Stock Market Update
16-Oct-24 10:05 ET
Stocks open mixed after chip stock sell-off
Dow +181.08
at 42921.50,
Nasdaq -56.42
at 18259.17,
S&P +2.46
at 5817.72
[BRIEFING.COM] The stock market opened to mixed action after yesterday's chipmaker-led declines. Market breadth shows a positive bias under the index surface related to some buy-the-dip interest.
Advancers lead decliners by a 4-to-1 margin at the NYSE and by a better than 2-to-1 margin at the Nasdaq.
The market-cap weighted S&P 500 trade flat and the Invesco S&P 500 Equal Weight ETF (RSP) shows a 0.5% gain.
Relative weakness in the mega cap and semiconductor spaces has limited movement for the major indices. The Vanguard Mega Cap Growth ETF (MGK) is down 0.8% and the PHLX Semiconductor Index (SOX) shows a 0.1%.
Meanwhile, the Dow Jones Industrial Average sports a 0.4% gain and the Russell 2000 trades 0.9% higher.
