Celestino Brunetti @celesh: "Markets in the Last 24..."

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Markets in the Last 24 Hours: Dow Hits Record as Money Rotates Out of AI Dear copiers, investors and followers, I am writing this post as a mini recap of the latest news relevant, directly or indirectly, to our portfolio. Equities: rotation in play A clear rotation took hold. The Dow set a fresh record as healthcare and financials led, while the AI trade stumbled: Broadcom $AVGO (Broadcom Inc) sank double digits on a disappointing artificial intelligence outlook, dragging chipmakers and the $NSDQ100. The $SPX500 is roughly flat on the week. Money is leaving crowded tech names and moving into defensives. Jobs day The main event is today's US May payrolls, due ahead of the US market open. Consensus sees around 80,000 jobs, down from 115,000 in April, with unemployment near 4.3%. A soft print would probably not change much: the Fed is widely expected to hold on June 16 to 17. Geopolitics and commodities The US-Iran ceasefire stays fragile, though talks are described as near final. $OIL held its recent easing after the Israel-Lebanon truce, while $GOLD traded near 4,500 dollars and Bitcoin $BTC slipped sharply. Ad maiora This post is for informational and educational purposes only and does not constitute financial advice, investment recommendations, or a solicitation to take on risk. Any investment decision remains the sole responsibility of each individual investor.

Not investment advice. The author may have financial interests in the mentioned instruments.