Investors go Old School as tech sold Dow up

MPC Markets Morning Call · Jun 4, 2026 · 7m

Wall Street delivered a tale of two markets overnight as the Dow surged to a record high while the Nasdaq slipped on a Broadcom-led semiconductor selloff. The S&P 500 rose 0.4% to 7,584.82, with about 360 of its constituents advancing as nine of 11 sectors closed higher — financials led the charge at +2.7% and healthcare added 3%. A renewed Israel–Lebanon ceasefire bolstered hopes for eventual US–Iran peace, sending Brent crude down 2.7% to $95.21 and WTI 3.1% lower to $93.08. Spot gold climbed 1% to $4,478.21 as investors hedged geopolitical uncertainty. Blackstone capped withdrawals from…