"Tech and Chip Stocks Surge: Nasdaq Hits Highs, Dow Jones Rises"

The Dow Jones Industrial Average rallied despite a Fed official's tempered expectations on interest rate cuts, with Apple leading the Magnificent Seven higher and Tesla dipping. Bill Ackman stocks like Alphabet and Chipotle Mexican Grill are near potential buy points, while Elastic and Marvell Technology tested entries. Atlanta Federal Reserve President Raphael Bostic expects rate cuts in the third quarter, and economic data showed a drop in jobless claims and better-than-expected housing starts. The Nasdaq jumped, small caps reversed higher, and the Dow Jones climbed 202 points, with Boeing stock leading. Bill Ackman's Pershing Square Capital Management holds Alphabet, Chipotle Mexican Grill, and Canadian Pacific Kansas City near buy zones. The Magnificent Seven, including Apple and Meta Platforms, mostly rose, while Tesla lagged. Bitcoin fell, and Cathie Wood's ARK 21Shares Bitcoin ETF struggled. Elastic and Marvell Technology tested buy points, with semiconductors getting a boost after Taiwan Semiconductor's strong performance.