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Dow Jones did what it said on the tin

As the US stock markets reopened, there was clear evidence of rotation out of tech and back into the Dow Jones. That was noted here at the time and it lasted all the way into the US close. Hence the Dow Jones benefited where the Nasdaq 100 and S+P 500 did not and it was the only major index to close higher on the day. The Dow Jones closed 299 points higher, at 39,134. That 0.77% rise compared to a loss of 0.25% for the S+P and 0.79% for the Nasdaq 100. So, far today there is little evidence that dynamic has yet shifted back the other way. It might of course, but the reader is again drawn to the technically negative closes set on the other two indexes last night. That said the Dow Jones futures have just slipped into the red on the European opening, as the likes of the FTSE 100, DAX and CAC all open a little lower this morning

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