Stock Market Update
10-Sep-26 10:05 ET
Stocks broadly lower as macro pressures intensify
Dow -325.48
at 52055.18,
Nasdaq -196.38
at 26078.01,
S&P -50.58
at 7585.78
[BRIEFING.COM] Stocks are broadly lower just after the open, with the S&P 500 (-0.7%), Nasdaq Composite (-0.7%), and DJIA (-0.6%) extending this week's losses.
The market continues to face pressure from rising oil prices and inflation concerns as WTI crude surges toward the $100 per barrel mark, currently up $3.47 (+3.6%) to $99.51 per barrel. Bloomberg reports that the U.S. and Iran are bracing for a protracted war as a ceasefire remains elusive. Similarly, the 10-year note yield (4.93%) is testing the 5% mark.
Nine S&P 500 sectors trade lower, with the top-weighted information technology sector (-1.3%) weighing at the index level. After several resilient showings to start the week, semiconductor stocks are giving back their previous strength, with the PHLX Semiconductor Index down 2.7%.
Meanwhile, the defensive consumer staples sector (+0.7%) holds a decent gain, while the real estate sector trades on its flat line.
Just released, existing home sales decreased 2.0% month-over-month in August to a seasonally adjusted annual rate of 3.98 million (Briefing.com consensus: 4.03 million) from the prior level of 4.06 million.
Wholesale inventories increased by 1.3% in July (Briefing.com consensus 1.3%), from a previous increase of 0.2%.
