HERE'S YOUR THREE MINUTE STOCK MARKET UPDATE

Here's your three minute stock market update. So after last week's brutal tech sell off, the market came roaring right back yesterday. Let's talk about it. The Dow closed above 52,000 for the very first time, and it happened on the day that Alphabet, Google's parent company, officially joined the Dow, and kicked out Verizon. Tech led the charge yesterday. The Nasdaq jumped more than 2% as all of those mega cap and chip names that got hammered came storming back right now. This market has pretty much the emotional consistency of a toddler. So last week it ran away from tech. This week it's sprinting right back into the exact same names. Drove the rebound yesterday. The Supreme Court ruled that President Trump cannot fire Fed Governor Lisa Cook, at least for now. Why does a court ruling move the market? Because the Fed sets interest rates, and investors want the Fed making those calls based on the economy and data, not on politics. So a decision that protects the Fed's independence clears a little bit of a cloud that's been hanging over the market for months. I get into exactly why that independence matters on the Bell Club today. The second reason that the market moved was us around ceasefire that seemingly held yesterday after a pretty tense weekend. That calmed a lot of nerves. All in all, the Dow rose about 0.6% to that record above 52,000, and the S&P gained 1.18%, and the Nasdaq jumped over 2%. The one laggard was small caps, small companies. The Russell 2000 index, which represents those smaller companies, was basically flat, which tells you that this really was a not necessarily a broad rally. Oil was at around $70 a barrel, and gold actually fell just a little bit. A few stories worth knowing. Alphabet popped almost 5% on its first day as a Dow member. The Dow weights its companies by their share price, not their total size. So Alphabet's higher stock price of the most influential names in the index. I break down what that means in my newsletter and also on the Bell Club today. In deal making, it was a busy day. Comcast announced it's splitting into two separate companies, spinning off its NBC Universal Media business from its broadband side. That's a move that they do to unlock value. And in outer space news, Rocket Lab, the scrappy SpaceX rival, agreed to buy the satellite operator Iridium in an eight billion dollar deal. Iridium soared 25% on the news. Rocket Lab was up 16%, and it really lit a fire under the whole space sector. One more story worth knowing. Charter, the cable giant behind Spectrum, jumped over 9% on a report that it's in talks with SpaceX to build a phone product. It would pair Starlink's satellite reach with Charter's network to take on the big wireless carriers. Nothing is signed yet, but investors loved the idea. Looking ahead today, we get job openings and consumer confidence data, plus Nike earnings after, and Nike could really use its stock down over 30% this year. The big one though is Thursday's jobs report, which comes a day early because markets are closed Friday for the Fourth. This morning futures are inching higher after yesterday's run, and oil is ticking up slightly despite the fact that crude does continue to flow through the Strait of Hormuz. If you find value in these updates, please consider liking, subscribing, or sharing with someone you know.