The Dow Jones Industrial Average clawed back part of Thursday’s loss on July 24, rising 0.46% even as technology shares extended their slide. Memory maker Sandisk sank almost 11% and the Nasdaq slipped again, leaving the S&P 500 lower for a second straight week.
The Dow Jones Industrial Average added 0.46% to 51,947 on July 24, recovering a portion of its Thursday loss. The S&P 500 edged up 0.05% to 7,412, but the Nasdaq Composite slipped 0.64% to 24,976 on continued tech weakness.
By sector, the moves were uneven. Real Estate and financial services led the gainers, while technology stocks fell 2.37%. Meanwhile, gold rose 0.15% to $4,056.30 by the U.S. close, and the 10-year Treasury yield fell to 4.68%.
Memory and chip stocks lead the decliners
Semiconductor names set the tone for the session’s losses. Intel fell 6.5% as investors looked past a quarterly earnings beat, and Sandisk dropped almost 11% alongside other memory stocks. Space Exploration Technologies stumbled ahead of another key test flight.
Cheaper oil eases some pressure
Falling energy costs gave the Dow room to recover. WTI crude oil retreated 2.25% to $90.12, easing inflation fears slightly, though growing disruption to oil supply chains and new global tariffs keep investors nervous. Concerns over high artificial intelligence spending continue to weigh on tech stocks.
That caution shows up across the broader tape. The S&P 500 finished in the red for a second straight week, and over the past month the Nasdaq has fallen by almost 2%. Bank of America’s Bull & Bear Indicator, a gauge of market sentiment, hit its highest level since 2021 — a strong sell signal that has often preceded market selloffs.
Source: The Motley Fool
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