Dow's Third Straight Record as Tech Rotation Narrows the Rally

On August 5, the Dow climbed 447.96 points (0.83%) to 54,533.87, its third consecutive record close, and the S&P 500 also hit a record. The Nasdaq Composite slipped, pulled down by SpaceX and AMD. The split suggests rotation from growth tech into blue-chip industrials — a narrower rally worth watching.