NEW YORK, July 3, 2026, 11:01 EDT
- U.S. markets are closed Friday for the Independence Day holiday. The Dow Jones Industrial Average finished its last session at 52,900.07, rising 594.83 points, or 1.14%.
- The Dow climbed roughly 2% over the holiday-shortened week, stretching its weekly win streak to four. The S&P 500 added 1.8% and the Nasdaq was up 2.1%.
- The Dow ended at a record, while chip stocks dropped about 11.4% across two sessions, with the semiconductor index posting losses on Wednesday and Thursday.
NEW YORK — The Dow Jones Industrial Average (INDEXDJX:.DJI) heads into the July 4 break at a record, but action below the surface is not as solid as the close looks. The NYSE counted Friday, July 3, as the holiday, so last cash trading was Thursday.
The Dow closed at 52,900.07 after hitting 52,903.85—its 52-week high—according to MarketWatch data. The S&P 500 (INDEXSP:.INX) was flat. The Nasdaq Composite (INDEXNASDAQ:.IXIC) slipped while the Dow climbed almost 600 points.
| Index | Latest close | Thursday move | Holiday-week move |
|---|---|---|---|
| Dow Jones Industrial Average (INDEXDJX:.DJI) | 52,900.07 | up 1.14% | up around 2.0% |
| S&P 500 (INDEXSP:.INX) | 7,483.24 | flat | up 1.8% |
| Nasdaq Composite (INDEXNASDAQ:.IXIC) | 25,832.67 | down 0.80% | up 2.1% |
The Dow is up for a fourth week in a row, Reuters said, marking its longest winning streak since October 2024. Trading volume on U.S. exchanges Thursday was 19.92 billion shares, compared to the 20-day average of 23.34 billion.
Apple NASDAQ:AAPL and McDonald’s NYSE:MCD led about a quarter of the Dow’s late-day rally Thursday, according to MarketWatch. Since the Dow is price-weighted, gains in names with higher share prices can move the index even when growth stocks lag, S&P Dow Jones Indices said.
Apple jumped 4.8% after news about new iPhones. Shares of McDonald’s added 4.16%, according to MarketWatch component data. Nvidia NASDAQ:NVDA slipped 1.4%, with the semiconductor index off 5.4% Thursday after falling 6.3% Wednesday.
| Gauge | Wednesday | Thursday | Two-session move |
|---|---|---|---|
| Dow Jones Industrial Average | fell 0.03% | added 1.14% | up about 1.11% |
| Nasdaq Composite | dropped 0.70% | dropped 0.80% | off about 1.49% |
| Semiconductor index | sank 6.30% | lost 5.40% | down about 11.4% |
Dow got a lift from softer labor data. Nonfarm payrolls increased by 57,000 in June, according to the Labor Department, and the jobless rate held at 4.2%. Participation in the labor force dropped 0.3 point to 61.5%. April and May payroll figures were cut by a net 74,000. The leisure and hospitality sector shed 61,000 jobs.
Adam Sarhan, CEO of 50 Park Investments, said the data “takes the pressure off the Fed” for an early rate hike. Bret Kenwell, an investment analyst for eToro in the U.S., added it “doesn’t scream labor-market trouble,” but eased the pace on rate expectations. Reuters
Chip stocks are slipping. Bruce Zaro at Granite Wealth Management said people are “taking profits in chip stocks” after the rally. Reuters said the semiconductor index is still up around 78% this year. Reuters
Next week, the Dow focus moves from jobs to Fed and earnings. Markets will look for clues in Wednesday’s release of the latest Federal Reserve meeting minutes. Delta Air Lines NYSE:DAL and PepsiCo NASDAQ:PEP are both expected to post results ahead of the main second-quarter earnings rush. S&P 500 firms could grow second-quarter earnings by over 24%, LSEG IBES numbers reported by Reuters show.
Joe Mazzola, head trading and derivatives strategist at Charles Schwab, said he’s watching to see “whether or not that broadening continues.” Matthew Miskin at Manulife John Hancock Investments said investors want to know “how incrementally hawkish” Fed officials are. James Ragan at D.A. Davidson called a tightening cycle “a risk to the market and the valuations.” Keith Lerner at Truist Advisory Services said earnings must “validate the earnings trajectory.” Reuters
