Stock Market Update
14-Aug-26 10:30 ET
Major averages moving modestly lower
Dow -61.45
at 53778.54,
Nasdaq -60.88
at 26763.17,
S&P -7.22
at 7791.77
[BRIEFING.COM] The S&P 500 (-0.1%), Nasdaq Composite (-0.2%), and DJIA (-0.1%) are now modestly lower as the information technology sector (-0.4%) begins to face some pressure.
The preliminary reading for the University of Michigan Consumer Sentiment Index for August dropped to 51.0 (Briefing.com consensus: 54.5) from the final reading of 55.2 for July. In the same period a year ago, the index stood at 58.2.
The key takeaway from the report is that only 8% of all consumers surveyed expect their income growth to exceed inflation in the year ahead. That expectation could ultimately translate into lower discretionary spending activity.
