Major Wall Street indices closed higher on Monday, July 6, 2026, with the Dow Jones Industrial Average hitting both an intraday and closing record high. Artificial intelligence–linked stocks led the rally, fueling broad-based gains across tech-heavy benchmarks.
Strong Performance Across Indices
The Nasdaq Composite rose 1.1%, the S&P 500 gained 0.7%, and the Dow advanced 0.3%—crossing the 53,000-point threshold for the first time. This milestone follows a week of consistent gains, underscoring resilience in U.S. equity markets.
AI Stocks Drive Early-Month Momentum
After a sharp pullback on Thursday, July 2—markets were closed Friday, July 3—AI-related shares rebounded strongly at the start of the week. Western Digital, Advanced Micro Devices (AMD), and Qualcomm surged approximately 7%, 6.5%, and 6%, respectively.
Magnificent Seven Mixed, Tesla Leads Gainers
Six of the so-called ‘Magnificent Seven’—a group of seven high-performing technology stocks that collectively account for up to 35% of the S&P 500’s market capitalization—rose on Monday. Tesla led the group with a near-7% gain. Microsoft was the sole exception, falling 1% amid reports of thousands of layoffs in its Xbox division.