Stock Market Update
29-Aug-24 15:05 ET
Mega caps turn negative, but market remains positive
Dow +249.01
at 41340.43,
Nasdaq -33.80
at 17522.22,
S&P -1.20
at 5590.98
[BRIEFING.COM] There's still a positive bias in the market, but negative price action in some mega cap names has the S&P 500 (-0.03%) and Nasdaq Composite (-0.2%) trading lower. The equal-weighted S&P 500 trades 0.4% higher and market breadth is positive. Advancers lead decliners by a 5-to-2 margin at the NYSE and by a 2-to-1 margin at the Nasdaq.
Alphabet (GOOG 162.46, -2.04, -1.2%), Broadcom (AVGO 156.48, -1.69, -1.1%), and Eli Lilly (LLY 936.66, -12.27, -1.2%) joined NVIDIA (NVDA 118.21, -7.37, -5.9%) as the market declined.
Other semiconductor stocks also rolled over, leading the PHLX Semiconductor Index (SOX) to trade 0.5% lower.
