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WALL STREET'S RECORDS LINE-UP CHANGES, DOW RALLIES AS NASDAQ LAGS

The Dow Industrials .DJI and the S&P 500 .SPX ended higher with strength in financials .SPSY and healthcare .SPXHC sectors offsetting a drop in technology stocks.

But while recent consistent record winners such as the benchmark SPX and the Nasdaq .IXIC were pushed to the sidelines, there was a newish crew on the podium including smaller caps.

The blue-chip Dow rallied 1.7% and boasted a record closing high with its biggest gains from UnitedHealth UNH.N, Goldman Sachs GS.N and Merck & Co MRK.N.

The tech-heavy Nasdaq composite .IXIC ended slightly red after trying its best to make a small advance. This was with the S&P 500 technology sector .SPLRCT lagging most among the benchmark index's 11 major sectors, with a 1.43% drop. The PHLX chip index .SOX took a pause on record-making, ending down more than 2%.

The main pressure came from chip stocks with Broadcom AVGO.O providing the biggest drag with a 12.6% drop after its financial guidance left investors unimpressed. Micron Technology MU.O and Advanced Micro Devices AMD.O followed suit. Also on the losing side was Ciena Corp CIEN.N, tumbling 13.66%, after its quarterly report.

JPMorgan analyst Samik Chatterjee wrote that Ciena's revenue momentum was "well anticipated" but with a "wide variance between sell-side consensus and buy-side expectations reflected in the premium multiple" the stock needed more than the muted earnings outlook revision that it provided due to higher expenses.

While the S&P 500 took a break from making records for the second day in a row, the S&P 600 small-cap index .SPCY registered a record closing high for the first time since late May, with a 1.28% advance on the day. Elsewhere in small caps, the Russell 2000 .RUT missed out on a record close after touching an intraday record high during the session.

The S&P mid-cap 400 index .MID, which advanced a modest 0.39%, marked a record closing high.

And the S&P 500 value index .IVX climbed 0.96%, marking a record closing high for the first time since late May. This was in contrast to a slight dip in the S&P 500 growth index .IGX.

The S&P 500 healthcare index .SPXHC led sector gains with a 3.16% advance, which was its strongest one-day jump since April 2025.

Here is your closing snapshot:

(Sinéad Carew, Terence Gabriel)

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