Markets Rebound, Dow Hits Record

Stocks recovered from the prior week's tech selloff. For the week ending Thursday (markets were closed Friday for the holiday), the S&P 500 gained about 1.8% to 7,483, the Nasdaq rose 2.1% to 25,833, and the Dow climbed 2% to a record close of 52,900. The rotation out of semiconductors continued, with chip names giving back ground after surging more than 80% in the first half, while communication services, financials, and healthcare led. Meta jumped on plans to sell excess computing power through a new cloud business. The week also closed the books on a strong first half: the S&P 500 rose 9.6%, the Nasdaq 12.8%, the Dow 8.9%, and the Russell 2000 nearly 22%, its best first half since 1991. The VIX eased to 15.8, and the CNN Fear & Greed Index improved to 32 (Fear) from 25 (Extreme Fear) a week ago.

Marion Office

Roanoke Office

Markets Rebound, Dow Hits Record

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