New York Stocks Close: Dow Catches Up - Record Hunt of Nasdaq and S&P Paused

NEW YORK (dpa-AFX) - The US indices S&P 500 and Nasdaq 100's pursuit of highs took a break on Tuesday. At the start of July and the second half of the trading year, the Dow Jones Industrial Average, however, attempted to narrow the gap to its record-high peers. With a 0.91 percent increase to 44,494.94 points, it was able to reduce its gap to the record to less than 600 points.

On the broader market and the Nasdaq stock exchange, issues such as the AI ​​boom and increased hopes for US interest rate cuts failed to further boost the indices that had performed better so far in 2025. While the broad S&P 500 fell only slightly by 0.11 percent to 6,198.01 points, the Nasdaq 100, with its constituent technology stocks, fell by 0.89 percent to 22,478.135 points.

The focus was on the tax and spending bill pushed by US President Donald Trump, which cleared a major hurdle in the US Congress. It also caused Trump's dispute with Tesla CEO Elon Musk to escalate again, putting the electric car manufacturer's shares under renewed pressure./tih/stw

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