Dow Jones (DJIA) Stalls, Nasdaq Leads as Palantir, Tesla, Alphabet Rally
Dow Jones ended Thursday on a mixed note, while Nasdaq rose on renewed strength in tech leaders while semiconductors weighed on broader...
Quick overview
- The Dow Jones ended nearly unchanged, while the Nasdaq rose due to strength in tech stocks despite pressure on semiconductors.
- Investors are cautious ahead of upcoming macro data and Fed commentary, focusing on earnings momentum and long-term growth stories.
- Notable gainers in the Nasdaq included Pinduoduo, Tesla, and Palantir, while semiconductor stocks like ASML and Texas Instruments faced declines.
- Looking ahead, market direction will be influenced by economic uncertainties, inflation data, and the Fed's rate path.
Dow Jones ended Thursday on a mixed note, while Nasdaq rose on renewed strength in tech leaders while semiconductors weighed on the broader market.
The U.S. equity market wrapped up Thursday with a mixed tone. While the Dow and S&P 500 hovered near flatline, the Nasdaq’s advance signaled selective risk-on appetite, primarily in tech names. Investors appeared cautious ahead of further macro data and Fed commentary, while selectively chasing earnings momentum and long-term secular growth stories.
That came in the aftermath of the US House passing a deficit-ballooning bill in Congress and sending it to the Senate. In the bond market. US 30-year yields hit 5.16%, which is just below the 2023 high and the highest levels since 2007. However that cap held and some buyers started to weigh in from there and yields slowly fell to 5.05%.
Dow Jones Chart Daily – MAs Haven’t Been Broken Clearly Yet
Semiconductor-related names saw notable pressure, reflecting possible valuation concerns and investor rotation out of overbought areas. At the same time, mega-cap techs winners continue to provide a floor for risk sentiment, and names like Palantir, Tesla, and Alphabet are gaining renewed traction.
Major U.S. Index Closings – Flat to Mixed Finish
- Dow Jones Industrial Average ended nearly unchanged, slipping -1.35 points to close at 41,859.09, reflecting a subdued session for blue-chip stocks.
- S&P 500 fell modestly by -2.6 points (-0.04%), finishing at 5,842.01, showing slight weakness in broader markets.
- Nasdaq Composite stood out with a gain of +53.09 points (+0.28%), closing at 18,925.73, led by tech strength and selective buying in AI and semiconductor names.
Notable Nasdaq Gainers
- Pinduoduo (PDD) surged +3.10%, continuing its strong momentum in the Chinese e-commerce space.
- Tesla (TSLA) gained +1.89%, supported by improving sentiment around EV demand and cost efficiencies.
- Palantir (PLTR) rose +1.42%, buoyed by continued AI optimism and recent government contract wins.
- Alphabet (GOOGL) added +1.37%, reflecting resilience in big tech amid rising advertising revenues.
- Arm Holdings (ARM) increased +1.30%, as chip design stocks benefited from long-term AI exposure.
- Booking Holdings (BKNG) and Intuit (INTU) each gained +0.92%, supported by strong travel and software demand respectively.
Top Nasdaq Decliners
- ASML Holding (ASML) declined –4.05%, as chip equipment makers faced profit-taking pressures.
- Texas Instruments (TXN) and Qualcomm (QCOM) dropped –2.85% and –2.60%, respectively, on weak guidance and macro concerns.
- Analog Devices (ADI) and CrowdStrike (CRWD) slipped –2.03% and –2.15%, amid sector-wide softness in semis and cybersecurity stocks.
- Intel (INTC) also pulled back –1.05%, continuing its recent underperformance in the chip space.
S&P 500 Top Gainers
- Palo Alto Networks (PANW) led the pack with a gain of +2.66%, extending its rally on heightened cybersecurity spending.
- Tesla (TSLA) and Palantir (PLTR) both featured among the best performers with notable upward moves.
- Alphabet (GOOGL) and Workday (WDAY) also contributed positively, each gaining over 1%.
- Intuit (INTU) and Booking Holdings (BKNG) rounded out the top performers in tech and travel.
S&P 500 Top Losers
- KLA Corp (KLAC) fell –4.15%, leading losses in chip equipment makers.
- ASML Holding (ASML) mirrored the decline, down –4.05%, amid concerns over slowing semi capex.
- UnitedHealth Group (UNH) dipped –2.08%, as regulatory uncertainty weighs on the healthcare sector.
- Semiconductor giants Qualcomm (QCOM), Texas Instruments (TXN), and Analog Devices (ADI) all dropped over 2%, showing weakness in the broader chip segment.
- Micron Technology (MU) slid –1.05%, joining the broader pullback in memory stocks.
Market Conclusion & Outlook
Looking forward, the balance between market enthusiasm and economic uncertainties is likely to guide market direction. As earnings season winds down, traders will increasingly turn their focus to inflation data, Fed rate path clarity, and geopolitical developments.
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