Stock Market Update
09-Dec-24 12:25 ET
Energy and materials sectors cutting their own path
Dow -75.22
at 44567.30,
Nasdaq -85.45
at 19773.86,
S&P -27.81
at 6062.46
[BRIEFING.COM] The stock market is plodding along without a lot of conviction. Relative weakness in some of the larger stocks is the primary reason why the Nasdaq Composite and S&P 500, which hit record highs on Friday, are in negative territory.
Another reason is the lack of convincing leadership. There are 11 S&P 500 sectors and nine of them are trading lower.
The only holdouts are the energy (+0.8%) and materials (+0.5%) sectors. The former is following oil prices higher, which have gotten a stir from the overthrow of the Assad regime in Syria, while the latter have gotten a boost from China's stimulus talk.
WTI crude futures are up $1.25, or 1.9%, to $68.45/bbl. Brent crude futures are up $1.14, or 1.6%, to $72.34/bbl.
