Stock Market Update
23-Oct-26 13:25 ET
Software stocks outperform
Dow -626.39
at 52241.80,
Nasdaq -22.58
at 26006.72,
S&P -34.92
at 7628.58
[BRIEFING.COM] The S&P 500 (-0.4%), Nasdaq Composite (-0.1%), and DJIA (-1.2%) are lower just after midday.
The information technology sector (+0.2%) remains one of only two S&P 500 sectors to hold a gain at this juncture, with the tech rebound contributing to the Nasdaq Composite's relative outperformance. While semiconductors and other AI-infrastructure stocks are recovering a sliver of yesterday's weakness, the PHLX Semiconductor Index (+0.6%) is off its earlier highs.
However, software stocks are putting together a solid showing, with the iShares U.S. Expanded Tech-Software ETF up 1.5% as Palo Alto Networks (PANW 377.56, +22.64, +6.38%) and CrowdStrike (CRWD 252.05, +14.11, +5.93%) are among the top-performing S&P 500 components. The software ETF is up 5.6% for the week, compared to a 3.1% loss for the PHLX Semiconductor Index.
