Rio Times Global Economy Briefing
The Big Three
The Dow set a record and tech led a powerful rebound. The Dow Jones closed above 52,000 for the first time, the S&P 500 rose 1.2% and the Nasdaq surged 2.1% as the megacap technology names that had been punished all week came roaring back.
The Supreme Court protected the Fed’s independence. In a narrow 5–4 decision, the justices blocked the President from firing Governor Lisa Cook for now, carving out the central bank as an exception even as they expanded his power to remove other officials.
Alphabet joined the Dow and jumped on its debut. The Google parent replaced Verizon in the 30-stock index and rose more than 4% on its first day as a member, deepening the blue-chip benchmark’s exposure to the technology trade.
