Stock Market Update
01-Sep-26 14:30 ET
S&P 500 Slides as Axon, Cadence and Dell Sink; GoDaddy Rallies
Dow -405.35
at 52780.55,
Nasdaq -267.86
at 26124.08,
S&P -55.11
at 7631.03
[BRIEFING.COM] The S&P 500 (-0.72%) is down about 55 points, the "best" performing major average with more aggressive losses being had elsewhere.
Briefly, S&P 500 constituents Axon (AXON 522.16, -44.40, -7.84%), Cadence Design (CDNS 314.79, -23.99, -7.08%), and Dell (DELL 428.79, -27.22, -5.97%) pepper the bottom of the standings. AXON falls as investors reacted to its $10.4 million investment in Ukrainian drone maker Buntar Aerospace, while speculation around the Times Square stabbing appeared to be a secondary factor, while CDNS's weakness is likely being driven by weakness in semiconductors/software, with DELL dipping into tonight's earnings report.
Meanwhile, GoDaddy (GDDY 101.83, +3.95, +4.04%) is notably higher despite a dearth of corporate news, the rebound likely stemming from a buy-the-weakness effort with the shares down still about -21% YTD into this morning's open.
