The US job market rebounded strongly in May, with traders betting that the Federal Reserve will start raising interest rates in October. The NASDAQ Composite Index fell 1.13% in early trading, the S&amp;P 500 Index dropped 0.66%, and the Dow Jones Industrial Average rose 0.10%. Most US technology stocks declined, with NVIDIA falling over 1.9% and AMD dropping over 4%. Optical communication and memory chip stocks continued to slide, with Micron Technology down over 5%, SanDisk down over 4%, and Marvell Technology down over 5%.

The Dow jumped 1.73% to a record close of 51,561.93, while AI and semiconductor names dumped (Broadcom led the drop at 12%). Money flowed out of tech leaders into value and defensive names. UnitedHealth, JPMorgan, and Walmart led the Dow higher. Is the market really rotating from tech to value, and should retail follow?

The Dow jumped 1.73% to a record close of 51,561.93, while AI and semiconductor names dumped (Broadcom led the drop at 12%). Money flowed out of tech leaders into value and defensive names. UnitedHealth, JPMorgan, and Walmart led the Dow higher. Is the market really rotating from tech to value, and should retail follow?

Dow New High Vs Nasdaq Dump: Time To Rotate?

.IXIC

NVDA

The US May Non-Farm Employment data came in stronger than expected, leading the market to bet on a Federal Reserve rate hike in October. Affected by this, US stocks fell in early trading, with the NASDAQ dropping over 1%. Technology stocks generally declined, with NVIDIA, AMD, and memory chip stocks seeing significant losses

Wallstreetcn

NASDAQ Composite Index

US May Non-Farm Employment Significantly Beats Expectations, NASDAQ Drops Over 1% in Early Trading