Stock Market Update
05-Sep-25 14:35 ET
Financials sector lags
Dow -240.57
at 45380.72,
Nasdaq -57.32
at 21650.38,
S&P -32.72
at 6469.36
[BRIEFING.COM] The major averages now move in a sideways fashion, little changed from previous levels that seat them above their session lows, yet well beneath their opening gains.
Seven S&P 500 sectors trade in negative territory, with the financials sector (-1.9%) among the worst performers.
The sector faces pressure amid concerns that weak job growth signals slower growth ahead, which will weigh on loan demand.
Additionally, investors have done some profit-taking after several large components reached fresh 52-week highs.
Charles Schwab (SCHW 92.23, -5.40, -5.53%) is the weakest performer in the sector, falling past its 50-day moving average (95.05) to its lowest level since mid-July.
Elsewhere, JPMorgan Chase (JPM 295.58, -8.24, -2.71%) hit a fresh record high before returning to its 50-day moving average (292.80).
