TMTB EOD Wrap; SAP NXPI First Takes

Good afternoon. QQQs +1.5% as the market bounced following Biden’s exit from the race. The rotation we saw last week reversed very briefly early Monday morning but selling pressure in small-caps and cyclical/value largely dissipated by mid-day and IWM finished inline with the QQQs. Semis and Ai names led the way higher buoyed by strength in Mega Cap.