Welcome to the closing bell overtime. I'm John Ford at

C. NBC headquarters. And I'm Morgan Brennan in Simi Valley,

California at the Reagan National Defense Forum on a day

when the defense and aerospace E. T. The ITA hit a record high.

We've got great guests with me this hour,

including the CEO Chip Contract manufacturer,

global foundries, and the CTO of Palantier Technologies an AI name that's up more than 200% this year.

And it's been a banner week for Cloud stocks with the WCLD ETF at multi-month highs.

Up more than 4% today. We're rounding out Cloud Week here on

overtime with two CEOs whose stocks are surging today on earnings Samsara and

elastic. Let's begin with the market though just wrapping up Samsara and Elastic.

Let's begin with the market though.

Just wrapping up the fifth week in a row of gains for the Dow and the S&P 500.

The S&P just closing at a fresh 52 week high, led this week by real estate materials and financials. We're seeing

increases across the board for the major averages today coming even as

Fed Chair Powell pushed back against hopes for a rate cut in the foreseeable future.

CMC's senior markets commentator Mike Santoli joins us now.

Mike to me, the real takeaway here is the fact that the equal weighted S&P, the Russell 2000, the Dow transports, these have been

the big outperformers in recent sessions.

It speaks to the rotation or maybe, dare I say, the broadening out of the rally right now.

Yeah, no doubt Morgan.

People have wanted a more inclusive market, one that wasn't just dominated by a handful of

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