Stock Market Update
05-Aug-25 10:30 ET
Major averages sport modest losses
Dow -144.76
at 44028.88,
Nasdaq -1.67
at 21050.53,
S&P -13.94
at 6316.00
[BRIEFING.COM] The S&P 500 (-0.2%), DJIA (-0.3%), and Nasdaq Composite (-0.1%) all sport modest losses for the day.
Sector strength has decreased, with only the consumer discretionary (+0.5%), communication services (+0.3%), and materials (+0.1%) sectors maintaining positions in positive territory.
Breadth figures are roughly even on both the NYSE and Nasdaq, reflecting a shift from yesterday's broad-based buying action.
The ISM Services PMI decreased to 50.1% in July (Briefing.com consensus 51.5%) from 50.8% in June. The dividing line between expansion and contraction is 50.0%, so the July reading reflects services sector activity teetering on the brink of a contraction.
The key takeaway from the report is that it reflects a slowdown in growth for the country's largest sector, accompanied by a faster contraction in employment and a faster increase in prices. It is a combination that will provoke stagflation chatter
