Stock Market Update
26-Jun-26 11:35 ET
Mega-cap rebound offsetting chipmaker slide
Dow +155.29
at 52075.91,
Nasdaq +52.55
at 25432.15,
S&P +18.32
at 7375.81
[BRIEFING.COM] The S&P 500 (+0.3%), Nasdaq Composite (+0.3%), and DJIA (+0.3%) have reversed their early weakness just before midday.
Beneath the surface, signs of divergence remain between select tech names and the broader market. A 4.4% pullback in the PHLX Semiconductor Index keeps the information technology sector (-0.8%) firmly lower, despite Apple (AAPL 279.06, +3.91, +1.42%) and Microsoft (MSFT 371.07, +18.24, +5.17%) rebounding from yesterday's slide.
The industrials sector (-1.0%) holds a similar loss as electrical product names continue to move in lockstep with semiconductors, while losses are more modest elsewhere.
Similar to recent sessions, the broader market leans higher, with investors continuing to rotate into more cyclical and defensive pockets of the market. The defensive health care (+2.8%) and consumer staples (+1.5%) sectors add to this week's gains, while the consumer discretionary sector (+1.8%) outperforms amid broad strength and a rebound in its mega-cap components. The Vanguard Mega Cap Growth ETF (+0.6%) sits at session highs, pushing the major averages to their best levels of the session.
