Tech Stocks Drive Nasdaq Composite to 22nd Record Close, While Dow Jones Struggles
U.S. equities ended the day mixed, with the Nasdaq and S&P 500 setting fresh records while the Dow closed lower under pressure from...
Quick overview
- U.S. equities closed mixed, with the Nasdaq and S&P 500 reaching new record highs while the Dow fell due to declines in major stocks.
- The Nasdaq Composite rose 80 points to 21,880, marking its 22nd record close, driven by optimism in growth equities amid weaker job market data.
- Oracle's stock surged 35.95% despite slightly missing Q2 earnings expectations, as investors reacted positively to strong forward guidance.
- The Dow faced headwinds with 21 of its 30 components declining, led by significant drops in companies like Apple and Amazon, reflecting caution in consumer demand.
Live NAS100 Chart
U.S. equities ended the day mixed, with the Nasdaq and S&P 500 setting fresh records while the Dow closed lower under pressure from heavyweight declines.
Nasdaq and S&P 500 Extend Records
The Nasdaq Composite Index climbed another 80 points to close at 21,880, marking its 22nd record close, while the S&P 500 also advanced to finish at a new all-time high. The momentum was driven by renewed optimism in growth equities, as weaker U.S. job market data reinforced expectations that the Federal Reserve may cut rates as early as next week.
NDX Composite Chart Daily – Upside Momentum Continues
Oracle Steals the Spotlight
Oracle (ORCL) was the day’s standout performer, skyrocketing 35.95% to $328.33, adding nearly $87 in value. The surge came despite the company slightly missing Q2 earnings expectations, with revenue at $14.93 billion (vs. $15.04 billion expected) and EPS at $1.47 (vs. $1.48 forecast). Investors instead focused on strong forward guidance, which triggered a wave of demand and lifted sentiment for broader growth stocks.
Closing Levels – Main US Stock Indices
- Dow Jones Industrial Average: Fell −220.42 points (−0.48%) to close at 45,490.92.
- S&P 500: Gained +19.43 points (+0.30%), finishing at 6,532.04.
- Nasdaq Composite: Rose +6.57 points (+0.03%) to end at 21,886.06.
Major Dow Jones Losers
- Salesforce Inc. (CRM): −3.77%
- Amazon.com (AMZN): −3.31%
- Apple (AAPL): −3.23%
- McDonald’s (MCD): −2.10%
- Walmart (WMT): −1.84%
- Visa A (V): −1.67%
Dow Jones Faces Headwinds
In contrast, the Dow Industrial Average closed in the red, weighed down as 21 of its 30 components ended lower. Big names like Apple, Amazon, and McDonald’s dragged the index down, reflecting investor caution over consumer demand and earnings sustainability. Meanwhile, chipmakers shined: Nvidia rose 3.81%, Broadcom jumped 9.77% (+$32.90), and AMD climbed 2.39%, underscoring the resilience of the semiconductor sector.
Market Outlook
The split performance highlights a tug-of-war between defensive blue-chip stocks and high-growth technology names. With rate cut expectations rising and inflation data due later this week, investors remain in a balancing act between optimism on policy support and concerns over economic softness. If the Fed confirms easing intentions, the Nasdaq’s record streak may extend further, though the Dow’s weakness signals caution around more traditional sectors.
Nasdaq Futures Live Chart
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