Nasdaq Soars While Dow and Small Caps Struggle for Direction

The Nasdaq Composite reached a fresh high of 27,190.86, up 1.19% for the day, while the Dow Jones Industrial Average ended the week lower at 51,176.96, down 1.26%. The S&P 500 gained 0.73% on the day to close at 7,722.72, despite a weekly loss. The Russell 2000 inched up 0.94% to 2,832.90 but remains down for the week. Gold, silver, and copper prices rose, while crude oil fell, and Treasury yields crept higher, reflecting market uncertainty.

The Dow's weekly low was 50,546.54, and its high was 51,780.50, leaving it with an RSI14 of 39.4, suggesting it is nearing oversold territory. The S&P 500 closed with an RSI14 of 54.8, sitting between its 10-day SMA support and resistance levels. The Nasdaq's RSI14 reading of 62.1 highlights its strength, with a 16.99% year-to-date gain. The Russell 2000's RSI14 of 39.6 mirrors the Dow's hesitancy.

Volatility increased slightly, with the VIX closing at 16.21, up 0.90 on the day, while the Nasdaq-focused VXN eased to 21.20. In commodities, gold rose 0.64% to $4,189.10 an ounce, and silver jumped 3.76% to $62.24. WTI crude slipped 0.58% to $90.58 a barrel. The 10-year Treasury yield rose 4 basis points to 5.28%, up 10 basis points for the week.

Key companies making headlines this week include RTX (NYSE: RTX), which secured a $24.4 billion contract for Standard Missile-6 interceptors. Eli Lilly and Company (NYSE: LLY) received FDA approval for an expanded indication for Jaypirca. International Business Machines Corporation (NYSE: IBM) is facing investigations after a 25% share drop due to Z mainframe performance issues. Integra LifeSciences Holdings Corporation (NASDAQ: IART) lowered its full-year 2026 guidance following a flooding event. Trilogy Metals Inc. (NYSE American: TMQ) reported a cash balance of $31.2 million and a strategic equity investment from the Department of War.