Market Wrap | U.S. Stocks Dip Amid Mixed Market Sentiment and Sector Performance

On July 11, 2025, the U.S. stock market experienced a slight decline, with the S&P 500 Index falling 0.33%, the Dow Jones Industrial Average dropping 0.63%, and the Nasdaq Composite Index decreasing 0.22%. Investors remain cautiously optimistic as new U.S. labor data reveals unexpected declines in initial jobless claims, indicating a resilient job market. However, the mixed market sentiment is reflected in stable U.S. Treasury yields, with the 2-year yield at 3.86% and minor fluctuations in longer-term yields.

The market saw a mixed performance across various sectors. The technology, healthcare, consumer staples, communication services, materials, industrials, and financial sectors underperformed the S&P 500. Conversely, the consumer discretionary and energy sectors bucked the trend and posted gains.

ServiceNow's stock price dropped by 3.03% today, reflecting a significant decline in investor confidence. Xponance Inc. reduced its holdings in the company, which may have contributed to the negative sentiment surrounding ServiceNow.

MiNK Therapeutics shares surged over 730% after the company announced complete cancer remission using its agenT-797 therapy, highlighting its potential in treating solid tumors. Future FinTech Group Inc. shares rose nearly 161% in premarket trading following the valuation of iCapital at over $7.5 billion in its latest funding round. Boqii Holding shares dropped nearly 99%, potentially indicating financial instability as the company undergoes a reverse stock split and transitions to a direct listing. Milestone Pharmaceuticals shares fell over 39% after facing an FDA setback for its PSVT nasal spray.

Tesla is set to enter the Indian market, marking a significant expansion for the company. Investors remain cautiously optimistic following new U.S. economic data showing stronger-than-expected performance, with initial jobless claims unexpectedly falling and continuing claims slightly below predictions. This data suggests resilience in the job market, influencing bond yields which held steady. In another development, xAI, a company owned by Elon Musk, is reportedly seeking a $200 billion valuation in its next round of financing, highlighting Musk's continued influence in both technology and finance sectors.