Stock Market Update

[BRIEFING.COM] The major averages remain little changed from previous levels as the market continues to face broad weakness. 

On the earnings front, 3M (MMM 155.14, -12.66, -7.54%) delivered solid Q4 results with organic sales growth and margin expansion that exceeded prior targets, yet the stock is selling off sharply as investors weigh a conservative 2026 outlook against persistent macroeconomic and structural headwinds. The company's FY26 adjusted EPS guidance of $8.50 to $8.70 suggests moderate growth, while organic sales are expected to accelerate to approximately 3%. 

The company forecasts flat industrial production in the U.S. and a slowdown in China. Furthermore, the looming impact of tariffs and the ongoing drag from PFAS-related stranded costs continue to act as a baseline of persistent distractions that complicates the bull case for a clean earnings breakout.

Additionally, Fastenal (FAST 41.68, -2.06, -4.71%) is heading lower after reporting its Q3 results this morning. The industrial products distributor posted in-line EPS, a more typical outcome after last quarter's miss, while revenue increased 11.1% year-over-year to $2.03 billion, roughly in line with expectations.