Weak US Jobs Report Sends Dow to a New Peak but Drags Nasdaq Lower as Chip Stocks Slide and Tesla Drops 7% US markets closed mixed on Thursday, July 2, with the Dow setting a fresh record while a sell-off in semiconductor shares pulled the Nasdaq down and Tesla fell around 7%. Wall Street wrapped up a mixed session on Thursday, July 2, the final trading day before the Independence Day holiday shuts the market on Friday, July 3. The Dow Jones Industrial Average jumped more than 1.1%, adding nearly 600 points to close at a fresh record, while the S&P 500 ended largely flat. The Nasdaq Composite went the other way, sliding 0.8% as the sell-off in semiconductor stocks that started Wednesday spilled into Thursday. The split showed up because of the rotation underway in the market, with investors pulling money out of tech and chip names and shifting it into industries seen as safer. That move was already visible on Wednesday, when the Dow closed at 52,305.24 after touching a new high earlier in the day, while weakness in tech stocks pushed the S&P 500 down 0.2% to 7,483.23. Why chip stocks stayed under pressure Semiconductor shares fell for a second straight day as investors worried that the enthusiasm around AI had lifted valuations too far. The pressure grew when word emerged that OpenAI was in talks to sell a 5% stake to the U.S. government, alongside Meta's plan to make money from its excess compute capacity. Micron, Applied Materials, AMD, SanDisk and Marvell all dropped sharply, while Tesla fell 7.5% despite strong deliveries. Jobs data soured the mood One of the biggest forces shaping Thursday's session was the June non-farm payrolls report, which landed well below expectations. Official data showed the US economy added just 57,000 jobs in June, far short of the 113,000 economists had forecast, while the unemployment rate came in at 4.2%, a touch better than the 4.3% that was expected. The softer-than-expected hiring figure snapped a three-month run of steady labour market readings and strengthened the case for the Federal Reserve to keep interest rates on hold for now. "Finally, the Federal Reserve continues to maintain a data-dependent policy stance, with interest rate decisions expected to be driven by incoming economic data rather than advance guidance from policymakers," said Amit Gupta of Kedia Advisory. Tesla and the chip names Among the session's biggest movers was Tesla, whose shares slipped roughly 7% even though the EV maker comfortably topped second-quarter vehicle delivery estimates. Semiconductor stocks stayed under strain for a second session and dragged the Nasdaq Composite lower even as the broader market traded in the green. SanDisk led the way down, tumbling 14%, followed by Marvell Technology, which sank 9.8%. Applied Materials slid 7.4%, while Micron Technology dropped 7% on worries about memory chip demand. Advanced Micro Devices also ended the Thursday session down 4.3%. When trading resumes With Thursday's session done, the US stock market is now shut for the Independence Day holiday. The NYSE and Nasdaq will remain closed on Friday, July 3, and return to normal trading on Monday, July 6. The US bond market, which closed early at 2:00 pm Eastern Time on Thursday, will also be closed on Friday and reopens Monday alongside equities. What this means for you • For investors: The weak jobs data raises the odds that the Federal Reserve keeps interest rates on hold, which can influence your equity and mutual fund holdings. • For tech investors: The continued sell-off in chip and tech stocks signals more volatility in pricey AI-linked shares, so caution is warranted. Questions & Answers 1. How much did the Dow Jones rise on Thursday? The Dow Jones Industrial Average jumped more than 1.1%, adding nearly 600 points to close at a fresh record. 2. Why did the Nasdaq fall? A sell-off in semiconductor stocks that began Wednesday continued into Thursday, pushing the Nasdaq Composite down 0.8%. 3. How far did Tesla's stock drop? Tesla shares slipped roughly 7%, even though the EV maker comfortably beat its second-quarter vehicle delivery estimates. 4. How many jobs did the US add in June? The US economy added just 57,000 jobs in June, well below the 113,000 forecast, while the unemployment rate was 4.2%. 5. Which chip stocks fell the most? SanDisk dropped 14%, Marvell Technology 9.8%, Applied Materials 7.4%, Micron 7% and AMD 4.3%. 6. When does the US market reopen? The NYSE and Nasdaq are closed Friday, July 3, and resume normal trading on Monday, July 6. https://trendkia.com/en/market/jobsa-ke-kamajora-ankaron-ke-bicha-dow-jones-ne-banaya-naya-rikorda-chipa-sheyaron-ki-pitai-se-lurhaka-nasdaq-tesla-7-tuta-4316 TrendKia — Har trend, sabse pehle.