A short week, but a big one. Markets were closed Friday for the Fourth — but Wall Street still delivered a historic run and a plot twist. Here's the recap.

It started with a bang: Monday the Dow closed above 52,000 for the first time ever (Alphabet joined the index), and Tuesday capped a blowout second quarter — the S&P up 15% and the Nasdaq up 21%

Then Wednesday brought a gut check. Red-hot chip stocks — some of which doubled investors' money this year — took a breather, partly on a report that Meta is entering the cloud business (which spooked "neocloud" rivals like CoreWeave and Nebius) but chip stocks fell mostly due to profit taking.

Micron gave back ~14% on the week. But the money rotated into banks, industrials, and consumer names — a healthy broadening, not a breakdown.

On Thursday, a weak June jobs report (+57,000, well below expectations) actually lifted the market, sending the Dow to its 20th record of the year — because soft jobs data makes it less likely the Fed raises rates.

Where the week landed: Dow 52,900.07 (week +2%) — record S&P 500 7,483.24 (week +1.8%) Nasdaq 25,832.67 (week +2.1%) Russell 2000 2,996.11 (week -0.4%)

This week: the Fed minutes (Wednesday) and a little quiet before earnings season kicks off next week. Subscribe for daily market updates!

Wall Street opened the third quarter with a pullback — but it looked more like healthy profit-taking than trouble. Here's everything from Wednesday.

The story of the day was rotation. Chip stocks like Micron and Sandisk fell ~10% — but not on bad news. After a historic run (many names up 80-100%+ in six months), investors simply booked profits. And the telling part is where that money went: into banks and telecom (Financials and Communication Services), not out of the market. Analysts call that healthy — a sign the rally is broadening, not breaking.

The day's big winner was Meta, up ~9% on a report it's building a business to sell its extra AI computing power — the same model behind Amazon's AWS and Microsoft's Azure. It finally answers how Meta earns a return on the hundreds of billions it's spending on AI. The flip side: "neocloud" rivals CoreWeave and Nebius tumbled 14-17%.

Where things closed: Dow 52,305.24 (-0.03%) S&P 500 7,483.23 (-0.22%) Nasdaq 26,040.03 (-0.66%) Russell 2000 3,012.59 (-0.39%)

A few more: Michael Burry ("The Big Short") revealed his first-ever short bet against Caterpillar (-7%), citing a 30-year-high valuation. AOL's owner, Bending Spoons, popped ~40% on its Nasdaq debut. And a soft private-payrolls report set the stage for this morning's official jobs number.

All eyes on the June jobs report (a day early, before the July 4 close). Save this for later, and subscribe for a plain-English market update every morning.

#stockmarket #investing #marketupdate #meta #bellclub

Nike just "beat" earnings expectations — but the headline number is hiding something.Here's the breakdown from yesterday's market action:Wall Street just wrapped its best quarter since 2020 — the S&P is up almost 9.5% this year, the Nasdaq nearly 13%.Nike reported EPS of 72 cents vs. the 19 cents expected. Sounds huge, right? Except more than half of that came from a one-time tariff refund. Strip it out and Nike's actual business roughly met expectations — while revenue fell 1%.Concentrix (an outsourcing/call center company) dropped 11% after warning that clients are shifting work to AI systems instead of humans — a real-time example of AI disruption showing up in a stock price.ABIVAX jumped 39% on strong drug trial data.Circle Internet Group fell 17% after news that Visa, Stripe, and 100+ firms are launching a competing stablecoin.The lesson from today: a headline earnings "beat" and a healthy business aren't always the same thing. Save this for the next time you see a company "smash estimates."Drop your questions below.