Dow Triumphs 300+ Midday
July 02,2026 12:27 PM EST
The Dow Jones Industrial Average scaled to a record high on Thursday as investors reacted to a weaker-than-expected nonfarm payrolls report for June, while the NASDAQ Composite languished as semiconductors struggled once again.
The 30-stock index rocketed 392.82 points to 52,698.06. The index hit a new all-time intraday high in the session.
The S&P 500 waned 11.03 points to 7,472.20.
The NASDAQ dropped 208.43 points to 25,831.60, led by 8% declines in Teradyne and KLA. Nvidia shares also pulled back 1.2%, while Micron lost 3.4%.
Still, the major averages are on track to finish the holiday-shortened week with solid gains. The broad-based S&P 500 is pacing for a more than 2% gain, while the 30-stock Dow is readying for a jump of 1% and tech-heavy NASDAQ foresees gains of more than 3%.
Electric vehicle manufacturer Tesla reported better-than-expected vehicle deliveries for the second quarter.
Tesla delivered 480,126 vehicles, above expectations for 406,600. The figure is above the 384,000 deliveries that Tesla reported in the second quarter of 2025.
Tesla shares sank as much as 7.3% Thursday after the electrical vehicle maker reported second-quarter delivery and production levels far above Wall Street expectations, as Elon Musk’s automaker tries to rebound from consecutive annual declines in auto sales.
The June jobs report showed an increase of 57,000 last month, below the 115,000 jobs that economists polled by Dow Jones expected. The unemployment rate, however, dropped to 4.2%. Economists had forecast the rate to stay at 4.3%.
Prices for the 10-year Treasury withered, raising yields to 4.47% from Wednesday’s 4.45%. Treasury prices and yields move in opposite directions.
Oil prices ditched 62 cents to $67.96 U.S. a barrel.
Gold prices climbed $56.00 to $4,138.40 U.S. an ounce.
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