Stock Market Update
03-Feb-26 10:00 ET
Major averages mostly lower as tech names pull back
Dow +31.25
at 49437.70,
Nasdaq -193.12
at 23399.01,
S&P -24.80
at 6951.63
[BRIEFING.COM] The S&P 500 (-0.3%), Nasdaq Composite (-0.7%), and DJIA (+0.3%) sit mostly lower shortly after the open.
The broader market is once again off to a solid start, though considerable weakness in the top-weighted information technology sector (-1.7%) limits growth at the index level.
Microsoft (MSFT 416.17, -7.20, -1.70%) continues to come under pressure following its earnings release last week, while a sluggish start from NVIDIA (NVDA 183.36, -2.25, -1.21%) and other semiconductor names adds to the weakness.
Teradyne (TER 276.35, +26.82, +10.75%) and Palantir Technologies (PLTR 155.68, +7.90, +5.35%) are both sharply higher after their earnings reports, though the gains are considerably narrowed from their best premarket levels.
Meanwhile, eight S&P 500 sectors trade higher.
A rebound in gold, silver, and oil prices lifts the materials (+2.0%) and energy (+1.3%) sectors to the top of the early leaderboard.
The utilities sector (+1.2%) also holds a solid gain after retreating yesterday.
Elsewhere, earnings continue to dominate action, with most sectors' best and worst performing names a result of the latest batch of earnings reports.
