The S&P 500 closed at 7,674.37, up 33.21 points, or 0.43%, on the day. Breadth was positive, with 331 of the index's 502 members finishing higher, and concentration sat at a moderate 34%, putting the session in mixed mode rather than a narrow, single-stock affair.
Tesla did the most for the index, adding 5.88 points on a 5.14% gain. Alphabet's two share classes followed, with the A shares up 1.22% for 2.98 points and the C shares up 1.05% for 2.06 points; together the two classes contributed just over 5 points. Broadcom added 2.56 points and Microsoft another 1.92. On the other side, Nvidia was the heaviest drag at negative 6.45 points on a 0.98% decline, with Apple, Amazon, Marvell, and Intel all subtracting as well.
The Dow
The Dow closed at 53,277.00, up 517.79 points, or 0.98%, with 21 of its 30 members higher. Concentration ran to 64%, a narrow session, and the day's move sits at the 88th percentile of the past year, which qualifies as a large move for this index. Goldman Sachs was responsible for the bulk of it, adding 222.65 points on a 3.74% gain, more than a third of the index's total advance by itself. Caterpillar contributed 73.88 points, with Amgen, Visa, and UnitedHealth each adding in the 30-point range. Honeywell was the top drag at negative 14.38 points, and Nvidia, Apple, Amazon, and Travelers all pulled the other way. The divergence from the S&P story is plain: where the broader index leaned on Tesla and megacap tech, the Dow's day belonged to Goldman Sachs and Caterpillar, with financials and industrials doing work that barely registers in the S&P's own top contributors.
The Nasdaq 100
The Nasdaq 100 closed at 29,308.86, up 95.7 points, or 0.33%, with 63 of 102 members higher. Concentration was high at 86%, and the move ranks at the 55th percentile of the past year, an ordinary session by this index's own history. Tesla again led, worth 34.97 points here, with Alphabet's two classes adding 25.35 and 21.68 points; combined, the two Alphabet share classes contributed 47.03 points to this index, a larger sum than in the S&P given the Nasdaq 100's tighter membership. Space Exploration Technologies added 20.13 points and Broadcom another 10.5. Nvidia's drag was steeper here too, at negative 25.74 points, with Apple, Amazon, Marvell, and Intel rounding out the losers. The gap with the S&P is one of scale: the same names drove and dragged both indexes, but the Nasdaq 100's narrower membership meant Tesla, Alphabet, and Nvidia each moved the needle several times harder than they did in the broader index.
The sectors
It was a split session across the eleven sectors. Materials, Health Care, and Consumer Discretionary all gained more than a percent, Financials and Consumer Staples posted smaller advances, and Technology and Industrials barely moved. Real Estate and Energy slipped fractionally while Utilities fell hard.
Materials was the day's strongest sector, up 2.1% for 1.1 points, led by Freeport-McMoRan, which gained 7.65% and added 0.23 points to the sector.
Utilities was the weakest sector by a wide margin, down 2.31% for negative 1.01 points, with Sempra the main drag at negative 5.12% and negative 0.10 points.
Set against the past year, the S&P 500's 0.43% gain sits at the 68th percentile, an unremarkable session for that index even as the Dow's 0.98% advance, at the 88th percentile, stands out as one of its larger moves of the stretch. The Nasdaq 100, at the 55th percentile, was closer to the middle of its own range.
The numbers
- The S&P 500 closed at 7,674.37, up 33.21 points, or 0.43%, with 331 of 502 members higher.
- The Dow closed at 53,277.00, up 517.79 points, or 0.98%, a move at the 88th percentile of the past year.
- The Nasdaq 100 closed at 29,308.86, up 95.7 points, or 0.33%, with concentration at 86%.
- Goldman Sachs was the single biggest driver of the day, adding 222.65 points to the Dow on a 3.74% gain.
- Nvidia was the biggest drag across all three indexes, subtracting 25.74 points from the Nasdaq 100 and 6.45 points from the S&P 500.
- Materials was the strongest sector, up 2.1%, led by Freeport-McMoRan's 7.65% gain.
- Utilities was the weakest sector, down 2.31%, dragged by Sempra's 5.12% decline.
- Concentration in the Dow reached 64%, a narrow session, versus 34% in the S&P 500's mixed one.
From Babylon Burns
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