Stock Market Update
20-Sep-24 10:05 ET
Stocks open sluggish after rally
Dow -100.88
at 41924.31,
Nasdaq -64.04
at 17949.92,
S&P -19.93
at 5693.71
[BRIEFING.COM] The stock market has exhibited some consolidation activity after yesterday's rally. Losses at the index level are relatively limited thus far. The S&P 500 (-0.2%) and Dow Jones Industrial Average (-0.2%) trade fractionally lower than record highs.
A negative response to earnings and guidance from FedEx (FDX 257.21, -43.18, -14.4%) has contributed to the downside bias. This price action has contributed to the underperformance of the S&P 500 industrial sector (-1.1%).
The energy sector is another weak performer so far, showing a 1.2%. Meanwhile, the utilities sector shows the largest gain, up 1.4%, after lagging through yesterday's session.
The 10-yr yield is up one basis point to 3.75% and the 2-yr yield is up three basis points to 3.63%.
