Stock Market Update
19-Aug-26 10:05 ET
Broad enthusiasm tempered by semiconductor weakness
Dow +248.37
at 53591.77,
Nasdaq -34.28
at 26276.46,
S&P +24.73
at 7716.49
[BRIEFING.COM] The S&P 500 (+0.2%) and DJIA (+0.2%) hold modest gains amid relatively broad opening strength across equities, though some lingering tech weakness keeps the Nasdaq Composite (-0.1%) lower.
Stocks are supported by some easing in longer-term yields after the U.S. Department of the Treasury announced it will at least double the size of liquidity support buyback operations for longer-dated nominal coupon securities.
Nine S&P 500 sectors trade higher, led by an impressive gain in the health care sector (+3.9%), with Moderna (MRNA 135.84, +72.88, +115.76%) doubling its value after an experimental cancer vaccine with Merck (MRK 150.34, +15.16, +11.22%) produced positive results.
The materials sector (+2.2%) is another standout as precious metal prices move higher, while a solid batch of earnings from large retail names pushes the consumer discretionary sector (+1.1%) higher as well.
Even with the solid gains elsewhere, the PHLX Semiconductor Index (-2.0%) is extending yesterday's slide, pushing the information technology sector 0.7% lower and capping the index level gains.
