New York, July 24, 2026 – The Dow Jones Industrial Average (INDEXDJX:.DJI) edged higher in early trading on Friday, while the Nasdaq Composite (INDEXNASDAQ:.IXIC) declined, widening the performance gap between the two indexes.
At 10:02 a.m. EDT, the Dow was up 0.20% at 51,813.64, while the Nasdaq slipped 0.62% to 24,982.46 two minutes later, according to Google Finance data. Over the past two sessions, the Dow has outperformed the Nasdaq by 1.98 percentage points, based on initial calculations using Reuters closing figures from Thursday.
Oil and Bond Markets Provide Some Relief
Brent crude oil futures dropped 2.85% to $97.82 a barrel on Friday, easing some of the upward pressure on energy costs. The yield on the 10-year U.S. Treasury note also slipped to 4.683%, providing a modest tailwind for equities. However, the relief was limited: Brent had surged 7% on Thursday, briefly touching $102 a barrel.
“Investors are, to a certain extent, walking on eggshells,” said Kristina Hooper, chief market strategist at Man Group (LON:EMG), in comments reported by Reuters.
Dow’s Composition Weighs on Performance
The Dow, which is price-weighted, was dragged lower by declines in two of its largest components by share price. Alphabet (NASDAQ:GOOGL) fell $24.66, shaving an estimated 146 points off the index. Amazon.com (NASDAQ:AMZN) dropped $12.07, removing approximately 72 points. Together, these two stocks accounted for roughly 43% of the Dow’s 507-point decline on Thursday.
Tesla (NASDAQ:TSLA) slumped 14.5% but, because of its lower share price, did not have a direct impact on the Dow. Alphabet was added to the Dow on June 29, replacing Verizon Communications (NYSE:VZ), a move that broadened the index’s exposure to AI-related spending.
Week Ahead: Earnings and Fed Decision
Market attention now turns to a busy week ahead. Microsoft (NASDAQ:MSFT), Amazon, and Apple (NASDAQ:AAPL) are all scheduled to report quarterly earnings. Meta Platforms (NASDAQ:META) will also release its results. The Federal Reserve’s interest rate decision is expected on Wednesday, with futures pricing in a 36% probability of a 0.25 percentage point hike as of Thursday afternoon.
Risks remain on both sides. A further surge in oil prices could push bond yields higher, while disappointing AI-related outlooks could intensify the technology sector downturn.
The Dow is on track for its third consecutive weekly loss, and its early signs of strength on Friday appear limited. The index’s advance was modest, and the broader market remains under pressure from rising input costs and uncertainty over the pace of monetary tightening.
