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Stocks close higher around rate cut optimism

The three major stock market indexes (^DJI, ^IXIC, ^GSPC) lead the way for May gains, all closing higher for the third consecutive session (the Dow Jones Industrial Average's fourth green day) since the Federal Reserve's decision to hold interest rates.

Market Domination Overtime Host Julie Hyman reports on Monday's market action while Jared Blikre reviews the day's gains across sectors and in Nasdaq 100 (^NDX) tech leaders

For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime.

This post was written by Luke Carberry Mogan.

Video transcript

There is the closing bell on Wall Street and now it's market domination over time.We're joined by Jared to get up to speed on the action from today, sponsored by Tasty trade.First time to start with where the major averages ended up here.We saw the dow gaining about 176 points here after kind of bounce around during the session ending closer to the highs than to the low.The S and P 500 moving up by a percent here and also moving.If you look at a little bit of a longer chart, we don't have the 50 day moving on here, but I can tell you we moved above the 50 day moving average, which is a technical indicator that I'm sure Jared knows a lot more about than I do.And then we have the NASDAQ leading the games on the day up by about 1.2% quick check as well while we're looking at sort of broadly here at what happened with the 10 year, a little bit of a pull back to it, but essentially flat at right around 4.5% Jared.Now, has a closer look at today's action spot on.With that 50 day moving average, we are above it in all the major indices plus the Russell 2000.You'll just have to take our word for it.Now, in terms of sectors, communication services, number one, that's XL C houses, alphabet and meta as well as Verizon and some other interesting companies, Netflix.But then financials tech and consumer discretionary round out the top four.So it is a mega cap sectors plus financials.And let's take a look inside the NASDAQ 100 where we can see only apple uh kind of taking things down a little bit of a notch.That's down 9/10 of a percent.But NVIDIA up almost 4% meta up 3% alphabet, half a percent and not a lot of losers here.It looks like Amgen down 3.79% down here.That is the biggest loser.Uh We covered sectors, but I do want to take a look at some of our leaders and arc is the biggest winner here up over 2%.And if we take a look inside the disruption field, unprofitable tech, we can see besides Tesla, a lot of strength there, Shopify up almost 4% square block up, 5% draft kings up 5%.Now, if we're taking a look inside tech, we also got to take a look at software versus some versus semis.Here's software, a lot of green but not too much dark green.Here's semis, we're seeing some more dark green.So semiconductors actually outperforming software within the tech sphere.And here you can see arm up about 5% A MD, up 3% and up almost four.I think we've been there.I also want to show you one more thing here.This is meme stocks and in a day where we're not seeing some of the fringer assets like Bitcoin rise, we are seeing meme stocks.So that in addition to unprofitable tech, that would be the art components just showing you that there is some interest in the fringer parts of the market punier.It's going to be an earning story this week that is up 8% American Airlines also up over 5%.