Major US Indices Diverge as Nasdaq-100 Drops Weekly While Dow Jones Advances
U.S. stock benchmark performance diverged over the week, with tech stocks pulling back while broader market indexes managed modest gains. The Nasdaq-100 Index (NDX) slipped 3.07% week to date, though it retains an 18% gain for the year. In contrast, the Dow Jones Industrial Average rose 1% for the week, bringing its annual gain to 8.6%, while the NYSE Composite added 0.5% during the same period. Meanwhile, international assets faced pressure, with the iShares MSCI South Korea ETF (EWY) dropping roughly 12% on the week.
Individual corporate drivers and sector moves highlight changing market dynamics. Apple (AAPL) saw its shares rise 1.6% over four days ahead of Friday pre-orders for its new foldable smartphone, maintaining a 26% advance for 2026. In the financial sector, Charles Schwab reported a 38% quarterly surge in core net new assets. Conversely, several major financial institutions, including Travelers, M&T Bank, Citizens Financial, Regions Financial, and Truist, traded lower over the past three months. Outside equities, weather patterns tied to El Nino have stirred commodity markets, pushing sugar prices up 46% and copper up 10% since early June.
Investors will be watching market reaction to the official start of foldable phone pre-orders, alongside broader sector rotation between technology and financial stocks. Market participants are also keeping a close eye on commodity price swings and ongoing trends in international equity markets heading into upcoming trading sessions.
Key points
- The Nasdaq-100 Index declined 3.07% for the week but maintains an 18% gain year to date.
- The Dow Jones Industrial Average rose 1% week to date, pushing its annual return to 8.6%.
- Apple prepares for foldable phone pre-orders on Friday with its stock up nearly 26% in 2026.
- Core net new assets at Charles Schwab jumped 38% during the recent quarter.
- Sugar prices have surged 46% and copper is up 10% since June 2 due to El Nino weather impacts.
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How did major market indexes perform this week?
The Nasdaq-100 Index dropped 3.07% for the week but remains up 18% year to date. In contrast, the Dow Jones Industrial Average gained 1% and the NYSE Composite added 0.5%.
What is happening with Apple stock and its upcoming product release?
Apple pre-orders for its new foldable phone start on Friday. The stock gained 1.6% over four days, leaving it nearly 26% higher in 2026 and slightly below its recent peak.
How are weather conditions affecting commodity prices?
El Nino weather patterns have driven significant commodity price moves, pushing sugar prices up 46% and copper up 10% since June 2, while wheat prices remained flat.