Stock Market Update
21-Aug-26 14:55 ET
Technology sector tracking weekly loss
Dow +519.00
at 53278.21,
Nasdaq +108.78
at 26196.98,
S&P +35.57
at 7676.73
[BRIEFING.COM] The major averages continue holding modest gains heading into the final hour of today's session. The S&P 500 (+0.5%) has narrowed this week's loss to 1.4% while the Nasdaq (+0.4%) is on course to give up 2.1% for the week.
The top-weighted technology sector (-0.1%) is largely responsible for this week's headline losses thanks to renewed profit taking in chip-related names after they rallied strongly off July lows. The PHLX Semiconductor Index has given up 5.6% this week, but it is still up 3.6% for the month, while the broader tech sector is down 3.3% this week.
Treasuries are on track to end the week in the red with the 30-yr yield returning to levels seen before the Treasury's Wednesday announcement about increased buyback limits. The 30-yr yield is up four basis points at 5.28% today, and up two basis points for the week. Meanwhile, the 2-yr yield is up four basis points at 4.23% today, and also up two basis points for the week.
