The S&P 500 reached a record high on July 22, 2025, while the Nasdaq Composite fell 0.4% due to AI stock selling. The Dow Jones Industrial Average rose 179 points, or 0.4%, and moved closer to its December record. Smallcap stocks posted strong gains in the rally.
The tech-heavy index snapped its six-day streak of record closing highs after Nvidia, Broadcom, and Palantir declined. However, healthcare stocks made significant gains, outperforming gainers by a wide margin. Chip stocks, including Tesla and Alphabet, struggled despite being among the top performers this year.
Market experts attribute the S&P’s success to healthcare stocks’ strong performance, while others point to retail-driven and quantitative buying. The yield on 2-year Treasury notes dropped to 3.83%, and the 10-year yield fell to 4.34%.
Source: https://www.barrons.com/livecoverage/stock-market-news-072225