July 24 Stock Market Update: Dow Recovers While Tech Stocks Fall
On July 24, the stock market showed mixed performance with the Dow Jones Industrial Average rising by 0.46% to recover some of its previous day's losses. The S&P 500 edged up slightly at 0.05%, while the Nasdaq Composite fell further due to continued weakness in tech stocks, dropping 0.64%. Gold prices rose and Treasury yields declined as investors sought safer assets amid economic uncertainty. Technology sector struggles were notable with Intel shares falling by 6.5% despite beating earnings expectations, and Sandisk Corporation declining nearly 11%, reflecting broader pressure on memory stock valuations. WTI crude oil dropped slightly to $90.12 per barrel, offering some relief from inflation concerns but not enough to ease investor nerves about global supply chain disruptions. The S&P 500 ended the week in negative territory for a second consecutive week and the Nasdaq has fallen nearly 2% over the past month. Bank of America’s Bull & Bear Indicator reached its highest level since 2021, signaling extreme bullishness that often precedes market corrections.
Tickers: $BAC $INTC $SNDK $SPCE
Topics: Dow Jones Industrial Average Nasdaq Composite oil prices S&P 500 tech stocks