S&P little changed

In the US stock market today, there was a rotation out of growth (Nasdaq stocks) to more value stocks (Dow stocks).The Nasdaq had closed at all time highs over the last three trading days, but that string was broken today.

  • The Dow rose 95 points or 0.38%
  • The Nasdaq fell -54 points or -0.70%
  • The S&P fell -2 points or -0.07%

Leading the way in the Dow stocks included:

  • McDonalds up 4.37%
  • Chevron up 2.85%
  • P&G up 1.88%
  • Travelers up 1.39%
  • Home Depot up 1.32%
  • Verizon up 1.22%
  • Even GE was up 0.99%.

On the downside, some of the growth stocks that helped propel the Nasdaq to double digit gains year to date, fell today:

  • AMD fell -4.98%
  • Alibaba fell -2.29%
  • Intel fell -2.02%
  • Netflix fell -1.65%
  • Facebook fell -1.65%
  • Microsoft fell -1.57%
  • Cisco fell -1.38%
  • Alphabet fell -1.15%
  • Nvidia fell -0.85%

Rotation out of tech has tended not to work to well in the past, but today there was a clear move from the growth to the value.