Stock Market Update
29-Sep-26 10:05 ET
Stocks little changed as oil moves lower, yields hold steady
Dow -123.59
at 51357.83,
Nasdaq -3.15
at 26838.27,
S&P -4.83
at 7678.96
[BRIEFING.COM] The S&P 500 (-0.1%), Nasdaq Composite (flat), and DJIA (-0.2%), are little changed shortly after the open, reflecting some back-and-forth across equities in response to yesterday's retreat.
Breadth figures are nearly even on the NYSE and the Nasdaq, with four S&P 500 sectors trading higher. The information technology sector (+0.2%) is among the leaders, supported by a 2.1% gain in the PHLX Semiconductor Index following a tough session for the group yesterday.
Semiconductor-linked plays such as Bloom Energy (BE 290.33, +27.46, +10.45%) and Vertiv (VRT 251.63, +7.59, +3.11%) are among some of the early standouts, helping the industrials sector (+0.5%) rise to the widest gain so far.
Elsewhere, stability across Treasury yields supports gains in the utilities (+0.4%) and real estate (+0.2%) sectors after higher yields weighed on both groups yesterday. The 10-year note yield is down one basis point to 5.25%.
Lower oil prices are also a driving factor of this morning's action. Crude oil is currently down $1.64 (-1.8%) to $90.96 per barrel. Cruise lines such as Carnival (CCL 24.70, +2.56, +11.54%) and Royal Caribbean (RCL 257.94, +15.35, +6.33%) are soaring higher, while the energy sector (-0.7%) is among today's laggards.
The defensive health care (-0.5%) and consumer staples (-0.8%) sectors also move firmly lower after outperforming yesterday.
Just released, the Conference Board's Consumer Confidence Index decreased to 81.9 in September (Briefing.com consensus 90.0) from the downwardly revised level of 88.6 (from 89.4) in August.
The job openings and labor turnover survey (JOLTS) saw 7.079 million job openings in August (Briefing.com consensus 7.150 million), down from the upwardly revised prior level of 7.335 million (from 7.271 million).
