S&P 500 Opens 0.02% Higher at 7,745.32; Nasdaq Slips 0.22%

The split between the Dow's gain and the Nasdaq's decline points to rotation rather than a broad risk move, with the S&P's near-flat open confirming there is no unified direction to read. That divergence matters because it suggests leadership is shifting beneath an otherwise quiet tape. Whether the Nasdaq's weakness broadens into the S&P or stays contained in tech is the open question.