Stock Market Update

[BRIEFING.COM] The S&P 500 (+0.5%), Nasdaq Composite (+0.3%), and DJIA (+0.9%) trade in a steady range at midday, looking to add to their decent week-to-date gains.

Applied Materials (AMAT 217.91, -5.68, -2.54%) trades lower today after the company flagged a modest revenue hit from the Commerce Department's new "Affiliates Rule," estimating an approximate $110 million impact to 4Q25 revenue and $600 million to FY26. While the amounts are manageable, the disclosure adds another layer of uncertainty on top of existing China weakness.

The company remains well-positioned for memory-led growth and AI infrastructure spending, yet licensing delays and regulatory uncertainty may temper near-term sentiment.

Elsewhere in the information technology sector (+0.4%), Apple (AAPL 258.41, +1.28, +0.50%) holds a modest gain despite being downgraded to Underperform from Hold at Jefferies, with the firm citing iPhone price hike concerns.