On July 31, U.S. stocks retreated from early advances to close broadly lower, with all three major indices declining despite strong earnings-driven rallies in Microsoft and Meta.
📉 Closing Levels:
| Index | Change | Close |
|---|---|---|
| Dow Jones Industrial Avg | -330.30 (-0.74%) | 44,130.98 |
| S&P 500 | -23.51 (-0.37%) | 6,339.39 |
| Nasdaq Composite | -7.23 (-0.03%) | 21,122.45 |
| Nasdaq 100 | -127.29 (-0.55%) | 23,218.12 |
Note: S&P 500 extended losing streak to three sessions.
📈 July Performance Summary:
| Index | Monthly Gain | Streak |
|---|---|---|
| S&P 500 | +2.17% | 3rd consecutive advance |
| Nasdaq | +3.70% | 4th consecutive advance |
| Dow Jones | +0.08% | 3rd consecutive advance |
💡 Key Drivers:
- Microsoft/Meta Outperformance: Strong earnings fueled rallies but failed to offset broader sell-off
- Market Sentiment: Persistent concerns over interest rates and economic growth weighed on indices
- Sector Rotation: Tech gains narrowed as investors locked in profits after July’s robust run
Data as of NYSE close, July 31, 2024