Stock Market Update
22-Sep-26 11:40 ET
Semiconductor strength lifts Nasdaq to fresh record
Dow -305.38
at 51743.45,
Nasdaq +74.22
at 27217.36,
S&P -3.59
at 7761.11
[BRIEFING.COM] The S&P 500 (flat), Nasdaq Composite (+0.3%), and DJIA (-0.6%) are mixed just before midday, having spent the morning in a relatively narrow range.
The Nasdaq's gain has been enough to lift the index to a fresh record high, supported by continued strength in semiconductor stocks. The PHLX Semiconductor Index is up 0.9%, helping keep the information technology sector (+0.2%) in positive territory.
Chip stocks reached fresh highs after President Trump reiterated his support for continued AI development during his UN General Assembly address, saying the U.S. should be careful with the technology but should not stifle its growth.
Mr. Trump also said he believes Iran will reach a deal with the U.S. after the midterm elections, while Axios recently reported that several Arab nations are pushing for a meeting between the U.S. and Iran at the UN gathering. Crude oil moved lower overnight but has since recovered to trade nearly unchanged.
Six S&P 500 sectors trade higher, with the financials sector (-2.3%) standing out as the clear laggard and weighing on the DJIA.
