US Stocks Diverge at the Close

2026-07-02 20:27 By Luisa Carvalho 1 min. read

US equity indices closed mixed on Thursday, as tech volatility gripped trading ahead of the holiday, despite easing concerns over rate hikes.

The S&P 500 was flat and the Nasdaq 100 fell 0.8%.

Chipmaker stocks fell for a second day as investors questioned whether AI optimism had pushed valuations beyond reasonable levels.

Fresh developments included reports that OpenAI was in talks to sell a 5% stake to the US government, while Meta (-4.9%) said it may monetize its excess compute capacity.

Micron Technology sank 7%, Applied Materials slipped 7.4%, and Advanced Micro Devices dropped 4.3%.

SanDisk (-14%) and Marvell (-9.8%) tanked.

Tesla fell 7.5% despite a strong deliveries report.

Still, the Dow climbed 595 points to a new record high amid strength in traditional sectors, as a softer-than-expected June jobs report pushed back expectations of an imminent Fed hike.

Apple gained 4.8%, while Visa and Walmart both rose around 3%.

For the week, the index added about 1.8%.



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US equity indices closed mixed on Thursday, as tech volatility gripped trading ahead of the holiday, despite easing concerns over rate hikes. The S&P 500 was flat and the Nasdaq 100 fell 0.8%. Chipmaker stocks fell for a second day as investors questioned whether AI optimism had pushed valuations beyond reasonable levels. Fresh developments included reports that OpenAI was in talks to sell a 5% stake to the US government, while Meta (-4.9%) said it may monetize its excess compute capacity. Micron Technology sank 7%, Applied Materials slipped 7.4%, and Advanced Micro Devices dropped 4.3%. SanDisk (-14%) and Marvell (-9.8%) tanked. Tesla fell 7.5% despite a strong deliveries report. Still, the Dow climbed 595 points to a new record high amid strength in traditional sectors, as a softer-than-expected June jobs report pushed back expectations of an imminent Fed hike. Apple gained 4.8%, while Visa and Walmart both rose around 3%. For the week, the index added about 1.8%.
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