The S&P 500 closed at 7,690.73, up 31.29 points, a gain of 0.41 percent. Breadth was not behind the move: only 173 of the index's 496 members were higher, a minority, which puts the index squarely in divergence mode, where a handful of large names carried the tape while most stocks sat still or slipped. The equal-weight version of the index fell 0.34 percent, underscoring how uneven the session was underneath the headline number.
Amazon did the heavy lifting, adding 14.51 points on a 4.98 percent gain, more than four times the next largest contributor. Nvidia added 8.81 points, Tesla 4.52, Microsoft 4.10, and Micron 3.56. On the other side, JPMorgan Chase subtracted 2.09 points, Eli Lilly 1.66, Meta Platforms 1.07, Apple 0.95, and Philip Morris International 0.83. None of these individual moves came close to offsetting Amazon's contribution.
The Dow
The Dow closed at 51,966.03, down 36.38 points, a decline of 0.07 percent, essentially flat. Breadth told a weaker story than the index level suggests: only 12 of the Dow's 30 members closed higher. The index's concentration reading of 314 percent reflects how a few price-weighted names can swing the average sharply in either direction, and today that cut against the Dow even as Amazon, also a Dow component, added 74 points and was by far the single largest positive contributor, followed by UnitedHealth at 32.39, Microsoft at 26.57, IBM at 25.26, and Alphabet at 21.34. Those gains were nearly erased by Amgen's 44.87-point drag, JPMorgan Chase's 36.79, Goldman Sachs's 32.57, Caterpillar's 29.54, and Travelers's 24.31. This is the clearest divergence from the S&P 500 story: the same Amazon gain that pushed the S&P 500 higher wasn't enough to lift the Dow, because the Dow's math gave more weight to the losers on the other side of the ledger.
The Nasdaq 100
The Nasdaq 100 closed at 29,529.34, up 341.79 points, a gain of 1.17 percent, the strongest showing of the three indexes today. Breadth was closer to even here, with 58 of 100 members higher, and the equal-weight read was positive at 0.61 percent, a contrast with the S&P 500's equal-weight decline. Amazon again led, contributing 83.93 points, followed by Nvidia at 44.59 and Tesla at 32.93. Alphabet's two share classes together added 52.28 points, with GOOGL contributing 27.44 and GOOG 24.84. On the downside, Meta Platforms subtracted 6.19 points, Apple 4.74, Amgen 2.55, Gilead Sciences 2.42, and Cisco Systems 2.19. Unlike the S&P 500, where the move rested almost entirely on Amazon, the Nasdaq 100's gain was broader, with real participation beneath the top names.
The sectors
Among the eleven sectors, the split was straightforward: two sectors tied to the day's big movers rose, and the other nine fell by varying degrees.
Consumer Discretionary was the day's strongest sector, up 1.76 percent, with Amazon contributing 1.27 points of that move, consistent with its outsized role across every index today. Technology followed at 1.32 percent, led by Nvidia's 0.40-point contribution.
Utilities was the weakest sector, down 1.97 percent, with NextEra Energy subtracting 0.11 points as the top drag. Real Estate, Financials, and Industrials also finished lower, with JPMorgan Chase and Deere & Co among the names weighing on those groups.
None of today's index moves were large by the past year's standard. The S&P 500's 0.41 percent gain sits at the 67th percentile of moves over the past year, the Dow's near-flat 0.07 percent decline sits at the 44th percentile, and the Nasdaq 100's 1.17 percent gain sits at the 83rd percentile, a notable session but just short of the 85th-percentile threshold for a large move.
The numbers
- The S&P 500 closed at 7,690.73, up 31.29 points or 0.41 percent, with only 173 of 496 members higher.
- The Dow closed at 51,966.03, down 36.38 points or 0.07 percent, with just 12 of 30 members higher.
- The Nasdaq 100 closed at 29,529.34, up 341.79 points or 1.17 percent, with 58 of 100 members higher.
- Amazon was the single biggest driver across the session, adding 14.51 points to the S&P 500, 74 points to the Dow, and 83.93 points to the Nasdaq 100.
- Amgen was the Dow's biggest drag, subtracting 44.87 points on a 1.75 percent decline.
- Consumer Discretionary was the day's strongest sector, up 1.76 percent, led by Amazon.
- Utilities was the day's weakest sector, down 1.97 percent, led lower by NextEra Energy.
- The S&P 500's move ranks at the 67th percentile versus the past year; the Nasdaq 100's move ranks at the 83rd percentile.
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