Stock Market Update
09-Jan-26 14:30 ET
S&P 500 Climbs as Homebuilders Lead on Trump Housing Talks; LULU Slides on Discounting Concerns
Dow +254.39
at 49520.29,
Nasdaq +223.49
at 23703.53,
S&P +52.86
at 6974.31
[BRIEFING.COM] The S&P 500 (+0.76%) is in second place on Friday afternoon, up about 53 points.
Briefly, S&P 500 constituents Builders FirstSource (BLDR 123.96, +12.67, +11.38%), Lam Research (LRCX 218.36, +17.40, +8.66%), and Weyerhaeuser (WY 25.55, +1.56, +6.50%) dot the top of the standings. BLDR and WY rise as investors reacted to reports that President Trump and Commerce Secretary Lutnick met with homebuilders to boost housing affordability and construction, raising optimism for increased building activity and stronger demand for construction materials across the sector, while LRCX gets a boost from sell side target increases.
Meanwhile, lululemon athletica (LULU 201.89, -10.28, -4.85%) is today's worst laggard after Piper Sandler data showed SKUs on sale up roughly 90% yr/yr, reviving investor concerns that rising discounting -- unlike stabilizing promos at peers like Nike (NKE 65.60, +0.34, +0.52%) -- could pressure margins and earnings quality into January.
