The Market Selloff That Wasn’t

Core Insights - The stock market experienced a notable reversal, with the Dow turning higher despite initial declines in major indexes [1] Group 1: Market Performance - The S&P 500 index was down approximately 0.5%, primarily affected by losses in large-cap technology stocks such as Nvidia, Oracle, Broadcom, and Arista Networks [2] - Despite the overall decline, more than 310 S&P 500 stocks were actually higher, indicating a broader market resilience [2] - The Invesco S&P 500 Equal Weight ETF increased by 0.2% after starting the day lower, suggesting that not all sectors were negatively impacted [2] Group 2: Notable Stock Performances - Wells Fargo emerged as a top gainer in the S&P 500 following strong earnings results [3] - Other notable gainers included Domino's Pizza, MGM Resorts, Las Vegas Sands, Wynn Resorts, Airbnb, Walmart, and Dollar Tree, highlighting a diverse range of sectors performing well [3] - The performance of these stocks indicates that there is more to the market than just the high valuations associated with artificial intelligence stocks [3]