NEW YORK, July 24, 2026, 4:07 p.m. EDT – The Dow Jones Industrial Average gained 235 points as oil prices dropped, with markets focused on upcoming Federal Reserve decisions and major technology earnings.
- The Dow gained 0.45% to close at 51,946.51, though it finished the week down 0.38%.
- The Nasdaq declined 0.64% on Friday and lost 2.13% over the week.
- Next week’s highlights include the Fed’s decision and earnings releases from four major technology firms.
The Dow Jones Industrial Average rose 234.86 points on Friday, ending the day at 51,946.51, as oil prices pulled back after their recent jump. U.S. cash trading is shut. Despite Friday’s advance, the index ended the week down 0.38%.
The headline overstated the increase. The Dow outperformed the Nasdaq, but the price-weighted index was boosted by gains in a handful of high-priced stocks. As a result, Friday’s advance was less widespread than it seemed.
Approximately 266 Dow points were contributed by five components, using closing movements. Two financial shares subtracted about 169 points.
| Dow component | Friday share move | Approx. Dow-point impact |
|---|---|---|
| Apple NASDAQ:AAPL | up $11.36 | adds 67.5 |
| Travelers NYSE:TRV | rises $10.89 | increases 64.7 |
| Home Depot NYSE:HD | gains $8.27 | up 49.1 |
| IBM NYSE:IBM | adds $7.52 | up 44.7 |
| Salesforce NYSE:CRM | climbs $6.70 | adds 39.8 |
| American Express NYSE:AXP | drops $14.71 | subtracts 87.4 |
| Goldman Sachs NYSE:GS | falls $13.73 | knocks off 81.6 |
Apple and Travelers together contributed approximately 132 points, accounting for 56% of the Dow’s total gain. These calculations are based on closing price changes and a factor of 5.94 points per dollar.
| Index | Friday close | Friday | Week | 2026 |
|---|---|---|---|---|
| Dow Jones Industrial Average | 51,946.51 | up 0.45% | down 0.38% | up 8.08% |
| S&P 500 | 7,411.96 | up 0.05% | down 0.61% | up 8.27% |
| Nasdaq Composite | 24,975.82 | down 0.64% | down 2.13% | up 7.46% |
The divide affected all major indexes, with the Nasdaq falling at a rate over five times greater than the Dow for the week.
The S&P 500 made only slight gains. The Nasdaq declined, pressured by losses in semiconductor stocks. Intel NASDAQ:INTC dropped roughly 6% even after issuing a positive outlook and outlining increased investment plans.
Investors continued to examine if AI earnings are able to cover increasing capital expenses. Alphabet NASDAQ:GOOGL disclosed its initial-ever cash burn, posting $5.9 billion. The company also increased its projected 2026 outlay by $15 billion.
Peter Andersen, CEO at Andersen Capital Management, highlighted the issue: “The fear of missing out is becoming more like a fear of massive overbuilding.” Reuters
Oil prices saw brief respite, with Brent falling nearly 4% to around $96 in Friday’s trading. Despite the drop, both Brent and U.S. crude remained on course for weekly increases of close to 7%.
Two major events are set for next week. The Federal Reserve will hold its meeting from July 28-29, with its policy decision expected on Wednesday. As of Thursday, Fed funds futures priced in a 36% probability of a 25 basis point rate hike.
Microsoft NASDAQ:MSFT and Meta Platforms NASDAQ:META are set to release earnings following Wednesday’s market close. Amazon NASDAQ:AMZN and Apple will report after the close on Thursday.
Early estimates from LSEG LON:LSEG show S&P 500 earnings grew 26.5% in the second quarter. Over 80 companies had announced results by Wednesday. Investors are set to assess if company guidance aligns with these outlooks.
Risks: A sudden oil supply cut, an unexpected Fed rate hike, or another shift in AI investment could wipe out Friday’s gains.
Price weighting is a key factor for Dow investors. While the 30-stock average can end the session higher, this may mask significant divergence in performance among its components.
Related articles: NASDAQ:AAPL
