3701.26 | 29.71 | 0.81% | 7.83% |
| RUSSELL 2000 | 3009.54 | 13.43 | 0.45% | 21.26% |
| S&P 500 | 7537.43 | 54.19 | 0.72% | 10.11% |
| CBOE MKT VOLATILITY | 15.57 | -0.58 | -3.59% | 4.15% |
| AMEX COMPOSITE | 7816.15 | -40.77 | -0.52% | 13.83% |
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