US Stocks Experience Mixed Results as Dow Hits Record High, Technology Sector Lags

US Stock Market Bounces Back After Volatility Amid Rate Cut Speculations

Key Points:

  • The Dow Jones Industrial Average rose by 0.12%, the S&P 500 index gained 0.11%, and the NASDAQ Composite index fell by 0.12%.
  • Among the top Dow Jones Industrial Average performers were 3M Company, Walt Disney Company, and Verizon Communications Inc.
  • On the S&P 500, Estee Lauder Companies Inc., AES Corporation, and Boston Properties Inc. were the top gainers.
  • Avalo Therapeutics Inc., Biodexa Pharmaceuticals PLC DRC, and CERo Therapeutics Holdings Inc. were the top performers in NASDAQ Composite trading.

U.S. stocks closed on a mixed note last Friday, with some sectors witnessing gains while others faced losses. The Oil & Gas, Utilities, and Telecoms sectors saw increases, driving shares higher, whereas the Technology, Consumer Goods, and Consumer Services sectors experienced declines.

At the close of trading on the New York Stock Exchange (NYSE), the Dow Jones Industrial Average climbed by 0.12%, reaching a new all-time high. The S&P 500 index also registered a gain of 0.11%, while the NASDAQ Composite index dipped by 0.12%.

Among the top performers on the Dow Jones Industrial Average were 3M Company (NYSE:MMM), which rose by 1.42%, Walt Disney Company (NYSE:DIS) with a 1.14% increase, and Verizon Communications Inc (NYSE:VZ) which went up by 1.01%. Conversely, Apple Inc. (NASDAQ:AAPL) saw a decline of 1.06%, followed by Walmart Inc. (NYSE:WMT), which dropped 0.91%, and Amgen Inc. (NASDAQ:AMGN), which fell 0.69%.

On the S&P 500, Estee Lauder Companies Inc (NYSE:EL) saw a significant increase of 6.28%, followed by The AES Corporation (NYSE:AES) and Boston Properties Inc (NYSE:BXP) with gains of 3.94% and 3.42%, respectively. Carnival Corporation (NYSE:CCL) experienced the most significant decline on the S&P 500, dropping by 4.94%. It was followed by Moderna Inc (NASDAQ:MRNA) and ON Semiconductor Corporation (NASDAQ:ON), which lost 3.64% and 2.72%, respectively.

In NASDAQ Composite trading, Avalo Therapeutics Inc (NASDAQ:AVTX) surged by 357.89%, followed by Biodexa Pharmaceuticals PLC DRC (NASDAQ:BDRX) and CERo Therapeutics Holdings Inc (NASDAQ:CERO), which gained 88.59% and 88.34%, respectively. Primech Holdings Ltd (NASDAQ:PMEC) experienced the most significant decline on the NASDAQ Composite, falling by 66.75%. It was followed by Tonix Pharmaceuticals Holding Corp (NASDAQ:TNXP) and Gamida Cell Ltd (NASDAQ:GMDA), which lost 43.10% and 39.02%, respectively.

The CBOE Volatility Index, indicating the implied volatility of S&P 500 options, remained steady at 13.01, showing no change.

Gold Futures for June delivery surged by 1.90%, or $42.10, reaching $2,254.80 per troy ounce. In commodities trading, Crude oil for May delivery climbed by 2.16%, or $1.76, reaching $83.11 per barrel, while the June Brent oil contract edged up by 0.05%, or $0.04, trading at $86.99 per barrel. EUR/USD held steady, showing no change at 1.08, while USD/JPY dipped by 0.01% to 151.35. The US Dollar Index Futures advanced by 0.20% to 104.27.

TechGolly editorial team led by Al Mahmud Al Mamun. He worked as an Editor-in-Chief at a world-leading professional research Magazine. Rasel Hossain and Enamul Kabir are supporting as Managing Editor. Our team is intercorporate with technologists, researchers, and technology writers. We have substantial knowledge and background in Information Technology (IT), Artificial Intelligence (AI), and Embedded Technology.

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