Flow of funds moves into Dow and small cap stocks.

The market rotated out of the large/mega-cap tech stocks today. Markets got a little spooked by better than expected JOLT job openings and the realization that July is probably not a month for a rate cut. Some recent gainers were hit hard today. Nvidia -2.69% Broadcom -3.82% SuperMicro Computer -3.14% AMD -3.71% Meta -2.42% Palantir -4.27% Palo Alto Networks -3.33% Meanwhile, the Dow stocks shined with the following 15 Dow stocks rising by 1.25% or more UnitedHealth (UNH): +4.38% Amgen (AMGN): +4.11% Sherwin-Williams (SHW): +3.73% Merck & Co (MRK): +3.25% Nike (NKE): +3.19% Honeywell (HON): +2.53% Johnson & Johnson (JNJ): +2.02% McDonald’s (MCD): +1.97% Home Depot (HD): +1.93% Chevron (CVX): +1.61% Coca-Cola (KO): +1.38% 3M (MMM): +1.34% Apple (AAPL): +1.39% American Express (AXP): +1.31% Procter & Gamble (PG): +1.24% The final numbers for the major indices are showing: Dow industrial average rose 400.29 points or 0.91% at 44495.06 S&P index -6.90 points or -0.11% at 6198.05 NASDAQ index -166.84 points or -0.82% had 20202.89 Russell 2000 rose 20.43 points or 0.94% at 2195.46 The day was clearly rotational which is ok as it implies a growing economy, but there is some selling of the rich and buying the less fortunate/poor. Two days of record closes in the S&P and Nasdaq come to an end.