Nasdaq fell even after a blowout Micron earnings report helps the AI play, Apple led the Nasdaq lower dropping nearly 5 percent after announcing price increases on MacBook and iPad, Check out recent Webinars with CFP Chad Burton of EP Wealth Advisors at Rob&#x27;s website

DJIA Notches Record As Market Divides

Rob Black Show

Looking for strategies to help you protect your portfolio in these uncertain times? Visit robblack.com. Robblack.com. Powered by E.P. Wealth. The S&P 500 up 20 basis points this morning, sitting at 73.71. Not too bad considering the NASDAQ is down 119 points, down one-half a percent, sitting at 25,357.

The Dow Jones Industrial Average up 90 basis points, leaving the NASDAQ in its dust. The market is broadening. The tech trade is tiring. Russell, 2,000 up today into record territory, up 60 basis points to 3,005. Gold, up 24,028. There was some inflation in the data this morning. More on that in just a minute.

Bitcoin's under 60,000 again, sitting at 59,198, down about 1.61%. Crude is ticking up slightly. So the S&P 500 and the Dow are both moving higher. The Dow is surging, whereas the S&P 500 has the market weight of the NASDAQ, magnificent seven, roughly 7 to 20 stocks on top of that, that had such massive outperformance for three and a half years.

I like a broadening of the market. It feels uncomfortable, but I like it. More than four in five S&P 500 stocks were set to close higher as of the open this morning. The tech trade is becoming more nuanced. Investors are starting to distinguish more between big AI spenders like Alphabet and firms. The money flows to like memory stocks and other infrastructure plays. None of this is a major indictment of AI.

But what we need to always remember is that AI needs a return on investment. If everything costs way more, then the return on investment needs to be bigger. So when you see memory prices move higher for Micron and SanDisk, and we'll get to that in just a second, really solid numbers last night out of Micron,...

DJIA Notches Record As Market Divides

Read the full transcript

The candid version is on a podcast,
not the earnings call.

DJIA Notches Record As Market Divides

Read the full transcript

The candid version is on a podcast, not the earnings call.

The candid version is on a podcast,
not the earnings call.