Adviser Investments Chief Investment Officer Jim Lowell has the market analysis for Wednesday, July 24. The S&P 500 and NASDAQ Composite closed at record highs today, up 0.5% and 0.8% respectively. The Dow Jones Industrial Average was down 0.3%. The Dow declined as Caterpillar and Boeing delivered disappointing second-quarter results, sending both down about 3%. Elsewhere, Facebook agreed to pay a record fine of $5 billion over privacy violations as well as failing to disclose a data leak that occurred years ago.