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Equity Markets Close Lower After Job Openings Data, Consumer Confidence Report
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Equity Markets Close Lower After Job Openings Data, Consumer Confidence Report
Jul 29, 2025 2:07 PM

04:36 PM EDT, 07/29/2025 (MT Newswires) -- US benchmark equity indexes closed lower on Tuesday, after June's lower-than-expected job openings and a stronger-than-anticipated rise in July's consumer confidence.

The Nasdaq was down 0.4% to 21,098.29 while the S&P 500 fell 0.3% to 6,370.86. The Dow Jones Industrial Average decreased 0.5% to 44,632.99. Among sectors, real estate led the gainers while industrials rallied the decliners.

US Treasury yields were lower, with the 10-year rate decreasing 9.6 basis points to 4.32% and the two-year rate dropping 5.1 basis points to 3.87%.

September West Texas Intermediate crude oil rose 4.1% to $69.46 a barrel on Tuesday.

In economic news, US job openings fell to 7.437 million in June, according to the Bureau of Labor Statistics, lower than the 7.5 million openings expected in a survey compiled by Bloomberg and below the 7.712 million openings reported in May. The June level represents 4.4% of total employment, down from 4.6% in May, and down from 4.5% a year earlier.

The Conference Board's measure of consumer confidence rose to 97.2 in July from 95.2 in June, above the 96.0 expected in a survey compiled by Bloomberg.

"Consumer confidence has stabilized since May, rebounding from April's plunge, but remains below last year's heady levels," said Stephanie Guichard, senior economist, Global Indicators at The Conference Board. "In July, pessimism about the future receded somewhat, leading to a slight improvement in overall confidence."

In company news, Corning (GLW) shares were up nearly 12%, the top gainer on the S&P 500. The company outlined an upbeat third-quarter financial outlook following a second-quarter beat.

Incyte ( INCY ) was the second-top gainer on the S&P 500, up more than 10%. The company swung to non-GAAP earnings in Q2 as revenue jumped more than forecast, and revised up guidance for its main product, blood treatment Jakafi (ruxolitinib), for the full-year 2025.

Brown & Brown ( BRO ) shares sank 10%, the second-worst S&P 500 performer, a day after the company reported higher adjusted earnings and revenue in Q2, beating expectations.

Gold increased 0.4% to $3,381.20 per troy ounce, and silver was up 0.3% to $38.33 per troy ounce.

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