Telecom lifts Nasdaq, Dow and S&P close with modest losses

Energy weighs on the S&P 500 on Thursday.
Telecommunication outperforms other major sectors.
Trade concerns continue to weigh on industrials.

Eren Sengezer FXStreet

Major equity indexes in the U.S. failed to determine a clear trend on Thursday as major sectors showed varying performances.

Crude oil prices failed to make a decisive recovery on Thursday even though the U.S. sanctions against Iran went into effect on Thursday and the S&P 500 Energy Index closed the day 0.9% lower. On the other hand, boosted by upbeat earnings from Motorola and T-mobile earlier this week, the S&P 500 Telecom Service Sector extended its upside and closed with a 1% gain.

Meanwhile, concerns over escalating trade conflict between the U.S. and China weighed on the trade-sensitive S&P 500 Industrials Index, which ended up losing 0.57% on the day.

"There is low volatility in the markets as the S&P and Nasdaq are just below all-time record highs, and it seems like markets are complacent right now. It's a risk-on trade. Investors are more comfortable with FAANG stocks and technology as far as valuations go, and these stocks have higher margins," Tom White, chief market strategist at TradeWise Advisors, in Chicago, Illinois, told Reuters.

The Dow Jones Industrial Average fell 69.30 points, or 0.27%, to 25,514.45, the S&P 500 erased 3.57 points, or 0.12%, to 2,854.13 and the Nasdaq Composite gained 5.03 points, or 0.06%, to 7,893.35.

DJIA Technical Outlook (via FXStreet Chief Analyst Valeria Bednarik)

"The Dow's positive momentum keeps fading according to technical readings in the daily chart, but by no means indicates an upcoming bearish continuation, as the index holds well above all of its moving averages, and with the 20 DMA maintaining its bullish stance. Technical indicators, however, retreat within positive territory, with the RSI pulling back from overbought readings."

"Shorter term, and according to the 4 hours chart, the index turned negative, as it closed below its 20 SMA, while technical indicators entered negative territory, maintaining their bearish slopes."

According to the analyst, supports could be seen at 25,491, 25,448, 25,40 while resistances align at 25,572, 25,648, and 25,690.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

AUD/USD remains above 0.7200 after China's trade data

AUD/USD sits above 0.7200 in the Asian session on Tuesday, near its highest level since May 14. The US Dollar stays under pressure as a rallying Japanese Yen outweighs support from hawkish Fed bets and geopolitical tensions. This, along with firming expectations for another RBA rate hike later this month, acts as a tailwind for the Aussie. However, mixed China trade balance data keep the pair restricted.

USD/JPY: Heavy near 153.50 as BoJ rate hike bets boost JPY

USD/JPY is sitting at six-month lows near 153.50 in the Asian session on Tuesday, as Japan's upbeat wage growth data and Q2 GDP revision cement bets on a BoJ rate hike next week and continue to boost the Japanese Yen. Meanwhile, US Dollar selling remains unabated despite hawkish Fed expectations and rising geopolitical tensions, lending additional support to the pair.

$4,465: Gold looks to regain 21-day SMA amid sustained USD weakness

Gold has snapped a two-day losing streak early Tuesday, staging a decent comeback toward $4,450 after finding strong buyers below the $4,400 level. Gold is looking to resume its recovery from four-week lows of $4,283 hit last week, capitalizing on sustained US Dollar weakness across the board.

Bitcoin whale profits hit record $9.07B, long-term holders increase on-chain activity

Bitcoin’s (BTC) short-term holder (STH) whales have reached a record level of unrealized profit, raising concerns that increased profit-taking could put pressure on the market during its current consolidation phase.

Why Oil is setting up for its most explosive move in years

The biggest Commodity trade of the year may be hiding in plain sight. Gold, Silver, Copper and Agricultural Commodities have already delivered some of the most dramatic repricing events of 2026, rewarding traders who recognized early that scarcity, geopolitical fragmentation and constrained supply were becoming dominant market forces.

Diesel’s record $100 warning: The oil shock hiding in plain sight

The Oil market may look calmer than it did a few months ago, but diesel is sending a very different message. The US diesel crack spread, the premium of ultra-low sulphur diesel futures over WTI, recently surged above $100 per barrel for the first time, reaching an intraday record of just over $102.00.