S&P 500, Nasdaq notch new records, Dow snaps losing streak

All three of the major market averages (^DJI, ^IXIC, ^GSPC) ended Monday's session in the green, the Dow Jones Industrial Average snapping its losing streak and rising by almost half a percent. The good times keep on coming for the S&P 500 and Nasdaq Composite who close at yet another set of record highs in June. This comes after market strategists from Evercore ISI and Goldman Sachs raised their year-end target for the S&P 500.

Market Domination Overtime's Julie Hyman recaps the day's market performances and movements seen in the S&P Equal Weight Index (^SPXEW) and Russell 2000 (^RUT), while Jared Blikre reviews the gains seen across sectors and key industries.

For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime.

This post was written by Luke Carberry Mogan.

Video transcript

That's the closing bell on Wall Street.

And now it's market domination over time.

We are joined by Jared Bli to get you up to speed on the action from today's session.

We start with where the major averages ended the day.

Pretty steady here for the dow in the last couple of hours of trading here with a gain of about 190 points.

That's a gain of a half of 1%.

The S and P 500 back at a record here up about three quarters today and closing um higher, substantially above 5400 as we talk.

But earlier, we have a number of Wall Street strategists coming out and raising their targets for the S and P most notably, or the highest from ever core.

I SI S Julian Emanuel at 6000.

That's where he is putting the S and P 500.

The NASDAQ also uh closing at a record again today and that makes it, I believe six sessions in a row that we've seen those records.

Here's the 10 day, look at the NASDAQ up 6% in that period of time.

What's interesting to me about today.

Though.

How is that?

You don't just see participation of a big cap tech.

You also see the equal weight index of the S and P almost keeping pace with the S and P 500 not quite but close up 7/10 of 1% and the Russell 2000 people keep, still love small caps even though we have still seen them underperform.

Uh But we still see a lot of folks talking about how they like the small caps, including Mike D at the top of the show from Roth MKM.

That index up about 7/10 of 1% as well.

So a couple of things I noticed here, I'm sure Jared noticed a lot more.

Let's go to him now for a closer look.

Well, I like that really interesting observation that you got the Russell 2000, the S and P 500 the S and P 500 equal weight all up 7/10 of a percent.

So maybe those concentration issues I was talking about a moment ago, finally disappearing a little bit.

I think they'll come back.

But here's a sector action how we close today.

Consumer discretion.

That's XL Y that was number one up 1.77%.

Then you have tech, then you have industrials, all three of those over 1%.

And to the downside, we got utilities down 1% then real estate and health care as well.

And if we take a look at some of the leaders here, you can see a lot of green, not a lot of red.

So what did poorly solar energy?

That's at 10 A TFIBB is biotech and LQD is safe us treasury bonds a little bit boring there.

But you don't have to worry about that.

Today, we got gambling in the top spot up 3% followed by cannabis, New York Fang.

Um That's a lot of these chip stocks that we're talking about.

Bitcoin regional banks participating.

So let me just skip over to the uh semiconductor heat map and you can see NVIDIA taking a little bit of a tumble but check out Broadcom to another record high of 5.4%.