NASDAQ and S&P 500 Reach New Record Amid Inflation Concerns, as Dow Jones Hangs Below 50K
Despite hotter-than-expected producer inflation figures and rising Treasury yields, the S&P 500 and NASDAQ reached new all-time highs.
Quick overview
- The S&P 500 and NASDAQ reached new all-time highs despite stronger-than-expected producer inflation data.
- Treasury yields increased as traders adjusted their expectations for future Federal Reserve policy.
- The Dow Jones Industrial Average underperformed, closing lower and failing to reach the 50,000 milestone.
- Notable winners included Nebius NV and Ford Motor, while Apple and Chewy were among the biggest losers.
Live DOW Chart
Despite hotter-than-expected producer inflation figures and rising Treasury yields, the S&P 500 and NASDAQ reached new all-time highs.
Stocks Continue Climbing Despite Inflation Surprise
U.S. equities remained resilient following the release of stronger-than-expected Producer Price Index data, which reignited concerns about persistent inflation pressures. Despite the inflation surprise, buyers continued pushing major technology-focused indices higher throughout the session.
Treasury yields also moved upward as traders adjusted expectations for future Federal Reserve policy. The 10-year Treasury yield traded near 4.47%, while the 30-year yield climbed back above the important 5.0% level to 5.04%.
NASDAQ and S&P 500 Reach New Highs
The broader market showed continued momentum, with both the NASDAQ and S&P 500 closing at fresh all-time highs.
The NASDAQ Composite finished the session at 26,402.34, surpassing its previous record closing high from May 11 at 26,274.13. Meanwhile, the S&P 500 ended at 7,444.26, breaking above its earlier record close of 7,412.85.
Nasdaq Chart Daily – Extending the Massive Surge
The strong performance reflected ongoing investor appetite for large-cap growth and technology shares despite rising yields.
Dow Jones and Small Caps Lag Behind
In contrast, the Dow Jones Industrial Average underperformed and closed lower on the day. The index reached an intraday high of 49,752.97 but remained below the major 50,000 milestone and well under its record closing high from May 10.
The Russell 2000 also lagged broader market strength, ending the session close to unchanged.
The final numbers for the indices are showing:
- Dow industrial average closed down -68.01 points or -0.14% at 49697.96
- S&P index rose 43.27 points or +0.58% at 7444.24
- NASDAQ index rose 314.14 points or 1.20% at 26402.34
- Russell 2000 rose 1.101 points or 0.04% at 2843.90
Some of the biggest winners and losers shows:
- Nebius NV +17.86%
- Ford Motor +13.59%
- Marvell +8.45%
- Alibaba ADR +7.80%
- Baidu +7.62%
- Tencent ADR +5.78%
- Corning +5.73%
- Ambarella +5.63%
- Arm +5.61%
- On Holding +4.43%
- ASML ADR +4.38%
- Texas Instruments +4.33%
- Micron +4.01%
Biggest losers today
- Apple -6.72%
- Chewy -5.76%
- Moderna -5.47%
- Celsius -5.27%
- Palantir -4.59%
- Shopify Inc -4.29%
- Intuit -3.92%
- SharkNinja -3.75%
- Papa John’s -3.58%
- Salesforce Inc -3.22%
- SoFi Technologies -3.11%
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