This week was all about rotation. Investors spent much of the week shifting funds around, locking in profits with winners — mainly megacap tech stocks — and taking positions in many overlooked areas of the market that are due for a bounce, especially once the Federal Reserve starts cutting interest rates. The result: The Nasdaq shed more than 3%, ending its winning streak of six weeks, and the S & P 500 lost 1.5%. On the flip side, the Dow rose 0.
U.S. President Donald Trump speaks on Day 4 of the Republican National Convention , at the Fiserv Forum in Milwaukee, Wisconsin, U.S., July 18, 2024.This week was all about rotation. Investors spent much of the week shifting funds around, locking in profits with winners — mainly megacap tech stocks — and taking positions in many overlooked areas of the market that are due for a bounce, especially once the Federal Reserve starts cutting interest rates.