NEW YORK, July 6, 2026, 11:03 EDT
- The Dow was down 58.66 points, or 0.11%, at 52,841.41 at 10:58 a.m. EDT after touching 53,052.70, also its 52-week high.
- Nike and Amgen were the main Dow drags earlier in the morning, accounting for about 87 index points, according to MarketWatch.
- The S&P 500 and Nasdaq rose as chip stocks rebounded; Broadcom NASDAQ:AVGO gained after expanding its Apple NASDAQ:AAPL chip deal through 2031.
- Trading Economics sees the US30 at 51,794 by quarter-end and 48,614 in one year.
U.S. cash equities were open in New York after the July 3 Independence Day observance. The NYSE lists its core trading session at 9:30 a.m. to 4:00 p.m. ET and July 3, 2026, as the observed Independence Day closure.
The Dow Jones Industrial Average (.DJI:INDEXDJX) slipped on Monday, giving back an early push to a fresh intraday high as losses in a few high-priced blue chips offset the chip-led rebound lifting the broader market.
The index was at 52,841.41, down 0.11%, at 10:58 a.m. EDT. It had opened at 52,828.45, reached 53,052.70 and fell as low as 52,648.69. The fade from the high was 211.29 points, bigger than the reported drop from the prior close.
That gap matters because the Dow is price-weighted, not market-cap weighted. S&P Dow Jones Indices describes the Dow as a price-weighted measure of 30 U.S. blue-chip companies, with no utilities or transports.
MarketWatch said Nike NYSE:NKE and Amgen NASDAQ:AMGN were pushing the Dow lower earlier, with Nike down $1.80 and Amgen down $12.86. In Dow math, each $1 move in a component changes the index by about 5.94 points, MarketWatch said. Home Depot NYSE:HD, Visa NYSE:V and Honeywell NASDAQ:HON also weighed on the index.
| Dow measure | Level or forecast | Gap from 10:58 Dow |
|---|---|---|
| Live Dow, 10:58 a.m. EDT | 52,841.41 | — |
| Intraday high / 52-week high | 53,052.70 | +211.29 points, +0.40% |
| Intraday low | 52,648.69 | -192.72 points, -0.36% |
| Trading Economics Q3 forecast | 51,794 | -1,047 points, -1.98% |
| Trading Economics 12-month estimate | 48,614 | -4,227 points, -8.00% |
The split with the rest of Wall Street was clear. Reuters reported at 10:18 a.m. ET that the Dow was down 0.28%, while the S&P 500 was up 0.52% and the Nasdaq was up 1.10%. Broadcom rose 5.7% after extending its custom-chip supply deal with Apple through 2031, and the Philadelphia SE Semiconductor index jumped 4.2%.
Charles Schwab’s NYSE:SCHW Nathan Peterson said “the broadening of the rally still appears to be underway,” pointing to stronger economic data and growth forecasts outside AI. Schwab also cited a FactSet forecast for 23.3% year-over-year second-quarter S&P 500 earnings growth. Schwab Brokerage
| Market check | Forecast or result | Read-through for Dow |
|---|---|---|
| ISM services PMI, June | 54.0 actual, down from 54.5 | Growth held, but slowed |
| Services employment index | 51.2, up from 47.9 | Labor market still firm |
| July 29 Fed hike probability | 24%, down from about 30% a week earlier | Rate pressure eased, not gone |
| S&P 500 Q2 earnings growth | 23.3% forecast | Earnings bar still high |
The Institute for Supply Management’s services index matched expectations at 54.0, Reuters reported. Employment returned to expansion after three straight months of contraction, while the prices-paid measure fell to 67.7 from 71.3 and stayed high.
The Dow’s drag also came as Microsoft NASDAQ:MSFT fell after saying it would cut about 4,800 jobs, or 2.1% of its workforce. Reuters said Delta Air Lines NYSE:DAL and PepsiCo NASDAQ:PEP are due to report later this week as the second-quarter earnings season starts.
Trade Nation senior market analyst David Morrison said the earnings season is important because the Magnificent 7 had “a pretty tough time.” He also said Fed Chair Kevin Warsh wants the Fed to “concentrate on the data,” so Wednesday’s minutes may not give much away. Reuters
South Korea’s SK Hynix KRX:000660 added to the AI test for U.S. investors, launching a U.S. share sale to raise 43 trillion won, or $28.07 billion. Di Zhou of Thornburg Investment Management said memory suppliers were riding an AI-driven demand wave, while Dave Mazza of Roundhill Investments called the listing more than “a liquidity event.” Reuters
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