Jay Woods is back at the NYSE desk to discuss the rotation trade underway in the markets. He and Diane King Hall points to the Dow's 50k new-high as evidence of being in a "strong, secular bull market." He's looking ahead to Nvidia (NVDA) earnings at the end of the month to see what happens with the current tech trade. On recent software weakness, Jay says the group has been "SaaS-sy" as fears of AI eating into its business model impact names like Salesforce (CRM), Applovin (APP) and Datadog (DDOG). Other names on his radar: DuPont (DD) and Cisco (CSCO) as he reiterates "slow and steady" names should be part of a portfolio.