Stock Market Update
08-Sep-26 11:30 ET
Stocks lower as oil rises, semiconductors soften losses
Dow -548.48
at 52865.77,
Nasdaq -1.19
at 26526.85,
S&P -23.13
at 7695.47
[BRIEFING.COM] The S&P 500 (-0.3%), Nasdaq Composite (flat), and DJIA (-1.0%) are lower just before midday, though off their worst levels of the session.
Stocks opened broadly lower as crude oil prices rose following the U.S. and Iran exchanging strikes over the weekend and a Houthi attack on a Saudi energy facility. Crude oil remains $1.29 (+1.4%) higher for the day at $92.77 per barrel, but is off its morning high. The energy (+1.1%) and utilities s(+1.1%) sectors are the only S&P 500 sectors that hold a gain wider than 0.5%, while a total of seven S&P 500 sectors trade lower.
The information technology sector (+0.1%) has managed to reenter positive territory, with a 2.2% surge in the PHLX Semiconductor Index contributing to the outperformance of the Nasdaq Composite.
Meanwhile, Amgen (AMGN 395.52, -41.72, -9.54%) leads the health care sector (-2.6%) firmly lower, weighing on the DJIA.
