The New York stock market closed in a slight gain due to strong performance in technology stocks.
On the 24th (local time), the Standard & Poor's (S&P) 500 index rose by 4.44 points (0.07%) to close at 6363.35, while the technology-centered Nasdaq Composite Index increased by 37.94 points (0.18%) to close at 21,057.96. The Dow Jones Industrial Average, composed of 30 blue-chip stocks, closed down by 316.38 points (-0.70%) at 44,693.91.
The S&P 500 index set a record high for the fourth consecutive transaction day up to this day, and the Nasdaq index also broke its record high for the second consecutive day.
On this day, technology stocks showed strong performance. Alphabet, the parent company of Google, which released its second-quarter earnings the previous day, demonstrated solid growth driven by artificial intelligence (AI), rising by 1% on this day. Semiconductor stocks such as Nvidia (1.73%), Broadcom (1.77%), Micron Technology (1.73%), and AMD (2.19%) also rose.
However, IBM, which reported its earnings the previous day, dropped by 7.62% due to disappointment over the third-quarter earnings outlook despite strong second-quarter results, leading to a decline in the Dow index.