On Wednesday, July 7, Wall Street was mixed as the Dow Jones Industrial Average led the losses followed by S&P 500 while Nasdaq Composite edged higher.
The Dow Jones Industrial Average and the S&P 500 index both shrank 0.60% to $34,577 and 0.20% to $4,344, respectively.
While the NASDAQ Composite index progressed 0.17% or 24.32 points to $14,664 per share.
The S&P 500 fell as big tech companies cut losses to decrease the pressure on the broader market after a slump in economically sensitive stocks.
Meanwhile, FAANG stocks progressed except for Facebook, which stumbled 0.54% with a net change of $1.92, sending the stocks to the bottom at $352.78 per share.
On the other hand, Netflix and Google’s Alphabet Inc both rallied 1.43% or 7.66 points to $541.64 per share and 0.74% or 18.65 points to $2,523.80 per share, respectively.
The same with Amazon.com and Apple both climbed 4.69% or 164.76 points to $3,675.74 and 1.47% or 2.06 points to $142.02, respectively.
In addition, Microsoft slightly gained 0.004%, with a net increase of $0.010 to $277.66 per share.
The benchmark S&P 500 recorded 49 new 52-week highs and no new lows, while the Nasdaq Composite Index posted 69 new highs and 75 new lows.
In the New York Stock Exchange, the declining stocks outnumbered the advancing ones by a ratio of 1.86 to 1.
While on the Nasdaq Stock Exchange, the decliners were also favored with a ratio of 2.18 to 1.
Global Stocks Mostly Fell
Furthermore, most global stocks fell as the MSCI World Index fluctuated 0.24% or 7.21 points at $3,042.63.
In the European Union, the STOXX 600 also stumbled 0.52% or a net change of $2.38, which sent the stocks to the bottom at $455.98 per share.
Consequently, France’s CAC 40 and Germany’s DAX index both crashed 0.91% or 60.06 points to $6,507 and 0.96% or 150.59 points to $15,511, respectively.
In the Asia Pacific, Japan’s Nikkei 225 and TOPIX index both declined 0.94% or 268.97 points at $28,374.24 per share and 0.83% or 16.15 points at $1,938.35 per share, respectively.
Also, South Korea’s KOSPI dropped 0.59% at $3,285.72, while Hong Kong’s Hang Seng also sank 0.74% at $27,865.25.
Meanwhile, China’s Shanghai Composite and Shenzhen Component both rallied 0.44% to $3,545.65 and 1.56% to $14,895.94, respectively.
Lastly, Australia’s S&P/ASX 200 also climbed 0.68% to $7,310.90 per share.