Stock Market Update
14-Jan-26 12:05 ET
Defensive rotation amid mega-cap weakness
Dow -264.89
at 48926.89,
Nasdaq -366.19
at 23343.71,
S&P -69.37
at 6894.36
[BRIEFING.COM] The major averages have sunk to session lows at midday, with today's losses considerably narrowing their early year-to-date gains.
Amid the pullback in mega-cap and tech names, the defensive consumer staples (+0.8%), utilities (+0.6%), and health care (+0.3%) sectors are posting nice gains today.
The consumer staples sector is now the best-performing S&P 500 sector this week with a 3.4% gain. Though Walmart (WMT 119.51, -0.85, -0.71%) gives back a chunk of this week's strength, a majority of the sector's components trade higher, with particualr strength across food and beverage names.
