Stock Market Update
16-Sep-26 10:00 ET
Stocks mostly higher as oil eases, tech moves higher
Dow -68.25
at 52024.86,
Nasdaq +170.98
at 26173.60,
S&P +26.07
at 7611.80
[BRIEFING.COM] The S&P 500 (+0.4%), Nasdaq Composite (+0.7%), and DJIA (-0.2%) are mostly higher just after the open, with support coming from a rebound in tech names and lower oil prices.
Eight S&P 500 sectors trade higher, led by the top-weighted information technology sector (+0.9%). Semiconductor stocks are off to a solid start after yesterday's rebound attempt from Monday's slide largely faded throughout the day. The PHLX Semiconductor Index is up 1.9%.
Mega-cap tech stocks as a whole tilt higher, helping the communication services (+0.7%) sector rise to a similar gain. The Vanguard Mega Cap Growth ETF is up 0.7%.
Meanwhile, the energy sector (-1.9%) is sharply lower as crude oil moves $2.50 (-2.3%) lower to $103.36 per barrel. Chevron (CVX 214.06, -3.70, -1.70%) is a Dow laggard, while several components of the financials sector (-0.5%) also weigh on the thirty-stock index.
Just released, business inventories increased 0.8% month-over-month in July (Briefing.com consensus 0.2%), following an upwardly revised 0.1% increase (from 0.0%) in June.
The NAHB Housing Market Index contracted to 32 in September (Briefing.com consensus 34), from the prior reading of 35.
