00:00 Speaker A
No record highs to speak of in the major indices, at least on a closing basis. on the intraday one, we did hit a couple right after the open. Here’s the Dow. We opened in the green territory, drifted into the red, pretty much stayed there all day. Uh not a big loss. So uh 2/10 of 1% or not even 100 points. And then the Nasdaq down about 7/10 of a percent. We’ll take a deep dive into tech in a minute. and the S&P 500 down about 4/10 of 1%. Meanwhile, small caps led the way down. Here’s the S&P 600 down 1.3%.
00:29 Speaker A
And we did have a record high. I got to show you gold right now. I know we’ve been talking about that a lot, especially with Yahoo Finance is in Nes Ferre. But there we go, 4,390, finally cracked that big psychological barrier. And then in sector action, what is green is mostly defensive outside of financials. Staples was the best off up almost 1%, followed by utilities, energy, then you have financials and health care.
00:54 Speaker A
To the downside, consumer discretionary led the way down. That is a Tesla story. Also tech and industrials off more than half of 1%. Taking a look at the Nasdaq 100, not the prettiest of pictures. I mentioned Tesla that was down 4.45% there. Also a lot of weakness in the chip sector. Let’s just skip over to the semiconductors and you can see uh some green there, Intel, Arm, uh Broadcom.
01:21 Speaker A
I got to highlight AMD because over the last two days, they’ve tacked on, what is that, uh 28% and this looks like a new record closing high for AMD, the first in about a year and a half. So a little bit of green there.
01:31 Speaker A
And then in software, also seeing a lot of red, some outsized uh down underperformers. We got Newtanix down 6%, Ring, Zscaler and uh Snowflake each down more than 3%. So some weakness there. And I just want to show you the Dow and the transports here. We do see green here. Dow has uh a lot more of these uh defensive sectors that we were just talking about in terms of staples like Proctor and Gamble, also healthcare, United Health up 1.4% along with Proctor and Gamble.
01:54 Speaker A
But here’s the transports, the stuff that ships, the stuff that the industrial’s making. A lot of red here. Uh Uber, the biggest one, down two and two uh 28 100ths. And then UNP, the railroads also not having a great showing today.