Stock Market Update

[BRIEFING.COM] The S&P 500 (+0.7%), Nasdaq Composite (+0.8%), and DJIA (+0.7%) are moving to their best levels of the session, which coincides with the communication services sector (-0.3%) moving off its opening lows.

Verizon (VZ 43.59, -1.07, -2.40%) remains a notable laggard in the sector despite reporting better-than-expected earnings and raising its FY26 guidance for the third consecutive quarter. The company reported improving subscriber growth, lower churn, and stronger profitability, but a revenue miss and declining equipment sales have overshadowed those positives. Lingering concerns about increased wireless competition, including SpaceX's (SPCX 147.47, -0.02, -0.01%) potential entry into the nationwide carrier market, are also weighing on sentiment.