The Dow Jones Futures (YM=F) was up 159.00 (0.3036%) points today, Friday, July 31st, 2026, as investors reacted positively to the latest Personal Consumption Expenditures (PCE) price index report. The data showed a cooling trend in inflation, reinforcing market expectations that the Federal Reserve may initiate a series of interest rate cuts starting in the fall. This macroeconomic narrative provided a significant tailwind for industrial and tech sectors, shifting sentiment toward a "soft landing" scenario for the U.S. economy.
Leading the charge for the blue-chip index, 3M Company (MMM) was up 3.70% to $148.62 following a stronger-than-expected quarterly earnings report and optimistic forward guidance. The semiconductor giant Nvidia (NVDA) also saw significant gains, up 1.77% to $225.01, as demand for AI-related infrastructure remains robust. Other notable performers included Johnson & Johnson (JNJ), which was up 1.61% to $227.63, and Cisco Systems (CSCO), which was up 1.33% to $100.48.
Conversely, some components faced downward pressure despite the broader market optimism. IBM (IBM) was down 2.42% to $213.40, emerging as the day's biggest laggard after a cautious outlook on enterprise software spending. Consumer-facing stocks also struggled, with Home Depot (HD) down 2.14% to $303.85 and Salesforce (CRM) down 1.64% to $168.45. Additionally, American Express (AXP) was down 1.27% to $310.29, as investors weighed the impact of potentially lower interest margins on financial institutions.
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.