Today's Recap · Friday, July 31, 2026
Stocks rise into the finish, even as yields jump and oil climbs
The major U.S. indexes close higher, but Treasury yields, crude and several red-hot sectors send mixed signals across the tape.
The big picture. The S&P 500 rises 0.7%, the Nasdaq adds 1.0%, and the Dow gains 0.5% as traders push the market higher into the close. The Russell 2000 slips 0.5%, leaving small caps behind the large-cap rally.
Sector action is split. Discretionary jumps 3.3% and Communication Services adds 1.6%, while Energy rises 1.0% and Industrials gain 0.8%. Materials falls 2.3%, the weakest group of the day, and Healthcare, Utilities, Real Estate, Staples, Financials, and Tech all finish lower.
Treasury yields move up across the curve, with the 5-Yr at 4.46%, the 10-Yr at 4.745%, and the 30-Yr at 5.275%. The VIX drops 6.4% to 15.99, and the 9-day VIX sinks 22.6% to 13.05, pointing to a calmer session in stocks even with rates moving higher.
Overseas, the picture is mixed. The Nikkei 225 rises 0.7%, the Hang Seng adds 0.2%, the DAX gains 0.6%, and the CAC 40 climbs 0.9%, while the Shanghai Comp. falls 0.6% and the Kospi drops 1.2%. In FX, the dollar index slips 0.2% as EUR/USD rises 0.5% and USD/JPY falls 1.7%.
Crypto sells off. Bitcoin falls 2.8% to 62929.6719, Ethereum drops 2.9% to 1861.61, and the total crypto market cap declines 2.3% to $2.2T. Bitcoin dominance holds at 56.3%.