Nasdaq Rises 0.9% on Tech Strength; IBM Plunge Leaves Dow Flat

U.S. equity markets finished Tuesday's session with a mixed performance, as strength in the technology sector propelled the Nasdaq Composite higher while a significant sell-off in a single blue-chip component weighed heavily on the Dow Jones Industrial Average.

Tuesday's Market Close

At the close of trading, the major indices reported the following results:

• The Dow Jones Industrial Average (DJI) was nearly unchanged, adding just 0.02%.
• The broader S&P 500 index gained 0.38%.
• The technology-focused NASDAQ Composite led the gains, rising 0.90%.

According to market data, sector performance was uneven, with gains in Technology, Basic Materials, and Oil & Gas helping to lift the broader market. Market breadth on the New York Stock Exchange was positive, with 1,574 stocks rising compared to 1,143 declining.

Stocks in Focus

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The session was marked by sharp divergence among individual large-cap stocks. International Business Machines (IBM) was the day's biggest loser on both the Dow and S&P 500, plummeting 25.21%.

In contrast, the financial sector showed significant strength. Goldman Sachs (GS) surged 9.16% to a new all-time high and was the top performer on the Dow. JPMorgan Chase & Co (JPM) also rallied, gaining 2.50% to reach a record close. Technology leaders also posted strong gains, with NVIDIA (NVDA) adding 4.06% and cybersecurity firm CrowdStrike (CRWD) climbing 12.12% to an all-time high.

Broader Indicators

Investor sentiment appeared to improve, as reflected by the CBOE Volatility Index (VIX), which fell 3.85% to 16.50. A declining VIX typically indicates reduced market anxiety.

In commodity markets, both crude oil and precious metals advanced. West Texas Intermediate (WTI) crude futures for August delivery rose 2.46% to settle at $80.06 a barrel. Gold futures for August delivery were up 1.35% to $4,059.70 a troy ounce. Meanwhile, the US Dollar Index Futures weakened, trading down 0.30% at 100.74.