The S&P 500 closed at 7,736.52, up 136.02 points, or 1.79%, on the day. Breadth was strongly positive, with 360 of the index's 503 members finishing higher. The gain was mixed in composition, with the top five contributors accounting for 30% of the index's move.
NVIDIA led with 15.68 points on a 2.56% gain, followed by Broadcom's 14.43 points on a 6.61% jump. Apple added 10.76 points, Micron added 8.29 points on a 7.62% surge, and Palantir contributed 8.22 points despite the index weighting; the stock itself rose 29.45%. On the other side, Amazon was the largest drag, subtracting 8.29 points on a 2.32% decline. UnitedHealth, NRG Energy, Chevron and Chipotle rounded out the small list of decliners, with NRG down 15.51% and Chipotle down 9.69%, though neither carries enough index weight to matter much at the S&P level.
The Dow
The Dow closed at 54,086.00, up 907.59 points, or 1.71%. Breadth was broad, with 25 of the index's 30 components higher, though concentration ran hotter here than in the S&P 500, with the top five names accounting for 55% of the move.
Caterpillar did the heavy lifting, adding 276.44 points on a 5.6% gain, more than any other stock in any of today's three indexes. Goldman Sachs added 154.06 points, Amgen added 66.27, IBM added 52.54 on a 3.91% move, and Home Depot added 48.86. UnitedHealth was the biggest drag at negative 46.42 points, followed by Amazon at negative 39.23, Chevron, Nike and Coca-Cola. The Dow's story diverges from the S&P's here: where the broader index spread its gains across chipmakers and Apple, the Dow's advance rode almost entirely on Caterpillar and Goldman Sachs.
The Nasdaq 100
The Nasdaq 100 closed at 29,733.16, up 956.36 points, or 3.32%, nearly double the S&P 500's percentage gain. Breadth was broad, with 84 of the index's 103 members higher.
Space Exploration Technologies led with 113.56 points on a 9.43% gain, followed by NVIDIA's 103.02 points, Broadcom's 99.09 points, Palantir's 71.26 points on its 29.45% surge, and Apple's 69.86 points. Amazon was again the largest drag, this time subtracting 57.18 points, far more than its impact on either the S&P 500 or the Dow given the Nasdaq 100's heavier weighting toward the stock. Meta, Costco, Intuitive Surgical and Constellation Energy also finished lower, but each by less than 5 points. The divergence from the S&P story is straightforward: the same chip and Palantir strength that lifted the broader index did more work here, and Amazon's weakness landed with more force.
The sectors
Ten of eleven sectors finished higher, led by a sharp move in technology and modest gains in materials and industrials, the latter powered by Caterpillar's rally. Financials, communication services and consumer staples posted smaller advances, while real estate, health care, energy and utilities slipped.
Technology was the day's strongest sector, up 4.98%, or 8.87 points, with Palantir the top named driver at 0.89 points on its 29.45% jump.
Utilities was the weakest sector, down 0.61%, or 0.27 points, dragged by NRG Energy's 0.15-point hit as the stock fell 15.51%.
Against the past year of sessions, today's moves stand out. The S&P 500's advance sits at the 98th percentile, the Dow's at the 97th, and the Nasdaq 100's at the 99th, making this a large session across all three benchmarks.
The numbers
- The S&P 500 closed at 7,736.52, up 136.02 points, or 1.79%, with 360 of 503 members higher.
- The Dow closed at 54,086.00, up 907.59 points, or 1.71%, with 25 of 30 components higher.
- The Nasdaq 100 closed at 29,733.16, up 956.36 points, or 3.32%, with 84 of 103 members higher.
- NVIDIA was the S&P 500's largest single contributor, adding 15.68 points on a 2.56% gain.
- Caterpillar was the single biggest point contributor of the day, adding 276.44 points to the Dow on a 5.6% gain.
- Amazon was the day's most consistent drag, subtracting 8.29 points from the S&P 500, 39.23 points from the Dow, and 57.18 points from the Nasdaq 100.
- Technology was the strongest sector, up 4.98%, led by Palantir's 29.45% surge.
- Utilities was the weakest sector, down 0.61%, weighed down by NRG Energy's 15.51% decline.
- The S&P 500's move ranks in the 98th percentile of sessions over the past year.
From Babylon Burns
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