Stock Market Update
22-Jul-24 10:05 ET
Stocks open to mixed action amid mega cap rebound
Dow -44.78
at 40242.75,
Nasdaq +208.13
at 17935.07,
S&P +33.72
at 5538.72
[BRIEFING.COM] The S&P 500 is 0.9% higher and the Nasdaq Composite sports a 1.4% gain, powered by rebound activity in mega cap names and semiconductor shares after last week's selling.
The Vanguard Mega Cap Growth ETF (MGK) trades up 1.6% and the PHLX Semiconductor Index (SOX) trades 2.6% higher.
Things look more mixed under the index surface, though. Decliners have a fractional lead over advancers at the NYSE while advancers lead decliners at the Nasdaq. The equal-weighted S&P 500 shows a 0.3% decline.
S&P 500 sector performance also reflects mixed action. The information technology sector is 1.6% higher and the communication services sectors trades 1.2% higher. Meanwhile, the energy sector (-1.1%) shows the largest decline amid falling oil prices ($77.78/bbl, -0.84, -1.1%).
