The Dow Jones Industrial Average (^DJI) was up 74.59 (0.14%) points today, reaching a level of 52,282.65, as investors navigated a complex landscape of cooling inflation data and a heavy slate of corporate earnings. The primary narrative driving the market this Friday, July 31st, 2026, is the latest Personal Consumption Expenditures (PCE) price index report, which showed inflation continues to stabilize toward the Federal Reserve's long-term targets. This economic backdrop has bolstered hopes for a sustained "soft landing," even as individual component volatility keeps the index gains modest.
Leading the charge for the blue-chip index, 3M (MMM) was up 3.70% to $148.62 following a significant earnings beat and an optimistic revision to its full-year guidance. Technology and healthcare sectors also provided substantial support; Nvidia (NVDA) was up 1.77% to $225.01, while Johnson & Johnson (JNJ) was up 1.61% to $227.63. Other notable performers included Cisco Systems (CSCO), which was up 1.33%, and UnitedHealth Group (UNH), which was up 1.00% to $399.64.
Conversely, the index faced downward pressure from several heavyweights reporting disappointing outlooks. IBM (IBM) was down 2.42% to $213.40 after citing a slowdown in enterprise consulting spend. Consumer-facing stocks also struggled, with Home Depot (HD) down 2.14% to $303.85 and Salesforce (CRM) down 1.64% to $168.45. Financial laggards included American Express (AXP), which was down 1.27%, and JPMorgan Chase (JPM), which was down 1.12% to $301.51, as investors rotated out of cyclical banking stocks into defensive healthcare and industrial plays.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.