NASDAQ tumbles and has worst day since Dec 2022. DJIA closes at a record high

The NASDAQ tumbled today and had its worst trading day since December 2022 when the index fell -3.23%. The decline today pushed the index down -512.42 points or -2.77% to 17996.92 .

Meanwhile, the Dow industrial average rose 243.60 points or 0.59% to 41198.09. That was good enough for another record close for that index.

In between was the S&P index which fell -78.93 points or -1.39% to 5588.28.

The Magnificent 7 of Nvidia, Meta Platforms, and Tesla underperformed versus the NASDAQ index. Apple and Amazon were close to the -2.77% decline. Microsoft and Alphabet both fell but by a lesser percentage.

• Nvidia -6.64%
• Meta Platforms -5.68%
• Amazon -2.64%
• Alphabet -1.58%
• Apple -2.53%
• Microsoft -1.33%
• Tesla -3.14%

The top 5 Dow stocks today:

• UnitedHealth +4.43%
• Johnson & Johnson +3.67%
• Cisco +2.22%
• Chevron +2.22%
• JP Morgan +1.51%

After the close,

• United Airlines reported a revenue miss of $14.99 billion versus $15.1 billion estimate. They did beat on earnings per share with it coming in at $4.14 versus $3.93 estimate. Forward guidance for Q3 sees $2.75 – $3.25 versus expectations of $3.38. Shares are down -3.81% in after-hours trading.
• Kinder Morgan is also reporting and it has a revenue miss as well with $3.57 billion versus $4.13 billion estimate. Earnings-per-share came in at $0.25 versus $0.26 estimate. Shares are down -1.02% in after-hours trading.
• Alcoa EPS beats with $0.16 versus $0.08 expected. Revenues also be at $2.91 billion versus $2.84 billion estimate. Shares are up 1.63% in after-hours trading.

This article was written by Greg Michalowski at www.forexlive.com.