Stock Market Today, July 6: Semiconductor Momentum Lifts Nasdaq as Dow Closes Above 53,000
Semiconductor and AI-linked stocks led the advance, while earnings, Treasury yields, and inflation data will test whether the rally can move beyond a narrow group of technology leaders.
Overview
The Nasdaq Composite (NASDAQINDEX:^IXIC) gained 1.12% to 26,121 as semiconductor strength persisted, while the S&P 500 (SNPINDEX:^GSPC) rose 0.72% to 7,537.43 and the Dow Jones Industrial Average (DJINDICES:^DJI) climbed 0.29% to 53,055.91, marking its first close above the 53,000 milestone.
Gold prices rose 1.23% to $4,176.30 as of U.S. market close, while the 10-Year Treasury yield edged up 0.01% to 4.49% as Consumer Cyclical shares led the session vs. a decline in Industrials and relative strength in Financial Services.
Details
Tesla (NASDAQ:TSLA) helped lead market cap gains following the holiday weekend, while Micron Technology (NASDAQ:MU) rose as artificial intelligence chip demand accelerated. Conversely, Solstice Advanced Materials (NASDAQ:SOLS) plummeted 15.14% after announcing a $14.5 billion agreement to acquire Element Solutions (NYSE:ESI).
Source
Originally published at www.fool.com.