Dow leads as investors rotate into value
SPY•The Dow rose about 1% on Tuesday as investors shifted toward value stocks, while the S&P 500 gained 0.28% and the Nasdaq was flat. Healthcare, real estate and utilities led sector gains as technology and communication services lagged.
1. Value stocks lead gains
The Dow led U.S. stocks higher on Tuesday as investors rotated into value stocks, including healthcare and real estate, while technology lagged. Nine of the 11 S&P 500 sectors gained, led by healthcare, real estate and utilities; technology and communication services were the biggest drags as investors pulled back from the AI trade.
2. Semiconductors fall
The PHLX Semiconductor Index fell 0.3%, after ending an eight-session losing streak on Monday. The dollar and gold dipped, U.S. crude rose slightly and bitcoin gained about 1%; the 10-year Treasury yield edged down to about 5.11%.
