The Nasdaq Composite was the overachieving sibling last week

A pigeon walks in front of the Nasdaq stock market site in New York City, U.S., July 16, 2025.

Kylie Cooper | Reuters

The Nasdaq Composite was an overachiever last week. After ending Friday higher — outperforming the S&P 500 and Dow Jones Industrial Average, both of which closed in the red — the tech-heavy index officially had five straight days of all-time closing highs.

On a weekly basis, the Nasdaq Composite, with its 2% advance, also pulled ahead of the S&P 500’s 1.6% increase and the Dow Jones Industrial Average’s 1% rise.

Given the Nasdaq Composite’s moniker as the “tech-heavy index” (much favored by financial writers who have to come up with many ways to describe it), there’s little surprise in saying that technology companies were the main engine for its finish at the top of the podium.

But it’s not just any tech. OpenAI seemed to be behind much of the market’s rise, suggesting the artificial intelligence narrative is still compelling to investors. Shares of Oracle soared last week largely because of a deal it had made with the artificial intelligence firm; companies associated with it, such as Broadcom and Nvidia, have also had their share prices lifted previously.

With a rate cut by the U.S. Federal Reserve all but certain to come this week — which would especially benefit cash-burning, debt-ridden, yet-to-be-profitable tech startups like OpenAI — the youngest of the three major U.S. indexes might continue to outshine its siblings in the near term.