Nasdaq, S&P 500 close lower, weighed by tech stocks, Dow ends up
Tue July 1, 2025 5:33 PM
For years now, there have been concerns that with a handful of tech companies that dominate the market, should they go south, could crash the market out. That was the sentiment today as both the Nasdaq and S&P pulled back substantially from their recent rallies. And as tech goes south so industrials go north as funds flow out of risky assets into safer havens and the Dow had another very big 3-digit day. Investors were playing a tug-of-war between the concentration in tech and optimism over expected stimulus from the new budget bill, but also weighing that against the enormous cost of the bill.
And even though the tariff wars generally have everyone nervous, Trump’s announcement today of no extension on the July 9th deadline was actually taken as good news that at least now there’s less uncertainty in the environment. New data also showed an unexpected increase in job openings in May, suggesting the job market had more resilience than previously thought. Next up is Thursday’s payrolls reports, at which time the whole rate cut debate may be revisited. Per the CBOE, volume came in at 18.5 billion, slightly above the 18.2 billion average.
DJ: 44,094.77 +275.50 NAS: 20,369.73
+96.28 S&P: 6,204.95
+31.88 6/30
DJ: 44,494.94 +400.17 NAS: 20,202.89
-166.84 S&P: 6,198.01
-6.94 7/1
Tue 7-1-25 5:33 pm Nasdaq, S&P 500 close lower, weighed by tech stocks, Dow ends up | Reuters
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