A mix day for the US stock indices. Dow closes lower. S&P and NASDAQ rise
The major U.S. stock indices finished mixed after giving back a significant portion of their early gains. In premarket trading, the NASDAQ was higher by more than 500 points, and although the cash-session high reached a gain of roughly 470 points, sellers gradually chipped away at the advance throughout the day. The index still managed to close higher by 220.23 points, or 0.86%, at 25,929.66, but it finished much closer to the session low of 25,872.68 than its high, reflecting a loss of upside momentum into the close.
A similar pattern unfolded in the S&P 500. The index closed higher by 21.99 points, or 0.30%, at 9,405.72, but that modest gain came after a much stronger start that saw the index up as much as 83.08 points during the session. The inability to hold those gains suggests buyers became less aggressive as the day progressed.
The Dow Jones Industrial Average showed the most pronounced reversal. The index reached its highest level shortly after the opening bell, climbing as much as 410.05 points. However, sellers steadily took control throughout the session, erasing the entire advance and pushing the Dow into negative territory by the close. The index finished down 81.01 points, or 0.16%, at 50,791.07.
The late-session pullback across the major indices points to a market that remains cautious despite the strong opening rally. Buyers were able to drive prices higher early in the day, but the inability to sustain those gains suggests traders remain reluctant to chase the market higher amid ongoing geopolitical and macroeconomic uncertainties.
Apple had its, Worldwide Developers Conference – Tim Cook’s last as Apple CEO. The headline from WWDC 2026 was clear: Apple is making its biggest AI push yet. The long-delayed Siri overhaul finally arrived, Apple Intelligence is spreading throughout the ecosystem, and iOS 27 is built around AI-powered productivity, personalization, and privacy. For Apple, this event was less about new devices and more about proving it can compete in the rapidly evolving AI race.
Apple shares initially surged following the company’s AI-focused announcements, with investors reacting positively to the long-awaited rollout of Siri AI and the broader expansion of Apple Intelligence. The stock climbed as much as $10.06 intraday, pushing to a new all-time high of $317.40, narrowly surpassing last week’s record high of $316.94.
However, the breakout failed to attract sustained buying interest. Upside momentum faded, buyers turned into sellers, and the stock reversed sharply from its record levels. By the closing bell, Apple shares were down $5.80, or 1.89%, at $301.54, a dramatic turnaround from the earlier rally.
From a technical perspective, the reversal is significant. The price closed back below its 100-hour moving average at $308.23, shifting the near-term bias lower. However, the stock remains above its 200-hour moving average at $297.73, which continues to serve as a key support level.
Going forward, those two moving averages should define the battle lines. A move back above the 100-hour moving average at $308.23 would suggest the selloff was merely a post-news shakeout and would put buyers back in control. On the other hand, a break below the 200-hour moving average at $297.73 would be more concerning. Such a move would represent the first break below that moving average since April 7 and could trigger a deeper round of profit-taking and liquidation.
If sellers gain control below the 200-hour moving average, traders would likely shift their focus toward the 38.2% retracement of the rally from the March 30, 2026 low, which becomes the next major downside target.
Intel was a big gainer after moving lower last week. It rose by 11.19%. Google has placed an order with Intel to manufacture more than 3 million Tensor Processing Units (TPUs) for 2028, according to The Information, citing people with direct knowledge of the discussions. Google placed the order after TSMC struggled to keep up with demand for its manufacturing capacity — Intel will act as a contract manufacturer, fabricating Google’s chip designs rather than selling Intel-branded processors. This week shares of Intel fell -13.52%. That the client took the price to the 38.2% retracement of the move up from the March 30 below. Today’s moved to the upside keeps the buyers in firm control.
This article was written by Greg Michalowski at investinglive.com.