HOME > MARKETS > MARKET COMMENTARY
  MARKET COMMENTARY
EQUITY
US markets end mostly in red on Tuesday
Jul-02-2025

The US markets ended mostly in red on Tuesday, following the strong performance seen in recent sessions, which saw the Nasdaq and the S&P 500 reach new record highs. Besides, traders took a cautious approach as they continued to keep an eye on developments in Washington, D.C., where the Senate narrowly voted to approve President Donald Trump's massive tax cuts and spending bill. With Vice President J.D. Vance voting to break a 50-50 tie, the legislation will head back to the House, where the Republicans hold a narrow majority. Meanwhile, report released by Institute for Supply Management (ISM) showing a modest increase by its reading on U.S. manufacturing activity in the month of June, lent some support to the markets. Moreover, a separate report released by the Labor Department showed an unexpected increase by job openings in the U.S. in the month of May. The Labor Department said job openings climbed to 7.76 million in May from an upwardly revised 7.39 million in April. While street had expected job openings to decrease to 7.30 million from the 7.39 million originally reported for the previous month.

On sectoral front, Housing stocks turned in some of the market's best performances on the day, with the Philadelphia Housing Sector Index surging by 3.3 percent. Further, significant strength was also visible among oil service stocks, as reflected by the 2.9 percent jump by the Philadelphia Oil Service Index.

Dow Jones Industrial Average jumped 400.17 points or 0.91 percent to 44,494.94, while Nasdaq slid 166.84 points or 0.82 percent to 20,202.89 and S&P 500 edged down 6.94 points or 0.11 percent to 6,198.01.

  RELATED NEWS >>