Why are S&P 500 and Nasdaq up while Dow Jones down today, and will US stock markets continue to witness wild swings? Biggest gainers, losers, analysts insights, market outlook …

Why are S&P 500 and Nasdaq up while Dow Jones down today, and will US stock markets continue to witness wild swings? US stock markets closed with mixed results after a week full of corporate earnings, economic data, and geopolitical developments. The S&P 500 and Nasdaq reached record closing highs, while the Dow Jones ended slightly lower. Investors reacted to strong earnings from technology companies, falling crude prices, and ongoing tensions linked to the US-Iran conflict. Analysts also examined economic data showing factory growth and rising inflation signals. As markets enter a historically weaker period, investors now question whether volatility will continue and how global events may shape the next market phase.

Why are S&P 500 and Nasdaq up while Dow Jones down today, and will US stock markets continue to witness wild swings?

US markets ended the session mixed after an earnings-heavy week. The S&P 500 rose 0.29 percent and closed at 7,230.12. The Nasdaq gained 0.89 percent and closed at 25,114.44. The Dow Jones fell 0.31 percent and closed at 49,499.27.

The gains in the S&P 500 and Nasdaq marked new record closing highs. Both indexes recorded their sixth straight week of gains. This was their longest weekly winning streak since October 2024. The market also completed one of its strongest April performances in decades.

Market drivers behind the mixed closing

Strong corporate earnings played a key role in market movement. Companies representing more than two-fifths of the S&P 500 market value reported quarterly results during the week. Analysts now expect first-quarter earnings growth of 27.8 percent year on year.

About 83 percent of companies beat earnings estimates. Around 78 percent exceeded revenue expectations. These results increased investor confidence and pushed technology stocks higher. Crude oil prices declined after reports that Iran submitted a proposal for negotiations with Washington. The easing of oil prices helped reduce immediate inflation pressure concerns. However, oil prices remain above 100 dollars per barrel due to the closure of the Strait of Hormuz.

Why are S&P 500 and Nasdaq up while Dow Jones down today?

Technology stocks drove gains in the S&P 500 and Nasdaq. Apple shares rose about 3.3 percent after the company issued strong sales guidance. The company highlighted demand for the iPhone 17 and the MacBook Neo. Software companies also gained after Atlassian raised its annual forecast. Atlassian shares surged 29.6 percent. Salesforce gained 4.1 percent, while ServiceNow added 3.2 percent.
However, the Dow Jones declined due to weakness in energy stocks. Exxon Mobil shares dropped 1 percent after profits were affected by Middle East disruptions. Chevron fell 1.4 percent despite beating earnings estimates. The Dow has more energy exposure compared with the Nasdaq and S&P 500, which explains the mixed performance. Roblox shares fell 18.3 percent after cutting its bookings forecast. Reddit rose 13.1 percent following a strong revenue outlook.

Will US stock markets continue to witness wild swings?

Market volatility may continue due to multiple factors. The US market is entering a historically weaker six-month period. Data since 1945 shows the S&P 500 gains about 2 percent on average between May and October. This compares with about 7 percent between November and April. Geopolitical tensions remain a key risk. Progress toward a resolution of the US-Iran conflict remains uncertain. The closure of the Strait of Hormuz continues to influence energy markets and inflation expectations.

Economic data also showed US factory activity expanded for the fourth month in a row. However, the prices-paid component rose to its highest level in four years. This indicates inflation pressure may increase. Central banks including the Federal Reserve, Bank of Japan, European Central Bank, and Bank of England kept interest rates unchanged. However, signals suggest future increases may be possible.

US stock markets biggest gainers and losers

Technology and software stocks were the top performers during the session. Apple, Atlassian, Salesforce, and ServiceNow recorded strong gains. Reddit also posted double-digit growth. Energy companies recorded losses. Exxon Mobil and Chevron declined due to profit pressure and geopolitical risks.

Market breadth showed more stocks rising than falling. On the New York Stock Exchange, advancing stocks outnumbered decliners by 1.18 to 1. On the Nasdaq, advancing stocks outnumbered decliners by 1.69 to 1. The S&P 500 recorded 45 new 52-week highs and 13 new lows. The Nasdaq posted 132 new highs and 51 new lows.

Biggest gainers

Apple — up about 3.3% after strong sales guidance and demand outlook.
Atlassian — surged about 29.6% after raising its annual forecast.
Salesforce — gained about 4.1% on software sector strength.
ServiceNow — rose about 3.2% as enterprise software stocks advanced.
Reddit — jumped about 13.1% after upbeat revenue forecast.

Biggest losers

Roblox — fell about 18.3% after cutting its annual bookings forecast.
Exxon Mobil — dropped about 1.0% as quarterly profit was hit by Middle East disruptions.
Chevron — declined about 1.4% despite beating earnings expectations.

Analysts insights and market outlook

Analysts believe the strong earnings season helped markets ignore geopolitical risks. Some experts say markets are focused on earnings growth and technology investment returns. The Magnificent Seven technology group reported strong results during the week. Investors closely watched how investments in artificial intelligence are performing.

Analysts say the market reaction suggests strong investor confidence. However, they warn that geopolitical risks and inflation signals may increase volatility in the coming months. Oil market leaders also warned that supply risks may grow if the Strait of Hormuz remains closed. Strategic reserves and existing inventories may not last long if disruptions continue.

What should investors do now?

Experts advise investors to stay focused on long-term goals. Diversification across sectors remains important due to ongoing volatility. Investors should monitor earnings trends, inflation data, and geopolitical developments.

Technology stocks may continue to attract interest due to earnings growth. However, energy and inflation risks could create market swings. Analysts say disciplined investing and risk management remain key strategies in the current market environment.

FAQs

Q1. Why did the Dow Jones fall while other indexes rose?
The Dow Jones fell due to losses in energy companies like Exxon Mobil and Chevron. Technology stocks drove gains in the S&P 500 and Nasdaq, creating a divergence between indexes.

Q2. Will stock market volatility continue in 2026?
Analysts expect volatility due to inflation signals, interest rate outlook, geopolitical tensions, and seasonal trends. Earnings growth may support markets, but global risks could cause frequent market swings.