Despite the sharply higher-than-expected PPI inflation data today, buyers were not deterred in the broader equity market. Both the S&P 500 and NASDAQ continued to push higher, even as Treasury yields moved up, with the 10-year yield trading just below 4.50% at 4.470% and the 30-year yield moving back above the 5.0% level to 5.04%.
Both indices closed at record levels. The NASDAQ finished above its previous record closing high from May 11 at 26,274.13, ending the day at 26,402.34. The S&P 500 also closed at a new all-time high, surpassing its prior record close from May 11 at 7,412.85 and settling at 7,444.26.
In contrast, the Dow Jones Industrial Average lagged behind the broader market. The index closed lower on the day and remained comfortably below its record closing level from May 10 at 50,188.14. The high price for the session reached 49,752.97, staying below the key 50,000 milestone. Meanwhile, the Russell 2000 ended the day near unchanged.
The final numbers for the indices are showing:
- Dow industrial average closed down -68.01 points or -0.14% at 49697.96
- S&P index rose 43.27 points or +0.58% at 7444.24
- NASDAQ index rose 314.14 points or 1.20% at 26402.34
- Russell 2000 rose 1.101 points or 0.04% at 2843.93
Some of the biggest winners and losers shows:
- Nebius NV +17.86%
Ford Motor +13.59%
Marvell +8.45%
Alibaba ADR +7.80%
- Baidu +7.62%
- Tencent ADR +5.78%
- Corning +5.73%
- Ambarella +5.63%
- Arm +5.61%
- On Holding +4.43%
- ASML ADR +4.38%
- Texas Instruments +4.33%
- Micron +4.01%
Biggest losers today
- Apple -6.72%
- Chewy -5.76%
- Moderna -5.47%
- Celsius -5.27%
- Palantir -4.59%
- Shopify Inc -4.29%
- Intuit -3.92%
- SharkNinja -3.75%
- Papa John’s -3.58%
- Salesforce Inc -3.22%
- SoFi Technologies -3.11%
