Dow Jones reaches new high despite chip stock pressure
The Dow Jones Industrial Average reached a new record high at the close of today's trading, after investors responded to the U.S. jobs report for June, which came in weaker than expected. The index rose by about 594 points, or 1.1%, reaching a peak of 52,805.12 points. Conversely, the Nasdaq declined due to pressure on semiconductor stocks, with declines in the VanEck fund, NVIDIA, and Micron, reflecting ongoing tensions in the technology sector. Data showed that the U.S. economy added 57,000 jobs in June, below expectations, while the unemployment rate fell to 4.2%, leading to a drop in Treasury bond yields and expectations of no interest rate hikes in the near future.
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