Stock Market Today, July 1: Meta Shakes Up Cloud Sector and Tech Stocks Weigh on Markets
Today, July 1, 2026, investors digested slower manufacturing data and the Fed's commitment to lower inflation amid a volatile session.
Overview
The Nasdaq Composite (NASDAQINDEX:^IXIC) fell 0.66% to 26,040.03 as tech profit-taking intensified, while the S&P 500 (SNPINDEX:^GSPC) slipped 0.22% to 7,483.23 on manufacturing growth concerns, and the Dow Jones Industrial Average (DJINDICES:^DJI) hit an intraday record high before finishing down 0.03% to 52,305.24.
Gold edged up 0.26% to $4,048.90 as of U.S. market close, while the 10-Year Treasury yield rose 0.06% to 4.48%. Communications and financial services stocks led sector gains, while industrials and tech stocks declined.
Details
Palantir Technologies climbed 8% on a deal with Nvidia. Meta Platforms surged on news that it would move into cloud computing. The news pressured infrastructure stocks like CoreWeave, which tumbled 14%. Memory stocks also dropped today: Both Micron Technology and Sandisk plummeted 11%, potentially due to profit-taking or AI demand jitters.
Source
Originally published at www.fool.com.