Stock Market Update

[BRIEFING.COM] The S&P 500 (-0.6%), Nasdaq Composite (-1.0%), and DJIA (-0.1%) are slightly improved from session lows shortly after midday. 

Despite facing a low bar to hurdle due to muted expectations, Lennar (LEN 111.55, -6.02, -5.12%) is still experiencing selling pressure today after the homebuilder's Q4 results and 2026 outlook painted a sobering picture of the "new normal" in housing. While the company managed a modest top-line beat, a significant miss on the bottom line and another downward shift in margin guidance have investors recalibrating their expectations for the year ahead.

Other homebuilder names, such as D.R. Horton (DHI 151.33, -3.79, -2.44%) and PulteGroup (PHM 122.16, -2.23, -1.79%), contribute to weakness both in the consumer discretionary sector (-0.5%) and the iShares U.S. Home Construction ETF (-1.2%).