The S&P 500 closed at 7,773.95, up 51.23 points, a move of 0.66% on the day. Breadth was positive, with 312 of the index's 497 members higher. Concentration sat at 49%, and the equal-weight version of the index moved 0.64%, close enough to the cap-weighted figure that this was a broadly shared advance rather than a handful of names carrying the tape.
Nvidia did the most work, adding 14.16 points on a 2.12% gain. Microsoft followed with 6.76 points on a 1.48% move, then Broadcom with 4.15 points, Meta with 3.61, and Tesla with 2.71. On the other side, Intel subtracted 1.93 points as it fell 2.63%, Micron gave back 1.51, Merck lost 1.47 on a 3.3% decline, Apple shed 1.41 despite only a 0.24% drop given its index weight, and Johnson & Johnson took off 0.91.
The Dow
The Dow closed at 51,267.90, up 90.94 points, or 0.18%, a far more muted result than the S&P's and one built on narrower footing. Breadth was mixed, with only 17 of 30 members higher, and concentration ran to 153%, a sign that the gainers and decliners were pulling in opposite directions with real force rather than drifting together. The equal-weight move of 0.19% confirms the index's advance leaned heavily on a short list of names.
Visa did the heaviest lifting, contributing 53.79 points on a 2.51% gain. Microsoft added 45.47 points, UnitedHealth 39.7, Nvidia 29.42, and Alphabet 17.65. Working against them, Goldman Sachs cut 54.09 points on a 1.01% decline, Salesforce dropped 29.12 points, Merck lost 28.29, Johnson & Johnson gave back 18.43, and Home Depot shed 10.1. Merck's drag shows up in all three indices today, a rare case of one laggard touching every major benchmark.
The Nasdaq 100
The Nasdaq 100 closed at 31,076.44, up 268.51 points, a move of 0.87%, the strongest of the three indices today. Breadth was positive but narrow, with 61 of 99 members higher, and concentration reached 62% against an equal-weight move of 0.82%, meaning a small group did most of the heavy lifting even as the broader membership also leaned higher.
Space Exploration Technologies was the single largest point contributor in the index today, adding 80.07 points on a 7.63% gain. Nvidia followed with 58.02 points, Microsoft with 27.63, and the two Alphabet share classes together added 38.37 points, 20.7 from the GOOG line and 17.67 from GOOGL. On the downside, Intel subtracted 8.07 points, Micron 6, Apple 5.68, Arm Holdings 2.38, and Qualcomm 2.08. The Nasdaq's divergence from the S&P's broader story is clear here: where the S&P's gain was distributed across sectors, the Nasdaq's was concentrated in a single new listing and a familiar set of chip and software names.
The sectors
All but one of the eleven sectors finished higher. Materials led with a 1.31% move, followed by Communication Services at 1.15% and Energy at 0.99%. Health Care rose 0.75%, Financials 0.71%, Consumer Staples 0.62%, Technology 0.59%, Consumer Discretionary 0.35%, and Utilities 0.33%. Industrials barely budged at 0.08%.
Materials was the day's strongest sector, moving 1.31% for 0.64 points, with Nucor the top driver on a 4.65% gain that added 0.14 points to the group. Real Estate was the lone decliner, off 0.37% for a loss of 0.15 points, with Welltower weighing it down as the stock fell 1.48%, subtracting 0.07 points.
Against the past year, today's S&P 500 move sits at the 78th percentile, a solid session but not an outsized one. The Dow's 0.18% gain ranks at the 58th percentile, and the Nasdaq 100's 0.87% move sits at the 76th percentile. None of the three qualifies as a large move by that measure, and the session reads as a broadly constructive day rather than a standout one.
The numbers
- The S&P 500 closed at 7,773.95, up 51.23 points or 0.66%, with 312 of 497 members higher.
- The Dow closed at 51,267.90, up 90.94 points or 0.18%, with breadth narrow at 17 of 30 members higher.
- The Nasdaq 100 closed at 31,076.44, up 268.51 points or 0.87%, with 61 of 99 members higher.
- Nvidia was the S&P 500's biggest driver, adding 14.16 points on a 2.12% gain.
- Intel was the S&P 500's biggest drag, subtracting 1.93 points on a 2.63% decline.
- Space Exploration Technologies Corp was the single largest point contributor in the Nasdaq 100, adding 80.07 points on a 7.63% gain.
- Materials was the strongest sector, up 1.31%, led by Nucor's 4.65% gain.
- Real Estate was the only sector to decline, down 0.37%, dragged by Welltower's 1.48% loss.
- The S&P 500's move ranks at the 78th percentile versus the past year, a solid but not an outsized session.
From Babylon Burns
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