The S&P 500 closed at 7,748.50, up 20.30 points, or 0.26%, on the day. Breadth was positive without being lopsided, with 261 of the index's 501 members finishing higher.
Nvidia was the largest single contributor, adding 21.79 points on a 3.03% gain. Micron added 6.46 points, Lam Research 2.47, Applied Materials 2.41 and Intel 2.08, a run of chip names filling out the top of the ledger. Microsoft pulled the other way, subtracting 12.16 points on a 2.26% decline, with Amazon at -7.00, Meta at -6.48, Apple at -5.54 and Tesla at -2.13 rounding out the drag list.
The Dow
The Dow closed at 53,770.00, down 21.85 points, or 0.04%, essentially flat on the session. Breadth inside the index was split, with just 15 of its 30 members finishing higher.
Microsoft again led the drags, subtracting 67.64 points here. Home Depot was close behind, falling 3.12% and costing the index 65.68 points. Travelers took off 32.39 points, Amazon 29.66 and Sherwin-Williams 25.08. Caterpillar was the standout gainer, adding 72.69 points on a 1.45% rise. Nvidia contributed 39.17 points to the Dow's tally, Honeywell 31.03, Cisco 20.51 and UnitedHealth 20.21. This is where the Dow's story splits from the S&P's: Home Depot, Travelers and Sherwin-Williams barely show up in the S&P's own top movers, yet they were among the heaviest drags here, and Caterpillar's gain has no counterpart at all in the S&P's leaderboard.
The Nasdaq 100
The Nasdaq 100 closed at 29,742.60, up 217.12 points, or 0.74%, the strongest showing of the three indexes today. Breadth was just over half positive, with 51 of its 101 members higher.
SpaceX Exploration Technologies added 138.99 points on a 9.65% jump, the single largest point contribution across all three indexes covered today. Nvidia added 130.75 points here, Micron 39.60, Walmart 17.94 and Lam Research 15.08. On the other side, Microsoft's drag was the largest of the day at -69.28 points, followed by Amazon at -44.13, Meta at -42.34, Apple at -31.83 and Tesla at -17.16. The divergence from the S&P and Dow is straightforward: SpaceX carries enough weight in this index to show up as its top mover, a name that does not appear in either of the other two leaderboards, and it was large enough to absorb the same megacap drag that only pinned the S&P near flat and pushed the Dow slightly negative.
The sectors
Technology led all eleven sectors today, while Materials brought up the rear. Real Estate, Utilities and Consumer Staples posted modest gains in between. Communication Services and Consumer Discretionary joined Materials in the red.
Technology gained 1.49%, or 2.77 points, with Nvidia its top driver, contributing 0.86 points on the sector's own gauge.
Materials fell 1.22%, or 0.65 points, with Linde its top drag, down 2.26% and costing the sector 0.16 points.
None of today's index moves stand out against the past year. The S&P 500's move sits at the 60th percentile of daily moves over that stretch, the Dow's at the 42nd, and the Nasdaq 100's at the 72nd, all well short of the threshold for a large move.
The numbers
- The S&P 500 closed at 7,748.50, up 20.30 points, or 0.26%, on the day.
- The Dow closed at 53,770.00, down 21.85 points, or 0.04%, on the day.
- The Nasdaq 100 closed at 29,742.60, up 217.12 points, or 0.74%, on the day.
- Breadth was 261 of 501 higher in the S&P 500, 15 of 30 higher in the Dow, and 51 of 101 higher in the Nasdaq 100.
- Nvidia was the single largest point contributor to both the S&P 500, at 21.79 points, and the Nasdaq 100, at 130.75 points.
- Microsoft was the largest single drag on all three indexes, subtracting 12.16 points from the S&P 500, 67.64 from the Dow, and 69.28 from the Nasdaq 100.
- Technology was the day's strongest sector, up 1.49%, while Materials was the weakest, down 1.22%.
- The S&P 500's move ranks at the 60th percentile of the past year's daily moves, not a large move by that measure.
From Babylon Burns
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