"The stock futures are trading lower on Thursday, following another incredible day for the Dow Jones Industrials, while the rotation out of the NASDAQ and into technology is still gaining traction. The DJIA posted a record all-time high, closing at 48,254, up another 327 points or 0.68%. The S&P 500 just barely finished the day positive at 6850, but once again, as has been the result for the last few trading days, the NASDAQ closed lower by 0.26% at 23,406."
"The Russell 2000 also closed in the red on Wednesday at 2451. The same narrative that has been circulating on Wall Street remains in place: a rotation from high-valuation technology stocks that have had a massive run over the last three years, and the possibility that the AI investment mania has created a bubble that, if and when it pops, will shatter the rest of the stock market and the economy."
"After a day off on Tuesday to honor our brave men and women veterans, the bond market was back in action on Wednesday, and yields were down across the Treasury curve as buyers emerged, as the House of Representatives is expected to sign the funding bill that will end the longest government shutdown on record. The yield on the 30-year bond closed the day at 4.67%, while the benchmark 10-year bond was last seen at a yield of 4.07%."
Stock futures traded lower Thursday despite the Dow Jones Industrial Average reaching a record close at 48,254, up 327 points. The S&P 500 finished marginally higher at 6,850 while the NASDAQ fell 0.26% to 23,406 and the Russell 2000 closed down at 2,451. Market action reflects a rotation away from high-valuation technology stocks and concerns that an AI-driven investment bubble could trigger broader market and economic fallout. Treasury yields declined as buyers returned amid expectations the House would pass funding to end the shutdown, with the 30-year at 4.67% and the 10-year at 4.07%. Oil prices plunged on growth worries and potential oversupply, pushing Brent and WTI sharply lower.
Read at 24/7 Wall St.
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