Another Record High in S&P 500, Nasdaq and Dow Jones Before Closing Lower

Nothing is stopping the surge in stock markets, with all main US indices, the S&P 500, Dow Jones and Nasdaq printing new record highs today. The Trump Trade continues to play out, sending risk assets such as stocks and cryptocurrencies higher, with Bitcoin approaching 90K today, however, stocks retreated later in the day.

Since the election, the market has taken a distinctly upward path, with “Trump trades” like Tesla showing strong performance. Retail investors have been accumulating, which could signal caution rather than a sign of sustained institutional interest. Much of the capital remains in money-market assets, potentially waiting to flow into equities and cryptocurrency.

S&P 500 Chart Daily – Closing Above 6,000 Points

A Pause After Strong Market Gains in 2024

However, some fatigue appears to be setting in, as shown by the limited changes in Nasdaq and S&P 500 despite opening at record highs. The Russell 2000 led gains with a 1.1% increase, while the Dow rose about 0.7%, but the Nasdaq and S&P showed minimal movement with Nvidia down by 0.7%.

In 2024, the Nasdaq has risen by approximately 30%, and the S&P 500 by 26%, which suggests the market may be due for a breather after this rally. Chipmakers were among the day’s laggards, with stocks like Nvidia, Intel, and Broadcom under pressure. This slowing pace could reflect a consolidation phase as investors weigh potential next steps amidst the year’s substantial gains.

Final Closing Level for Main US Indices

• Dow Jones Industrial Average:

  • Closed at 44,293.13, up 304.14 points or 0.69%
  • Strengthened by gains in industrial and financial sectors

• S&P 500 Index:

  • Closed at 6,001.35, rising 5.81 points or 0.10%
  • Managed slight gains, with energy and utilities offsetting slower growth in tech

• NASDAQ Composite Index:

  • Ended at 19,298.76, up 11.99 points or 0.06%
  • Saw modest movement, as tech giants faced some resistance amid profit-taking

• Russell 2000:

  • Closed at 2,434.97, increasing by 35.33 points or 1.47%
  • Strong performance among small-cap stocks, driven by renewed investor interest in growth-focused sectors

S&P 500 Live Chart

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Skerdian Meta

Lead Analyst

Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.

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