S&P 500 Closes Up 0.6%; Nasdaq 100 Gains 0.8%

The dispersion beneath the headline is the real signal: materials and telecom leading while real estate lags points to a rotation rather than broad risk appetite, and the Nasdaq's gain rests on a handful of outsized movers rather than the index's largest names. The split within tech — MercadoLibre, Western Digital and Seagate higher, Qualcomm, CoreWeave and Intel lower — suggests the market is discriminating between AI-adjacent hardware and storage exposure rather than buying the theme wholesale. Whether that storage-and-latency trade holds, or the laggards catch up, is the open question.