Market close overview
U.S. stocks finished the session mixed on Thursday. The Dow Jones Industrial Average rose 1.73% and closed at a new all-time high. The S&P 500 ended the day up 0.41%, while the Nasdaq Composite finished down 0.09%.
Sectors and leadership
The day featured a clear split across sectors. Gains were concentrated in Healthcare, Financials and Industrials, which collectively pushed several large-cap issues higher. By contrast, Telecoms, Technology and Consumer Goods showed weakness and were among the primary drags on the broad market results.
Notable movers on the Dow
On the Dow Jones Industrial Average, UnitedHealth Group (NYSE:UNH) led gains with a 5.18% advance, adding 19.52 points to finish at 396.52. Goldman Sachs Group Inc (NYSE:GS) climbed 4.91%, or 51.11 points, to close at 1,092.13. Merck & Company Inc (NYSE:MRK) rose 4.86%, gaining 5.58 points to end the session at 120.28.
At the other end of the Dow, Verizon Communications Inc (NYSE:VZ) fell 3.82%, losing 1.78 points to close at 44.87. Honeywell International Inc (NASDAQ:HON) declined 2.52%, or 5.62 points, to 217.64, and Coca-Cola Co (NYSE:KO) slipped 2.44%, down 1.92 points to 76.84.
S&P 500 winners and losers
Among S&P 500 constituents, Blackstone Inc (NYSE:BX) was the session's top performer, rising 7.50% to 118.55. Humana Inc (NYSE:HUM) gained 6.80% and closed at 349.80, while Axon Enterprise Inc (NASDAQ:AXON) added 6.59% to finish at 513.20.
Conversely, Broadcom Inc (NASDAQ:AVGO) recorded the largest decline in the S&P 500, falling 12.56% to 419.03. Micron Technology Inc (NASDAQ:MU) dropped 7.63% to settle at 997.17, and Aptiv PLC (NYSE:APTV) retreated 5.08% to close at 72.92.
Nasdaq breadth and extremes
On the Nasdaq Composite, a handful of names posted extreme percentage moves. The top gainers included Solidion Technology Inc (NASDAQ:STI), which jumped 348.61% to 22.61; Indaptus Therapeutics Inc (NASDAQ:INDP), which rose 114.93% to 4.75; and Veru Inc (NASDAQ:VERU), which gained 88.00% to end at 4.23.
Significant declines on the Nasdaq included Hub Cyber Security Ltd (NASDAQ:HUBC), which fell 69.07% to 0.20; Sleep Number Corp (NASDAQ:SNBR), down 67.13% to 0.35; and SU Group Holdings Ltd (NASDAQ:SUGP), which dropped 40.17% to 0.70.
Market breadth and notable price action
On the New York Stock Exchange, advancing issues outnumbered decliners by 1,900 to 817, with 112 stocks unchanged. On the Nasdaq, 2,226 stocks rose, 1,187 declined and 180 finished unchanged.
Humana reached a 52-week high, rallying 6.80% or 22.26 to 349.80. Goldman Sachs rose to an all-time high, increasing 4.91% or 51.11 to 1,092.13. Sleep Number fell to a five-year low after losing 67.13% or 0.71 to 0.35.
Volatility, commodities and currencies
The CBOE Volatility Index, which measures implied volatility of S&P 500 options, fell 4.17% to 15.39.
In commodities, Gold Futures for August delivery were reported up 0.83% or 37.22 to $4,504.12 a troy ounce. Crude oil for July delivery declined 3.11% or 2.99 to $93.03 a barrel, and the August Brent oil contract fell 2.63% or 2.57 to $95.24 a barrel.
In currency markets, EUR/USD was reported unchanged at 0.09% to 1.16, while USD/JPY rose 0.06% to 160.04. The US Dollar Index Futures were down 0.08% at 99.43.
Session takeaway
Thursday's session produced a mix of broad-market gains and sector-specific weakness. The Dow's new record close was driven by several strong performances among large-cap names, while notable declines in technology and consumer staples names contributed to a modest loss for the Nasdaq. Market breadth showed more advancing issues than decliners on both exchanges, and volatility as measured by the VIX eased.