Stock Market Update
13-Apr-26 11:30 ET
Major averages mixed amid muted reaction to failed Iran talks, software rebound
Dow -279.72
at 47635.74,
Nasdaq +63.64
at 22966.55,
S&P +2.67
at 6821.65
[BRIEFING.COM] The S&P 500 (flat), Nasdaq Composite (+0.3%), and DJIA (-0.6%) are mixed just ahead of midday, as markets show a muted reaction to news that the U.S. and Iran failed to reach a more lasting ceasefire agreement over the weekend.
Goldman Sachs (GS 875.50, -32.30, -3.56%) weighs on the DJIA this morning as the company trades lower despite topping earnings estimates, though it is worth noting that the stock traded up nearly 16% over the past month. Despite the weakness, the financials sector (+0.3%) is one of just three S&P 500 sectors that trade higher this morning.
The information technology sector (+0.7%) holds the widest gain, which contributes to the outperformance of the Nasdaq Composite. Software names such as Oracle (ORCL 150.37, +12.28, +8.89%) and AppLovin (APP 419.40, +28.02, +7.16%) are among the best-performing S&P 500 names today after incurring sharp losses last week amid renewed fears of AI-disruption. The iShares GS Software ETF is up 3.9%.
Meanwhile, the energy sector (+0.6%) also trades higher as crude oil is up $5.86 (+6.1%) to $102.43 per barrel.
Losses elsewhere are relatively modest, though the consumer staples sector (-1.2%) is a laggard as food names such as Conagra (CAG 14.30, -0.88, -5.76%) and Kraft Heinz (KHC 22.20, -0.86, -3.71%) face pressure.
