Stock Market Update
27-Oct-26 10:05 ET
Chip stocks extend leadership as broader market trades mixed
Dow -90.19
at 52271.60,
Nasdaq +90.45
at 26280.27,
S&P +8.48
at 7685.32
[BRIEFING.COM] The S&P 500 (+0.1%) and Nasdaq Composite (+0.3%) are off to a modestly higher start amid some lingering enthusiasm across semiconductor stocks and other AI-related names, while a lower tilt to the broader market pushed the DJIA (-0.2%) modestly lower.
The information technology sector (+0.5%) is once again out in front of the other S&P 500 sectors, supported by a 1.9% gain in the PHLX Semiconductor Index. Yesterday's enthusiasm around Anthropic's IPO and increased AI spending by hyperscalers is met with buzz around this morning's news of a Broadcom (AVGO 341.02, +11.85, +3.60%)-backed $63 billion AI compute financing structure formed for Anthropic.
Computer hardware stocks are also higher, with the strength once again expanding into electronic equipment names in the industrials sector (+0.3%).
Strength is mixed elsewhere, with several S&P 500 sectors hovering at their unchanged levels.
Losses are relatively modest, though the energy sector (-0.8%) lags amid a modest decrease in oil prices, while the real estate sector (-0.9%) also faces pressure.
On the data front, new home sales decreased 0.6% month-over-month in September to 676,000 (Briefing.com consensus: 655,000) from a downwardly revised 680,000 (from 684,000) in August.
The Conference Board's Consumer Confidence Index expanded to 91.7 in October (Briefing.com consensus 80.5) from an upwardly revised 84.2 (from 81.9) in September.
