New York, June 30, 2026, 16:05 EDT
- Nasdaq Composite climbed 1.54%, S&P 500 was up 0.87%, and the Dow finished 0.32% higher after the bell, according to Reuters/LSEG data.
- U.S. stocks with gains outnumbered losers 4,143 to 3,745, and the difference between the S&P 500 and its equal-weighted counterpart is now about 3 percentage points, down from 14 points earlier this year.
- Earnings are up next. Five companies including Microsoft Corp NASDAQ:MSFT, Alphabet Inc NASDAQ:GOOGL, and Amazon.com Inc NASDAQ:AMZN are projected to spend around $730 billion this year. S&P 500 profits are expected to climb over 26%.
U.S. stocks closed up Tuesday, with the Nasdaq out front as buying broadened out beyond just AI leaders. That shift in breadth drew attention after the close. Fund managers looked for any sign the second-half rally could keep going with lofty valuations and a Fed still leaning hawkish.
The main indexes closed up, Reuters/LSEG data showed. The Nasdaq was up more than four times as much as the Dow on a point-adjusted basis.
| Index | Close | Change | Percent |
|---|---|---|---|
| Dow Jones Industrial Average | 52,347.59 | up 164.85 | up 0.32% |
| S&P 500 | 7,505.06 | gained 64.63 | gained 0.87% |
| Nasdaq Composite | 26,218.37 | added 398.23 | rose 1.54% |
The market wasn’t only led by a few big stocks. MarketWatch data had 4,143 U.S. stocks advancing while 3,745 fell. Reuters said in another valuation check that the gap between the S&P 500 and its equal-weight version narrowed to about 3 percentage points, down from 14 points at the start of 2026.
| Breadth and risk gauge | Latest reading | Why it matters |
|---|---|---|
| U.S. advancers vs decliners | 4,143 vs 3,745 | More stocks rose than fell, so gains ran wider than the major indexes |
| S&P 500 vs equal-weight S&P 500 gap | About 3 pct points | Market is less top-heavy now than it was in early 2026 |
| Earlier 2026 gap | About 14 pct points | The earlier rally was much more focused on just a few stocks |
| AAII bull-bear spread | 8.8% | Sentiment stayed above norm but didn’t move to extremes |
“We’ve had a great first half of the year,” said Oliver Pursche, senior vice president and advisor at Wealthspire Advisors, calling corporate earnings “strong.” David Morrison, senior market analyst at Trade Nation, said, “Investors can’t see an end in sight to this bull run.” Reuters
Price is the worry. Bank of America Corp’s NYSE:BAC Bubble Risk Indicator read 0.91 for the PHLX Semiconductor Sector and 0.82 for tech, Reuters reported. The S&P 500 price-to-sales ratio came in at 3.22, much higher than its 1.84 long-run average. The index was trading at 20.2 times 12-month earnings, not as high as in the dot-com era but still high, which means there’s less room for weak results.
| Valuation marker | Latest reading | Comparison |
|---|---|---|
| BofA Bubble Risk Indicator, semiconductors | 0.91 | Close to danger zone |
| BofA Bubble Risk Indicator, technology | 0.82 | Still high |
| S&P 500 price-to-sales | 3.22 | Average is 1.84 long term |
| S&P 500 forward P/E | 20.2x | Dot-com top was 25.2x |
Oliver Shale, head of research at Ruffer, said “all measures of asymmetry and risk are flashing amber.” J.J. Kinahan, IG North America CEO, said AI buyers “still have to prove” the spending makes sense. Reuters
That’s why Wall Street is watching the AI capital spending line as closely as index moves. Reuters, citing JPMorgan Chase & Co NYSE:JPM data, said five companies including Microsoft, Alphabet and Amazon are on track to spend about $730 billion this year. Nicolas Janvier at Columbia Threadneedle Investments said this kind of spending is already “priced in to the market.” David Bianco, chief investment officer for the Americas at DWS, said earnings are now the test: “there can’t be any excuses.” Reuters
Labor data was mixed. Job openings increased by 9,000 to 7.594 million in May, above the 7.30 million forecast in the Reuters poll and the highest since May 2024. Hiring dropped by 45,000 to 5.170 million. Matthew Martin, senior U.S. economist at Oxford Economics, said the labor market is showing “signs of stabilization.” Reuters
| U.S. macro check | Latest | Prior / forecast |
|---|---|---|
| May job openings | 7.594 mln | Reuters poll was 7.30 mln |
| May hiring | 5.170 mln | Down 45,000 |
| Consumer confidence | 91.2 | May revised 90.6 |
| Jobs “hard to get” | 22.5% | 19.8% last month |
Consumer confidence edged up 0.6 point to 91.2 in June, the Conference Board reported. Its present situation index slipped. “Little change in the labor market” is expected in the next six months, chief economist Dana Peterson said. The Conference Board
Oil lost ground as Brent crude finished 0.3% down at $72.92 a barrel, closing out the quarter 38% lower, Reuters said. Traders are still betting on at least one Fed hike by late 2026, LSEG data showed, according to Reuters.
NVIDIA Corp NASDAQ:NVDA climbed roughly 2% in late trading. Microsoft is still down almost 18% for the month and Oracle Corp NYSE:ORCL has dropped about 35% in June, per AP data. Nike Inc NYSE:NKE was set to report after the close, with investors watching for a read on consumers before the holiday week brings jobs numbers.
U.S. stock markets will be closed Friday, July 3, for Independence Day, according to exchange holiday calendars. The June payrolls report comes out Thursday. Reuters reported economists see 110,000 jobs added and a 4.3% unemployment rate.
