Despite a late-week rally, the Nasdaq lost 1.8% and the S & P 500 lost 0.1% for the week, while the Dow rose 2.5%. Tech sector snapback led by Nvidia and Broadcom, with the Nasdaq gaining over 2% on Friday. Dow hit all-time high close of 50,115 on Friday, up more than 1,200 points.

Alphabet and Amazon announced massive capex increases for data centers and AI, affecting market sentiment. Google parent reported a fantastic Q4, but Amazon missed profit forecast. Software stocks took a hit amid AI fears, with CrowdStrike benefiting from cybersecurity demand. Stock trimming in Dow names like Home Depot and Honeywell due to market rotation.

Market rotation into value areas led to gains in overlooked sectors, with DuPont shares up over 16% for the year. Texas Roadhouse stock trimmed due to concerns about beef inflation. Subscribers to CNBC Investing Club with Jim Cramer receive trade alerts before trades are made in the charitable trust portfolio. No fiduciary obligation exists.

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1. The U.S. economy added 943,000 jobs in July, exceeding expectations of 870,000. The unemployment rate dropped to 5.4%, the lowest since the start of the pandemic.

2. Apple announced a plan to scan iPhones for child abuse images, sparking privacy concerns. The company defended the move, stating it will not compromise user privacy.

3. Robinhood shares surged 24% after its IPO, valuing the company at $32 billion. The trading app faced backlash earlier this year amid the GameStop frenzy.

4. Toyota reported a 54.4% jump in quarterly profit, beating expectations. The company cited strong demand for its hybrid models and cost-cutting measures.: Here are 3 major moments that drove the stock market last week