Berkshire Hathaway disclosed that it sold some 34 million shares in longtime holding Bank of America, which has done quite well this year. If past Berkshire practices mean anything, that may not be the end.
The Dow Jones Industrial Average jumped 1.6%, and the Nasdaq composite climbed 1%. The market's widespread gains included rallies for both Big Tech behemoths and smaller stocks, a departure from much of this month's trading where a divide deepened between the two groups. The Russell 2000 index of small stocks brought its gain for July to more than 10%.
Wall Street is undergoing a palpable vibe shift.