The S&P 500 closed at 7,543.59, up 28.25 points, or 0.38%, on the day. Breadth was unremarkable, with 200 of the index's 490 members finishing higher and the rest lower. The index's concentration reading came in at 153% with the day flagged as divergence: a small number of large positions carried the index while the equal weight version of the S&P 500 fell 0.38%, the opposite direction of the headline number.
Nvidia was the largest single contributor, adding 29.48 points on a 4.06% gain. Micron added 7.59 points on a 4.92% move, and the two Alphabet share classes together added 10.89 points. Goldman Sachs, up 9% on the session, contributed 3.90 points. On the other side, IBM subtracted 14.08 points after falling 25.21%, the steepest single drag in the index. Microsoft cut 7.00 points, Apple 5.55, Eli Lilly 3.50, and Citigroup 2.05.
The Dow
The Dow closed at 52,508.00, up just 9.36 points, or 0.02%, essentially flat. Breadth was the thinnest of the three indexes: only 10 of the 30 members rose. Equal weight fell 0.97%, underscoring how narrow the gain actually was.
Goldman Sachs's 9% surge added 559.23 points, the largest point contribution from any single stock in any of the day's three indexes. JPMorgan Chase added 49.69 points, Nvidia 49.15, Alphabet 41.61, and Caterpillar 11.11. IBM's 25.21% plunge subtracted 434.83 points, nearly canceling out Goldman's gain by itself; without those two positions offsetting each other, the Dow's session would read very differently. Microsoft, Amgen, Travelers, and Johnson & Johnson also weighed on the index, subtracting 36.02, 30.91, 27.82, and 23.30 points respectively.
The Nasdaq 100
The Nasdaq 100 closed at 29,586.29, up 322.19 points, or 1.10%, the strongest session among the three indexes tracked here. Breadth was soft, with 47 of 101 members higher, less than half. But the concentration reading of 81% and the divergence flag confirm this was a top heavy gain: equal weight rose just 0.08%, essentially nothing.
Nvidia's 4.06% gain contributed 142.13 points, the largest single driver across any index today. The two Alphabet classes together added 117.54 points. Micron added 36.99 points and Broadcom 17.10. On the downside, Microsoft cut 31.97 points, Space Exploration Technologies fell 2.2% for a 28.45 point drag, Apple slipped 25.55 points, Arm Holdings fell 5.96% for a 13.47 point loss, and Intuitive Surgical dropped 6.78%, costing 6.95 points. The Nasdaq's percentile reading of 84 sits well above the Dow's 45 and above the S&P's 65, the clearest sign that today's gain concentrated in a narrow slice of mega cap technology and chip names rather than spreading broadly.
The sectors
Of the eleven sector funds tracked, five advanced and six declined. Technology led with a 1.26% gain, Energy rose 0.38%, Financials 0.21%, Materials 0.14%, and Industrials 0.03%. On the losing side, Utilities slipped 0.09%, Consumer Discretionary and Communication Services each fell 0.13%, Real Estate dropped 0.48%, Consumer Staples fell 1.39%, and Health Care led decliners, down 1.93%.
Technology was the day's strongest sector, up 1.26% and adding 2.29 points, with Nvidia again the top driver, contributing 1.22 points on its 4.06% gain.
Health Care was the weakest sector, down 1.93% and losing 3.12 points. Eli Lilly was the top drag, falling 2.38% and subtracting 0.63 points from the sector.
None of today's index moves reached the 85th percentile threshold used here to call a session large. The S&P 500's 0.38% gain ranks at the 65th percentile of the past year, the Dow's flat 0.02% session ranks 45th, and the Nasdaq 100's 1.10% gain ranks 84th, just under that bar.
The numbers
- The S&P 500 closed at 7,543.59, up 28.25 points, or 0.38%, with 200 of 490 members higher.
- The Dow closed at 52,508.00, up 9.36 points, or 0.02%, essentially flat, with only 10 of 30 members higher.
- The Nasdaq 100 closed at 29,586.29, up 322.19 points, or 1.10%, with 47 of 101 members higher.
- Goldman Sachs was the single largest point driver of the day, adding 559.23 points to the Dow on a 9% gain.
- IBM was the day's biggest drag across every index it appears in, falling 25.21% and cutting 434.83 points from the Dow and 14.08 points from the S&P 500.
- Technology was the day's strongest sector, up 1.26%, led by Nvidia.
- Health Care was the day's weakest sector, down 1.93%, led lower by Eli Lilly.
- The Nasdaq 100's move ranked in the 84th percentile of the past year, the S&P 500's in the 65th percentile, and the Dow's in the 45th percentile.
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