The U.S. stock market surged into July 2025 with a wave of optimism, as the S&P 500 and Nasdaq 100 both hit fresh all-time highs, while the Dow Jones Industrial Average continued its upward climb.
The S&P 500 closed at 6279, marking its fourth record close in five sessions, and the Nasdaq 100 soared to 22867, fueled by strength in AI and semiconductor stocks.
S&P 500 YTD chart
Nasdaq 100 YTD chart
Driving the rally was a stronger-than-expected June 2025 jobs report, which revealed 147,000 new positions added and an unemployment rate dipping to 4.1%.
This labour market resilience tempered expectations for a near-term Federal Reserve rate cut, but bolstered investor confidence in the economy’s momentum.
Tech giants like Nvidia and Microsoft led the charge, with Nvidia nearing a $4 trillion market cap amid surging demand for AI infrastructure.
Datadog spiked after being added to the S&P 500, and financials like JPMorgan Chase and Goldman Sachs hit lifetime highs.
The Dow, while slightly trailing its tech-heavy peers, posted steady gains and now hovers near its own record territory.
With trade optimism rising and President Trump’s tax-and-spending bill passed, Wall Street enters the holiday weekend riding a wave of bullish sentiment.