Stock Market Update

[BRIEFING.COM] The information technology sector (+0.5) is back in positive territory, which has helped the S&P 500 (flat) reclaim its flat line, while the Nasdaq Composite (-0.2%) and DJIA (-0.4%) remain lower. 

On the earnings front, Shopify (SHOP 112.46, -14.78, -11.62%) exemplifies the choppy action seen in today's trade. The stock is reversing sharply lower following its 4Q25 earnings report, as profit-taking and valuation concerns overshadowed an otherwise strong quarter and upbeat 1Q26 outlook. After initially rallying on clear top-line beats and guidance calling for low-thirties percent revenue growth in Q1, shares turned decisively negative, likely pressured by a modest adjusted EPS miss and elevated operating expenses. The pullback comes after the stock had surged roughly 13% this week ahead of the print and reflects its lofty 68x forward P/E, which leaves little room for imperfection. Notably, management's tone on the call remained confident, suggesting the selloff appears more valuation and positioning driven than fundamentally based.