Dow Gains on July 24 Amid Tech Stock Declines
On July 24, the Dow Jones Industrial Average recovered some of its previous day's losses with a gain of 0.46%, while the S&P 500 edged up slightly and the Nasdaq Composite fell due to continued weakness in tech stocks. Sandisk Corporation (NASDAQ:SNDK) dropped nearly 11% as memory-related shares declined, alongside Intel’s stock falling by 6.5%. Gold prices rose modestly, and Treasury yields dipped slightly. Investors remained cautious amid concerns over AI spending and global supply chain disruptions affecting oil markets. WTI crude fell to $90.12 per barrel, offering some relief from inflation fears but not easing broader anxieties about economic conditions. Bank of America's Bull & Bear Indicator reached its highest level since 2021, signaling a potential market correction. The S&P 500 ended the week in negative territory for the second consecutive week and has declined by nearly 2% over the past month. Analysts suggest reviewing investment portfolios to assess risk levels amid these uncertainties.
Topics: Dow Jones Nasdaq Composite S&P 500 Sandisk tech stocks