Broad Market Strength Offsets Tech Weakness

Stocks finished mixed on Tuesday as renewed strength in the broader market offset continued selling in technology names. The Dow Jones Industrial Average (+1.2%) led the way, while the S&P 500 (+0.2%) ended modestly higher and the Nasdaq Composite (-0.3%) slipped as chipmakers and other tech leaders came under pressure.

The day began with cautious sentiment following news that SoftBank sold its entire $5.8 billion stake in NVIDIA (-2.96%), adding weight to an already fragile semiconductor trade. The sale, even with SoftBank’s plans to reinvest in OpenAI, sparked a wave of profit-taking across the chip sector. The PHLX Semiconductor Index tumbled 2.5%, with AMD (-2.65%) and NVIDIA both in the red despite upbeat long-term data-center projections from AMD’s analyst day.

Away from chips, some of tech’s biggest names helped limit the damage. Apple (+2.16%) rallied on optimism over a potential U.S.-India trade deal, and Microsoft (+0.53%) recovered from early losses to finish higher by midday. Even so, the information technology sector (-0.7%) lagged all day, capping the Nasdaq’s performance.

In contrast, cyclical and defensive groups showed firm buying interest. The health care sector (+2.3%) led the S&P 500, buoyed by regulatory tailwinds after the FDA lifted black-box warnings on hormone-replacement therapies. Viatris (+10.1%), Moderna (+6.7%), Merck (+4.8%), and Amgen (+4.6%) all posted strong gains. Energy (+1.3%), consumer staples (+1.2%), materials (+1.1%), and real estate (+1.1%) also advanced as investors rotated away from crowded tech trades.

Crude oil rose 1.5% to $61.02 per barrel, supporting the energy complex. Meanwhile, industrials were held back by airline weakness following reports that the government shutdown’s end may still disrupt Thanksgiving travel schedules. United Airlines (-1.2%), Delta (-1.4%), and Southwest (-2.1%) all closed lower.

Nine of eleven S&P 500 sectors ended in positive territory, helping the S&P 500 Equal Weighted Index (+0.6%) outperform the market-cap-weighted benchmark. Breadth remained solid, signaling a healthy rotation beneath the surface despite tech softness.

While the mega-caps cooled after Monday’s strong rally, the overall tone stayed constructive. Broader participation across sectors limited downside pressure and left the major averages with solid week-to-date gains heading into midweek trading — a sign that investors remain willing to buy dips even as leadership continues to rotate away from tech.

Our FTInvest 11 model portfolio continued its strong upward momentum, closing up 0.61% at 870.47, just 0.11% shy of its all-time high, marking another session of broad resilience and steady leadership across core components.

The index opened in positive territory and maintained strength throughout the session, supported by gains in several growth and consumer-oriented holdings. The tone was constructive from the start, with buyers stepping in early to extend the index’s winning streak and keep it hovering near record levels.

While broader market benchmarks saw uneven action amid tech rotation, FTInvest 11 benefited from balanced participation across its key sectors. The session’s gains were not driven by a single standout performer, but rather a coordinated lift across several holdings, reinforcing the portfolio’s stability and depth.

The close near an all-time high reflects sustained investor confidence in the portfolio’s structure and its mix of growth and quality exposure. With momentum intact and risk appetite firm, FTInvest 11 remains well-positioned to challenge fresh highs in the coming sessions.