STOCK MARKET WATCH: Tuesday, 23 July 2024

[progree]

3. Better. The S&P 500, which is a capitalization-weighted average of 80% of the entire U.S. stock market,

is up 1.08%. That's considerably above the average daily move, but not a super-sized one (Google says the average daily move historically is +/- 0.5%)..

https://www.google.com/search?q=s%26p+500+percentage+of+entire+u.s.+stock+market

I don't see anything in particular that would account for that otherwise.

https://finance.yahoo.com/news/stock-market-news-today-tech-roars-back-as-sp-500-nasdaq-surge-ahead-of-earnings-200038261.html

The total U.S. stock market, as represented by the ETF index fund VTI is up about the same amount: 1.04%
https://finance.yahoo.com/quote/VTI/

As for the Dow, up only 0.32% -- the Dow is an index of 30 cherry-picked stocks and the Dow is not even a good average of any kind of those stocks because it is price-weighted, which is utterly silly. Yes, a stock selling for $60 has twice the weight of one selling for $30, no matter what their respective market capitalizations are. It is a legacy thing that is far far past its "best by" date that the media just can't let go of it.