Market Rotation Shakes Up the Rally
Wall Street staged a strong rebound Tuesday, but the leadership looked very different from what investors have come to expect this year…
The Dow Jones Industrial Average surged 559 points (+1.2%), marking its 16th record close of 2025, while the $S&P 500(.SPX)$ added 0.2%. The $NASDAQ(.IXIC)$ , weighed down by tech and AI shares, slipped 0.3%.
Only four Dow components, $NVIDIA(NVDA)$ , Cisco Systems, Caterpillar, and JPMorgan Chase ended the day lower. Broader participation was solid, with most S&P 500 constituents finishing in positive territory, but the tech-heavy Nasdaq lagged as investors rotated out of high-growth names and into value, dividend, and low-volatility stocks.
Whether this is a one-day phenomenon or the start of a broader realignment will be the key question in coming sessions.
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Hot Stock: Viatris +10.1%
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Biggest Loser: AppLovin –8.7%
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Best Sector: Healthcare +2.3%
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Worst Sector: $Technology Select Sector SPDR Fund(XLK)$ –0.9%
Active Stocks
An AI Temperature Check
AI-related stocks, which have powered much of 2025’s rally, took a breather. After a sharp run-up Monday, semiconductors and AI infrastructure names tumbled on Tuesday amid fresh concerns about valuation and supply chain constraints.
$CoreWeave, Inc.(CRWV)$ CoreWeave shares dropped 16%, despite reporting a smaller-than-expected loss. CEO Michael Intrator told that data center buildout delays stem from “extreme pressures on the supply chain”, from concrete shortages to electrical transformer availability, but said demand for AI computing power remains higher than it was three months ago.
Elsewhere, the iShares Semiconductor ETF fell 2.3%, and Nvidia slid nearly 3% after SoftBank Group disclosed it exited its $5.83 billion stake in October. SoftBank remains bullish on AI overall, having increased investments in OpenAI and related infrastructure.
Even $Advanced Micro Devices(AMD)$ (AMD) saw volatility. Shares declined 2.7% during regular trading despite CEO Lisa Su’s upbeat growth outlook, forecasting 35%+ annual revenue growth over the next three to five years. But optimism returned after hours, when CFO Jean Hu projected operating margins to expand from 24% to over 35%, implying a “clear path” to $20+ earnings per share within five years. AMD stock rebounded 4.1% in late trading.
The Road Ahead
Earnings season continues, with a focus on balance-sheet strength and forward guidance as investors reassess growth assumptions amid sector rotation.
Wednesday’s lineup:
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Cisco Systems
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Flutter Entertainment
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Tencent Music Entertainment
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Circle Internet Group
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On Holding
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GlobalFoundries
The Bottom Line
Tuesday’s session was a reminder that even in a market dominated by mega-cap tech, rotation is healthy. Value and defensive names finally found their footing, hinting at broader participation and potentially more sustainable market gains.
For now, investors are watching whether the “AI pause” turns into a deeper correction, or simply the breather the market needs before the next leg higher…
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This summary is for informational purposes only and does not constitute financial advice. Investors should conduct their own research before making investment decisions.
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