Stock Market Today: Dow Hits 35K as Rally Spurs Fresh Index Records
Twitter and Snap had strong showings in the earnings confessional.


In a mirror image to last week, the major market indexes continued to rebound from Monday's sharp selloff to close Friday at new record highs across the board.
Today's gains came on the back of mixed economic data. On the plus side, IHS Markit's flash purchasing managers index (PMI) hit a record high of 63.1 in July, with growth supported by an uptick in new orders across the manufacturing sector.
On the negative side, the flash services PMI edged down to 59.8 from its June reading of 64.6, indicating the rate of expansion in the services industry (which includes restaurants and hotels) slowed amid "hikes in supplier prices and a greater need to hire additional workers."
From just $107.88 $24.99 for Kiplinger Personal Finance
Be a smarter, better informed investor.

Sign up for Kiplinger’s Free Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Corporate earnings were also in focus, with stronger-than-expected results from social media names Twitter (TWTR, +3.1%) and Snap (SNAP, +23.8%) lifting the collective mood on Wall Street.
The Dow Jones Industrial Average ended up 0.7% at 35,061 – its first-ever close above the 35K mark. "Although there is nothing necessarily special about milestone numbers, 35,000 is yet another reminder of how far we've come," says Ryan Detrick, chief market strategist for LPL Financial. "This bull market is alive and well thanks to a very strong economy and record earnings, justifying current levels and likely higher prices in the future."
The S&P 500 Index and Nasdaq Composite settled at new record highs, too, gaining 1.0% to 4,411 and 1.0% to 14,836, respectively.
Other action in the stock market today:
- The small-cap Russell 2000 rose 0.2% to 2,209.
- Intel (INTC) was the worst Dow stock today, shedding 5.3%. While the chipmaker reported higher-than-anticipated adjusted earnings and revenues for its second quarter, INTC issued a cautious guidance for the current quarter amid continued supply constraints.
- Boston Beer (SAM) was another earnings loser today, slumping 26.0% in the wake of its results. In the second quarter, the maker of Sam Adams beer fell short on both the top and bottom line and lowered its full-year forecast. "The hard seltzer category and overall beer industry were softer than we had anticipated," noted Jim Koch, founder and chairman of SAM.
- U.S. crude oil futures edged up 0.2% to $72.07 per barrel.
- Gold futures slipped 0.2% to settle at $1,801.80 an ounce.
- The CBOE Volatility Index (VIX) fell 2.8% to 17.20.
- Bitcoin eased back 0.3% to $32,304.53. (Bitcoin trades 24 hours a day; prices reported here are as of 4 p.m. each trading day.)
Time to Work On That Core
This week was discombobulating for investors, to say the least, as Monday's deep selloff on COVID concerns was quickly shrugged off over the ensuing days.
"Monday's tempest passed quickly, but the key point is that the market focus has shifted from an inflation scare to a (brief) growth scare," says Douglas Porter, chief economist for BMO Capital Markets. "At least some concern on the growth front is certainly warranted by the unnerving jump in virus cases in many regions, even if the market has apparently brushed off such concerns."
In other words: New record highs, while appreciated, don't necessarily dash the potential for additional summer volatility. With so many aspects of the recovery remaining uncertain, investors might consider tending to their portfolio core.
These low-cost Vanguard exchange-traded funds (ETFs) and mutual funds, and our Kiplinger ETF 20, can be of help. All of these funds are among the cheapest in their class and offer a variety of strategies across a number of market areas.
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.

With over a decade of experience writing about the stock market, Karee Venema is the senior investing editor at Kiplinger.com. She joined the publication in April 2021 after 10 years of working as an investing writer and columnist at a local investment research firm. In her previous role, Karee focused primarily on options trading, as well as technical, fundamental and sentiment analysis.
-
Markets Are Quiet Ahead of Fed Day: Stock Market Today
Investors, traders and speculators appear to be on hold amid an unusually fraught Fed meeting.
-
Quiz: Test Your Knowledge of the OBBB, Wealth Transfer and Early Retirement
Quiz The financial professionals who contribute to Kiplinger's Adviser Intel recently wrote about the OBBB's impact on retirement, how to ensure your wealth passes to your family and early retirement questions.
-
Markets Are Quiet Ahead of Fed Day: Stock Market Today
Investors, traders and speculators appear to be on hold amid an unusually fraught Fed meeting.
-
Stocks Rise to Start Fed Week: Stock Market Today
The Nasdaq Composite and S&P 500 hit new record closing highs as Wall Street awaits the Fed's next rate cut.
-
S&P 500 Slips Ahead of Fed Week: Stock Market Today
All eyes are on the Federal Reserve ahead of next week's critical policy meeting.
-
Dow Gains 617 Points as Rate Cuts Near: Stock Market Today
Wednesday's economic data didn't shift Wall Street's expectations that the Fed is preparing for a rate cut at next week's meeting.
-
S&P 500 Hits New High After Oracle Earnings: Stock Market Today
Another down day for Apple held the Dow Jones Industrial Average back, though.
-
Stocks Grind Up to New All-Time Highs: Stock Market Today
UnitedHealth stock led the Dow Jones Industrial Average amid increasing signs the labor market has not been well for months.
-
Markets Prepare for August Inflation Data: Stock Market Today
Apple CEO Tim Cook is still important, but price action this week is as much about incoming inflation data ahead of next week's Fed meeting.
-
Stocks Slip as Job Growth Stalls: Stock Market Today
The August jobs report came in much weaker than expected, while the unemployment rate ticked higher.