Dow Jones Industrial Average Edges Higher in Mixed Session

4 min read | July 23, 2025 01:59 PM AEST | By Team Kalkine Media

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Dow Jones Industrial Average Edges Higher in Mixed Session — Image source: Shutterstock

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Highlights

United States equities ended mixed with the Dow Jones Industrial Average registering modest gains.

Health care, basic materials, and utilities sectors contributed positively, while technology and consumer services declined.

Key movers included Amgen (NASDAQ:AMGN), IQVIA Holdings (NYSE:IQV), and Lockheed Martin (NYSE:LMT).

The U.S. equity markets closed with a mixed performance, led by modest strength in health care, utilities, and materials sectors. Stocks listed on the Dow Jones Industrial Average saw upward movement, contrasting with weaker sessions for technology and consumer-linked sectors. Alongside the Dow, the S&P 500 showed slight movement, while the NASDAQ Composite dipped. The session was marked by volatility in both blue-chip and growth-oriented tickers across major indexes.

Healthcare and Pharmaceuticals Support Upward Momentum

The healthcare segment saw substantial gains, largely attributed to performances from firms like Amgen Inc (NASDAQ:AMGN), which stood out in the pharmaceutical space. Merck & Co Inc (NYSE:MRK) also contributed positively to sectoral strength. Johnson & Johnson (NYSE:JNJ) extended its gains, reaching a new high, reinforcing broader sentiment in the healthcare domain.

In addition to large-cap pharmaceutical companies, the overall Dow Jones Health Care Index reflected consistent strength. The session highlighted renewed traction in biotech and healthcare delivery stocks, favoring the sector amid broader uncertainty in technology-linked counters.

Mixed Sentiment in Technology and Industrials

Technology stocks closed lower, affecting overall momentum. NVIDIA Corporation (NASDAQ:NVDA) led the declines among major tech constituents. The Dow Jones Technology Index ended in negative territory, indicating a cautious stance on growth-oriented names during the session.

The industrials space presented a contrasting picture. While Lockheed Martin Corporation (NYSE:LMT) declined notably, reaching a 52-week low, other defense and manufacturing names held steadier. International Business Machines (NYSE:IBM) also reported marginal declines, pulling the Dow Jones Industrials sector index lower.

In contrast, basic materials and utilities sectors showed resilience, supported by moderate gains in large-cap constituents, aiding the overall balance of the broader market session.

Housing and Construction Stocks Advance Sharply

Homebuilders surged, with DR Horton Inc (NYSE:DHI) and PulteGroup Inc (NYSE:PHM) leading the charge in the construction-related space. The strong performance was mirrored in the housing sector indexes, showing support from both earnings sentiment and broader macroeconomic conditions.

The S&P 500 saw IQVIA Holdings Inc (NYSE:IQV) as one of the top performers, extending its rally into double-digit gains. Activity in consumer discretionary remained muted, as mixed signals from inflation data and earnings weighed on overall enthusiasm.

NASDAQ Composite Witnesses Sharp Movements in Micro-Caps

The NASDAQ Composite recorded some of the session's most significant price fluctuations, especially among micro-cap and speculative names. Premium Catering Holdings Ltd (NASDAQ:PC) posted substantial intraday gains. Dragonfly Energy Holdings Corp (NASDAQ:DFLI) and Fusion Fuel Green PLC (NASDAQ:HTOO) also registered double-digit moves.

At the same time, several companies in the biotechnology and clean tech sectors posted steep losses. Replimune Group Inc (NASDAQ:REPL) fell sharply to a record low. Oriental Rise Holdings Ltd (NASDAQ:ORIS) and reAlpha Tech Corp (NASDAQ:AIRE) also experienced significant declines. These movements added to the session’s volatility across the NASDAQ.

Volatility Index and Commodity Markets Remain Stable

The CBOE Volatility Index declined slightly during the session, indicating a minor decrease in implied volatility in options linked to the S&P 500. In commodities, gold prices saw modest gains, while crude oil futures remained relatively flat with slight declines in both West Texas Intermediate and Brent contracts.

Market breadth remained skewed positively on both the Nasdaq Stock Exchange and the New York Stock Exchange, where advancing stocks outnumbered declining ones. Some companies across the broader equity landscape touched either new highs or lows, underscoring the market’s divergence.

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