// COMPARE

Dow barely moved, adding just 12 points to 49,609. Old-economy names lagged as money rotated hard into growth and semis.

The Dow's flatness while Nasdaq surges 2.35% signals a classic rotation. Industrials and financials need rate-cut clarity that CPI data could provide.

50,000 psychological level remains the target. Needs breadth expansion from industrials and financials — unlikely without softer inflation data.

Silver gained nearly 1% to $81.15, outperforming gold. Industrial demand narrative continues to dominate the gold-silver ratio compression.

Silver's dual role — industrial metal plus monetary hedge — makes it the better play in a risk-on, inflation-worried environment. Solar panel demand keeps a floor under prices.

Gold-silver ratio near 57.7 — if gold breaks below $4,650, silver follows regardless of industrial demand. Watch $79.50 support.