Stock Market Update
25-Jul-24 11:05 ET
Upside bias builds steam
Dow +231.87
at 40085.54,
Nasdaq -9.09
at 17333.32,
S&P +13.09
at 5440.22
[BRIEFING.COM] The major indices moved higher over the last half hour. The Nasdaq Composite and S&P 500 joined the Dow Jones Industrial Average in positive territory.
The upside bias stems from buy-the-dip interest after the Nasdaq suffered its worst decline (-3.6%) since October 2022 yesterday and the S&P 500 (-2.3%) saw a 356-day streak of not suffering a decline of 2% or more come to an end.
Positive responses to some earnings news has also contributed to the bias. IBM (IBM 190.04, +6.07, +3.2%) and ServiceNow (NOW 823.58, +92.71, +12.7%) are standouts in that respect.
