Two Long, Hard Days Later, Nasdaq Emerges From Its Crevasse

Maybe Monday was just a bad dream. Maybe instead of the beginning of the end of tech leadership, it was the end of the beginning of the ferocious rotation out of tech and into cyclical stocks so prevalent last week.

Major Indices INDEX CHANGE % VALUE YR TO DATE Dow 132.87 +1.3% 10,581.42 +15.2% S&P 500 29.95 +2.3% 1336.12 +8.7% Nasdaq 78.65 +3.3% 2488.29 +13.5% Russell 2000 11.23 +2.7% 426.57 +1.1% TSC Internet 40.11 +6.7% 636.06 +56.5% TREASURY BOND CHANGE VALUE YIELD 30-Year 3/32 96 3/32 5.523%

Tech and other growth stocks led the way once again today. But unlike yesterday's more bifurcated session, the majority of stocks dutifully followed big-cap leadership higher. ...