Dow Jones and Nasdaq Index: Tech Stocks Bounce as US Indices Find Support

The Nasdaq’s the weakest link. It’s rallying hard intraday, but the first real test is 22,959. Even if it gets there, the 50-day at 23,389 looms. The trend is still lower, and there’s a lot of work to do before you can say this index has turned the corner.

Sectors: Tech Bounces, Consumer Discretionary Lags

Tech led the charge, up 3.1%, with beaten-down names finally catching a bid. Industrials (+1.7%) and Financials (+1.6%) rode the broader risk-on tone. Even Utilities and Materials posted modest gains — not exciting, but steady.

Consumer Discretionary got hit, down 2.4%, dragged by Amazon’s 9% drop. Communication Services fell 1.2% as well, showing that not all corners of the market are buying the recovery story yet. When your two weakest sectors are consumer-facing and ad-dependent, that’s a signal that growth concerns are still lurking.

Stock Movers: Amazon Weighs, Drugmakers Pop

Amazon’s the headline — down 9% after missing earnings and announcing $200 billion in capex for the year. That’s a staggering number, and the market’s clearly questioning whether all that AI spending will pay off. It’s weighing on Consumer Discretionary and casting a shadow over Big Tech’s spending spree.