Dow Jones 2025: Debt Ceiling Vote Boosts Market by 153 Points
Explore how the recent House approval of the debt-ceiling bill propelled the Dow Jones Industrial Average up by over 0.5%, highlighting key stock movements and economic data driving investor optimism.
Investors focus on robust job growth and economic indicators as key tech and financial stocks climb higher.
Highlights
- Financial giants American Express, Visa, and JPMorgan surge following the debt ceiling bill approval.
- Apple's retail expansion and Microsoft's AI partnership fuel tech sector gains.
- Salesforce dips on cautious customer spending outlook; Amgen declines amid generic drug competition.
The Dow Jones Industrial Average (DJIA) rose impressively by more than 0.5%, gaining 153 points as the House of Representatives passed the debt-ceiling bill, now moving to the Senate for consideration.
Broad market strength was evident with the S&P 500 and Nasdaq climbing 0.9% and 1.2%, respectively.
Recent economic reports underscore a resilient U.S. economy: ADP data revealed private employers added 278,000 jobs in May, surpassing the expected 180,000, while U.S. construction spending surged 1.2% in April, far exceeding the 0.2% forecast.
American Express (AXP) led Dow gains with a 2.6% increase, closely followed by Visa (V) at 2.4%. JPMorgan Chase (JPM) also advanced 1.4%, reflecting strong financial sector momentum.
Chevron (CVX) climbed 1% amid a 3% rise in oil prices fueled by speculation that OPEC+ may reduce production at its upcoming meeting.
Apple (AAPL) shares rose 1.5% after announcing plans to build or renovate 57 retail stores. Anticipation builds for the launch of Apple's augmented reality headset, its first major product since the Apple Watch, scheduled for unveiling at next week's global developer conference.
Microsoft (MSFT) gained 1.3% following news of a new AI cloud infrastructure partnership with startup CoreWeave.
Salesforce (CRM) was the day's biggest laggard, dropping 4.7% after reporting earnings that beat expectations but signaling potential tightening in customer spending.
Goldman Sachs (GS) shares declined 2.3% after reports surfaced of customers experiencing difficulties withdrawing funds from Apple savings accounts managed by Goldman.
Amgen (AMGN) fell 2.9% after Coherus BioSciences announced plans to offer a generic version of AbbVie's Humira at an 85% discount, intensifying competition against Amgen’s generic product.
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