Tech rout tempers markets as rotation boosts Dow before key data
TL;DR
Futures were mixed as tech weakness weighed on the Nasdaq and S&P 500, while the Dow rose on sector rotation into healthcare, financials and industrials. Apple slid about 6% and Microsoft fell more than 3% after price hikes, with Alphabet and Meta also lower. The Nasdaq posted a four-day decline for the week, the S&P 500 dipped slightly, and the Dow inched higher, as investors await May wholesale inventories and the University of Michigan sentiment data and reassess Fed expectations amid semiconductor volatility.
- S&P 500 futures are little changed as index heads for losing week: Live updates CNBC
- The S&P 500 is at a critical crossroads. A break lower could signal more losses ahead. MarketWatch
- Stock Traders Scour for Technical Levels to Lure Dip Buyers Bloomberg.com
- The Power of Market Rotation TheStreet Pro
- Core PCE Could Tip the S&P 500 Into a Lower Low This Week StoneX
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